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The Discussion Board Forum should be considered as weekly short essay. In order to receive full credit, answer every question according to the instructions provided on DB rubric. You need to read the textbook and understand the concepts before you answer the questions. It is mandatory that you use proper economic language or concepts such as “demand”, “supply”, “elasticity”, etc. on you posting. Additional research is required and strongly encouraged. Make sure to cite the source of your research using APA format and list it at the end of your posting. Using graphs and charts is strongly encouraged. The article The Oligopoly Problem argued that oligopolies fall through the cracks of these regulations and leave consumers unprotected from harmful business practices where industries are highly concentrated. Read the article and respond to the following in your initial post: •What are examples of firms in an oligopolistic market that abuse their power? Explain how they abuse their power and describe the impact on consumers. •Do you agree with the author’s feelings about increased government oversight of such industries? Why or why not?
Total surplus in a market does not change when the government imposes a tax on that market because the loss of consumer surplus and producer surplus is equal to the gain of government revenue. The Laffer curve is the curve showing how tax revenue var..
One of the most important debates during the Constitutional Convention in 1787 was about the power and size of government. If the Founding Fathers could view the government of the United States today, which side of that debate would think that they w..
Use the classical theory of distribution to predict the impact on the real wage and the real rental price of capital of each of the following events.
Consumers of computers value high-quality ones at $1,000 and low-quality ones at $100. The supply of high-quality computers is QH = PH ? 200. The supply of low-quality computers is QL = 2PL ? 100. Only sellers know the true quality of the computers b..
If there are 110 million people working, 5 million discouraged workers, 10 million receiving unemployment insurance benefits, and 15 million officially unemployed, how many people are in the labor force?
Which of the following variables would you use in a regression analysis in order to find a signifcant correlation with exchange rate pound/dollar (Y variable).
A women's health clinic has recognized the need to segment its market. Identify three bases by which this clinic might segment the female market, and identify the manner in which the "product" component of the marketing mix would change in light of t..
Explain the difference between normative and positive economics. Determine which of these statements are normative and which are positive and explain why you place them in the normative or positive category.
Using the factors that influence the price elasticity of demand, do you think a college education is an elastic or inelastic good? State the factors and then support your answer Often times when a college campus has overcrowded parking, they raise th..
In the 1920’s, General Motors purchased its auto bodies from an independent firm, Fisher Body. GM decided to build a new plant and, in order to improve the reliability of supply and also to decrease shipping costs, GM asked Fisher Body to build a new..
The national debt doubled in nominal terms during a time when the GDP Deflator increased from 200 to 300. This implies that the national debt: is smaller in real terms, has more than doubled in real terms, has increased in real terms, but it has less..
Economic growth has slowed in the last quarter of the year to 0.6% from the previous third quarter growth rate of 4.9%. The economy lost 12,000 jobs in the last month of the previous year while shedding 80,000 jobs during the months of January and Fe..
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