Reference no: EM13375790
1-national parks are typically considered to be common national resources. Since each national park has a gated entrance, does it fit the accepted definition of a common resource? Carefully explain your answer.
2-Describe the fundamental difference between short-run analysis and long-run analysis of the cost structure of a firm.
3-give at least two examples of industries that practice price discrimination, and describe their pricing practices.
4-Describe the purpose of antitrust laws. What do they accomplish?
5-Define in-kind transfers. What do advocates of cash payments consider in-kindtransfers
6-Describe why a consumer who chooses a consumption bundle in which the relative price exceeds the marginal rate of substitution can't be at an optimum.
7-Indicate whether each of the following is a private good, a common resource, a natural monopoly, or a public good (according to the definition in your textbook)
A-A university campus
B.A college football game in a large stadium
C,A video rental.
8- Explain the role opportunity costs in differentiating between economic profits and accounting profits.
9-professional organizations (such as the American medical Association and the American bar association) have actively advocated regulation to restrict the right of professionals to advertise. Describe the economic incentives that might exit for incumbent professional to restrict advertising.
10-joe kelp owns a commercial fishing fleet off the coast of Alaska. As part of his business
He hires someone to captain the boats in his fleet. These workers are considered part of the crew.
In the market for fresh pacific salmon, Joe is one of thousands of fishermen. WhileJoe usually catches a signicant number of fish each years, his contribution to the entire harvest of salmon is negligible relative to the size of the market. Joe would be considered a perfect competitor in the output market. Ifso, explain why his demand curve for labor is (crew workers)is downward sloping, and his supply curve for labor is perfectly elastic at the market wage.