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The United States Postal Service has a monopoly on non-urgent First Class Mail and the exclusive right to put mail in private mailboxes. Pfizer Inc. makes LIPITOR, a prescription drug that lowers cholesterol. Cox Communications is the sole provider of cable television service in some parts of San Diego.
a. What are the substitutes, if any, for the goods and services described above?
b. What are the barriers to entry, if any, that protect these three firms from competition?
c. Which of these three firms, if any, is a legal monopoly? Explain your answer.
d. Which of these three firms are most likely to be able to profit from price discrimination and which are most likely to be able to sell their good or service for a single price?
All major nations had their currencies set at a fixed exchange rate with the American dollar, but the dollar was the only currency convertible into gold. Nixon's unilateral decision brought instability to the international monetary system from 197..
Greece has few workers per unit of land while France has many workers per unit of land. Steel is labor intensive and rice is land intensive. According to the long run Heckscher-Ohlin model. The price of land use in Frances steel industry.
Economists generally use Porter's 5-forces framework when making a qualitative evaluation of a company's strategic position. According to Porter, his model should be used at industry level,
Dubya make a decision to deposit $5,000 of his cash holdings in Wachovia. The required reserve ratio is set at 10 percent or .10 and the bank does not hold any excess reserves.
Explain 3-ways in which Federal Reserve can change the money supply. If the Federal Reserve is going to adjust all of these tools during an economy that is increasing too quickly.
Is there a certain protocol that United State companies must follow when advertising in Singapore? I understand that advertisements cannot contain any hype.
In 2006 the hourly cost to workers per German industrial employee was $33. The hourly expense to employers per United States industrial employee was $23.65 while the average cost per Taiwanese industrial worker was $6.38.
Why would you expect the inflation rate to accelerate if the actual unemployment rate declined to a level lower than the "full employment" unemployment rate (NAIRU)? Explain your answer in a few sentences. What state of business cycles (such as re..
Flexible Exchange Rate - What are the advantages of flexible exchange rates respect to fixed exchange rates? Are there disadvantages?
In this scenario, the husband and wife want to go to the movies together. The wife wants to see a romance film and the husband wants to see an action movie. Solve for the Nash equilibria to determine the outcome of the game using different strateg..
Consumer Products Corporation is a United States regional consumer products firm located in Phoenix, Arizona. The firm produces and distributes a small line of customer products to retailers in major western cities including Los Angeles,
In Florida, huge contraption turns and starts lumbering down next row of juice-laden Valencia oranges. The operator watches his progress on two TV screens in his cab,
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