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What is an "oligopoly" and why do they exist? Mention three or four oligopolies whose products you own or regularly purchase. What distinguishes oligopoly from monopolistic competition?
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
What is the machine's payback period? Compute net present value of machine if the cost of capital is 12%. Find out the expected internal rate of return for this machine?
Graph the demand and supply curves. What is the equilibrium price and quantity in this market and if the actual price in this market were above the equilibrium price, what would drive market toward the equilibrium?
The switch to the use of HFCS from sugar in soft drinks was prompted in large part by its relatively lower price. Assuming a competitive market, what effect would this change have on the equilibrium price and output for soft drinks?
Solve the partial derivative
Describe why some firms might suffer diseconomies of scale. Do you know any examples? Could GM be an example of diseconomies of scale?
Dsecribe a complete business cycle (trough, peak, expansion, recession), focusing on what happens to output, investment, employment in each phase.
Recognize three well-founded reasons supporting the potentially beneficial role for government intervention in the workings of private marketplace.
In the competitive market, the market demand is Qd=48 - 5p and the market supply is Qs = 7P. The equilibrium price is4
What's the difference between the law of diminishing marginal returns and the law of diminishing marginal rate of technical substitution?
The atmospheric pressure of 100k Pa acts on the other side of the piston. The gas is heated until the volume is doubled and the final pressure is 500 kPa. Calculate the work done by the gas.
The Microsoft antitrust trial (United States vs. Microsoft) has been one of the biggest investigations of antitrust behavior since the turn of the century. You are supporting the Government, research and present a cohesive argument to the other si..
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