Are there any products for which there are no substitutes

Assignment Help Microeconomics
Reference no: EM131021564

Are there any products for which there are no substitutes? Are these the only products for which it would be possible to have a monopoly? Briefly explain.

Reference no: EM131021564

Questions Cloud

Distribution of assets in a liquidation : What would be the priority of the claims as to the distribution of assets in a liquidation under Chapter 7 of the Bankruptcy Act? 1 is the highest claim, 5 is the lowest.
The primary test of feasibility in a reorganization : The primary test of feasibility in a reorganization is whether every claimant agrees with the reorganization plan. The basic doctrine of fairness states that all debt holders must be treated equally. Since the primary issue in bankruptcy is to determ..
What term is this loan being paid : A pottery factory purchases a continuous belt conveyor kiln for $68,000. A 6.3% APR loan with monthly payments is taken out to purchase the kiln. If the monthly payments are $765.22, over what term is this loan being paid?
Bankruptcy act-protect shareholders against creditors : Bankruptcy Act is designed to do which of the following? Establish the rules of reorganization for firms with projected cash flows that eventually will be sufficient to meet debt payments. Ensure that the firm is viable after emerging from bankruptcy..
Are there any products for which there are no substitutes : Are there any products for which there are no substitutes? Are these the only products for which it would be possible to have a monopoly? Briefly explain.
Was the local electric company a monopoly : The great baseball player Ty Cobb was known for being very thrifty. Near the end of his life, he was interviewed by a reporter who was surprised to find that Cobb used candles, rather than electricity, to light his home. From Ty Cobb's point of v..
What will be the percentage change in the bond price : A bond has a coupon rate of 8 percent, 7 years to maturity, semiannual interest payments, and a YTM of 7 percent. If interest rates suddenly rise by 2 percent, what will be the percentage change in the bond price?
About the interest rate risk of lower-coupon bonds : Bond J has a coupon rate of 3 percent. Bond K has a coupon rate of 9 percent. Both bonds have 19 years to maturity, make semiannual payments, and have a YTM of 6 percent. If interest rates suddenly rise by 2 percent, what is the percentage price chan..
The inflation rate will be over the next year : An investment offers a total return of 18 percent over the coming year. Janice Yellen thinks the total real return on this investment will be only 13 percent. What does Janice believe the inflation rate will be over the next year?

Reviews

Write a Review

Microeconomics Questions & Answers

  Infer about the market share of each firm

Presume 2 firms are found on the real line [0,1]. Firm 1 is located at a=.15, and Firm 2 is located at 1-b, where b=.15. Suppose P1=P2=$10. Consumers face a distance cost of $2 per square unit of distance.

  Looking at the chart below suggest the kinds of variables

looking at the chart below suggest the kinds of variables that could be used to represent the following factors which

  What if the pollution invades bakers home

suppose that Abel builds a factory next to Baker´s farm, and air pollution from the factory harms Baker´s crops. Is Baker´s property right to the land being violated Is an externality present What if the pollution invades Baker´s home and harms he..

  Introduce to the market a new carbonated beverage

Suppose a soft-drink firm is grappling with the decision about whether or not to introduce to the market a new carbonated beverage with 25 percent fruit juice. How might it use the six decision steps to guide its course of action?

  Principles of political economy and taxation

Normal 0 false false false EN-US X-NONE X-NONE Are there any similarities ..

  You are a member of a presidential commission appointed to

you are a member of a presidential commission appointed to consider a mandatory national health insurance plan and the

  Economy described by the solow model

Suppose an economy described by the Solow model has the following production function: Y=k^1\2(LE)^1\2 a)For this economy, what is f(k)?

  Price elasticity remains constant along the demand curve

Suppose that 50 units of a good are demanded at a price of $1 per unit. A reduction in price to $.20 results in an increase in quantity demanded to 70 units. Show that these data yield a price elasticity of .25. By what percentage would a 10 percent ..

  Effects of tariffs differ from the effects of quotas

Why would cash transfers typically be preferred by recipients over in-kind transfers - Who gains and who loses from a tariff.

  What price does this firm charge its customers

A firm has $2,200,000 in sales, a Lerner index of 0.61, and a marginal cost of $50, and competes against 900 other firms in its relevant market.

  Specialty circuit board division has annual fixed costs

A manufacturing firm's specialty circuit board division has annual fixed costs of $100,000 and variable costs of $15.00 per board. If they charge $95 per circuit board, how many circuit boards must they produce and sell in order to break even?

  Efficient means of setting optimal patent life

We suggested above that an annually increasing renewal fee would be an efficient means of setting optimal patent life. Similarly, suppose that owners who wanted to restrict future use of their property had to pay a fee for each year that the restrict..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd