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Why are the Anti- Trust Laws are important to control the behavior of monopoly pricing? Also, why does the government also protect some monopolies under paten Laws? Give examples on both sides.
Assuming a two country, two good, perfect competition model of trade with multiple factors, and mobile labor but specific other factors
Explain why Marginal Cost must pass through the minimum point on the Average Total Cost curve.
Suggest one (1) pricing policy that will enable your low-calorie, frozen microwavable food company to maximize profits.
You recently hired an economist to work with engineering also operations experts to estimate the production function for a particular line of office chairs.
What is price discrimination and how is it used to increase a monopoly's profits? Explain with a graph, how consumer surplus changes when a monopoly price discriminates. Give me a real-world example where companies use price discrimination policy.
Compare the cost of individual replacement with block replacement at 2400 hours using i = 12%. (Answer: EACindividual = $79.39 and EACbulk = $69.13)
Derive total, average and marginal revenue schedules. Explain why your answer to part is an example of marginal analysis and optimizing behaviour in general.
Why has the cause of marriage equality been more successful in the United States than in Australia? How is marriage equality good for the economy?
Suppose that a company has a fixed proportions production function that requires it to use two machines and one worker to produce 1000 units per hour. What is the average and marginal cost of unit production (again, measure output in thousands of uni..
A competitive industry consists of 100 firms. The short-run marginal cost curve for each firm is given by MC=200+30Q. What is the supply function for each firm? What is the market supply function? Calculate the elasticity of supply at the market equi..
Does the existence of “efficiency loss” associated with health care over-consumption mean that citizens are worse off with the government’s provision of this insurance?
Write this statement as a logical statement using the appropriate logic symbols for conjunction and implication.
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