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Monopoly:
Monopoly is a market structure in which there is a single firm producing a commodity or providing a service that has no close substitutes. As the sole supplier to its market, the pure monopolist is assumed to have no current competitors, and it is protected against the potential competition of new entrants into its market.
Q. What is Tradeable product? Tradeable:A product (a service or good) is tradeable if its purchaser can purchase it far away from the place where it is produced. Most goods (ot
Which of these will be included in US GDP for 2005? a) A car produced in Japan in 2005 and sold in the US in 2005 b) A car produced in the US in 2004 and sold in Japan in 2005 c) A
Suppose that demand is downward sloping and supply upward sloping. Subsidies cause dead weight loss despite the fact that: 1)consumer surplus increases. 2)total surplus increases
What is indifference curve and its properties?
If a minimum wage were imposed below the competitive equilibrium what would we expect to observe in the effected labor markets?
Type of total outlay
a consumer consumes only two goods x and y is in eqillibrium price of x falls explain the reaction of consumer through utility analysis
Criteria of a Good Forecasting Method: 1. Simplicity : and Ease of Comprehension: Management must be able to understand and have confidence in the techniques used compli
Government increases the taxes on car ownership. Explain the possible market outcomes of such a decision. As this is a tax paid by owners, and therefore not levied indirectly
Suppose the price of books is $15, the price of movies is $5, and your income is $75. Assuming you have a desire to reach constrained optimization, how many movies will you buy? Ho
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