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indicate whether you agree with the following statements in italics, and explain your answer:
(a) Parallel shifts in the demand function can be used to identify the degree of market power being exercised in a market.
(B) Suppose that most of the city's consumption of a good is supplied by production within the city, and that most local production is sold to local consumers. We can conclude that this city is a geographic antitrust market for the good in question
(c) Contracts between a firm and its customers can be used to facilitate collusion
(d) Suppose that in a particular country, price fixing is not subject to criminal law; instead, if a cartel is caught, they are simply forced to dissolve the cartel and return to non-cooperative behavior. Such a policy cannot deter collusion because it does not involve a penalty (fines or imprisonment) for the cartel members.
What is the present value of your wealth at the beginning of your life, what is the largest constant consumption stream you can afford and what borrowing/lending strategy you will use to accomplish b.
Monopolies are price makers and as such should be able to set price where they will make a profit. Is this statement true? Why or why not?
Define the term Consumer surplus, Gien good and Income elasticity of demand using graph and equation.
Calculate the net present value and benefit-cost ratio for four different discount rates
What does price, average revenue and marginal revenue have in common and Firms can operate in one or more markets and not always on the same side of the market. General Motors is a buyer in the resource market and a seller in the automotive market.
Explain how GDP would return to equilibrium if it was above or below equilibrium GDP. Whenever there is change in spending, there will be a change in real GDP. Explain why this is so.
What is the difference between a change in demand versus a change in quantity demanded? A change in supply versus a change in quantity supplied? Why is it so important to differentiate between these similar-sounding terms?
Among perfect competition, monopolistic competition, oligopoly, and monopoly, how would you classify the markets for each of teh drinks.
Vellus's original entry into exporting was both reactive and serendipitous. Do you think this is the exception or the rule for small businesses What might be done to make small firms more proactive with regard to exporting 3. What lessons about su..
As a result of the situation above what will happen to the unemployment rate,Suppose the government increases the minimum wage, substantially increasing firms labor costs.As a result of the situation above what will happen to inflation,As a result of..
Explain the law of demand. Why does a demand curve slope downwards? Distinguish between a change in demand and a change in quantity demanded.
The budget deficit is of tremendous concern and all law makers agree that some measures should be taken to reduce it. However, The Republicans see the issue as a spending problem, while the Democrats see it as a revenue problem.
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