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Choose ONE question to answer in 2 paragraphs:
1. Give examples of industries that are monopolistically competitive. Find the news articles, books which explain these examples.
2. What is "monopolistic" about monopolistic competition? What is "competitive" about a monopolistically competitive market? Please explain.
3. Suppose that A Cleaner World invents a new type of laundry detergent that has an ingredient that stops stains from setting into clothes. If the laundry detergent market is monopolistically competitive, explain what will happen to the price of its product in the short run. What will happen in the long run?
4. "If the amount of product differentiation in a monopolistically competitive industry is very small, the outcome in that market will not be very different than if it were a perfectly competitive industry." Please explain.
5. Can a monopolistically competitive firm producing a good with lots of very close substitutes earn large positive profits in the long run? Please explain.
A forklift can be purchased for $30,000. The market value of the forklift decreases by 20% of the previous year’s value for 2 years, and then by 15% in years 3 through 10. Maintenance is $400 in years 1 and 2, and then jumps to $750 in year 3. After ..
Determine why, given the advantages of international diversification, some firms choose not to expand internationally. Provide specific examples to support your response. As firms attempt to internationalize, they may be tempted to locate their facil..
Bridge & Co. has to make a loan payment of $3937 at the end of each year for 24 years. In present day dollars, how much will Bridge & Co. pay in total for the loan? Assume an interest rate of 2% compounded annually.
To decrease aggregate demand, the Federal Reserve would. When banks find themselves with excess reserves, they typically. When the Federal Reserve buys Treasury bonds from the public in the open market.
A country (“Home”) is populated with workers who produce either food (F) or clothing (C). There are 200 workers producing food and 100 producing clothing - these numbers are fixed. Describe how the consumption patterns (the number of units of food an..
If offered the choice between a 10 percent increase in her hourly wage rate, which would Helga choose? Assume that she is free to choose her hours of work.
Economists use the word "capital" to mean
Discuss the types of barriers to entry, and explain whether each type is likely to provide long-term monopoly power. What are the allocative and distributive differences between monopoly and perfect competition? What causes these differences?
Choose a product or service. How does price elasticity of demand for this product or service affect how it is priced? How does the availability of substitutes for this product or service affect price elasticity of demand? What is the difference betw..
elucidate the social gain from the market for cars. Be sure to show gains and losses to all relevant groups of Americans.
Talk about the ramifications involved in conducting business under both/either scenario.
Allied Electrons must purchase a new automatic soldering machine to meet increased demand for its electronic goods. Of all the machines considered
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