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Problem
You are watching television. An advertisement begins, "Come on down to Warehouse Electronics. We've got deals so great you won't believe it! National brand 13 inch color television sets for $119. The price is so low that we can't tell you the name of the manufacturer!"
1. Why would Warehouse Electronics be unable to reveal the name of the manufacturer when it advertises its television sets for an unusually low price?
2. Although this activity appears like price fixing, is the objective of this practice to reduce competition? Why?
3. Why would the manufacturer place this type of restriction on the retailers that sell its products?
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
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Problem based on Oligopoly and demand curve, Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?
Explain the impact of external costs and external benefits on resource allocation; Why are public goods not produced in sufficient quantities by private markets? Which of the following are examples of public goods (or services)? Delete the incorrec..
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Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:
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Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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