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A monopolist can earn positive profits in the long run because it has market power, allowing it to charge a price that is higher than marginal cost.
In the case of a natural monopoly (i.e. a firm whose average cost decreases as output increases due to large fixed and low marginal costs), the government should generally regulate the monopolist to charge a price equal to marginal cost.
A monopoly with a more elastic demand curve will have more market power.
Patent protection essentially gives software developers a monopoly; therefore, the practice of granting patents to developers should end.
bumper crop means cheap mangoesnathan dyer the west australian november 1 2011perth consumers are set for a mango boom
Since consumers' tastes are changing so rapidly, there is no reason to expect that statistical demand estimates derived from historical data will be accurate in the future.
Assume that a country's real growth is 2 percent per year, while its real deficit is rising 5 percent a year. Can the country continue to afford such deficits indefinitely What problems might it face in the future
Bertrand solution. How much each of the firms is producing and what is the resulting price and how much each of the firms is producing and what is the resulting price? What are the firms' profits?
Which tool do you think is most commonly used If the Fed wanted to decrease the supply of money in the economy, would the Fed buy or sell securities in the open market and what would be the first effect of this policy.
Is the market for coffee perfectly competitive and does the coffee market meet all six conditions of a perfectly competitive market?
What is the underlying message of the following lyrics from Keynes? [Keynes] Public works, digging ditches, war has the same effect. Even a broken window helps the glass man have some wealth.
What are the major determinants of a product's price elasticity of demand? Studies indicate that the demand for Florida oranges, Bayer aspirin, watermelons, and airfares to Europe are elastic. Why?
Consider a city with a river. The city has a resort whose visitors use the river for recreational purposes. The city also has a tannery that creates industrial waste which it dumps into the river.
Examining the current market situations of "Starbucks" competition can take many forms. value competition includes collusion, price leadership, loss leaders, price discrimination.
In 1982, nominal GDP decreased by 2% while real GDP increased 4%. What explains the difference between nominal GDP and real GDP? Which is a better indicator of how the economy is performing?
Assume that the cost of electricity from a natural gas plant is 5 cents per kilowatt-hour and that the cost of concentrating solar power (e.g., production from a plant like Ivanpah) is 13 cents per kilowatt-hour. Based on our discussion of the ex..
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