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A few large companies, and a few small companies. The competition still exists amongst these firms in terms of product/ service, etc. What one firm does will impact the others. Entry and exist into these industry is difficult. Why? Because economies of scale has been established all ready...making it VERY expensive for other firms to enter into the industry. ---A branch of oligopoly is called a Cartel--- Same attributes of a oligopoly, however, there is now cooperation within the firms (cooperation with output, marketing, distribution and marketing).
Kant asserts that human life is best understood as a "war of every man against every other man." This means all people want to have whatever they deem appropriate to a comfortable life for themselves.
Summarize Walt Disneys marketing mix based on one or several of the following elements: Product and branding strategies (appropriate service strategy if the company has a consumer orientation). Supply chain strategies (how they place the product in t..
q. speedy growth of the nationwide debt alarmed various politicians as well as created pressure for restricting
Suppose there is a policy debate regarding the United States imposing trade restrictions on imported steel rods: The president of the United States argues that the United States should threaten to impose a tariff on Chinese steel rods in order to ind..
Assume new suppliers enter the market due to the increase in demand so the new supply curve is Q= -500 + 10P. Illustrate what are the new equilibrium price and equilibrium quantity.
Suppose the President gets Congress to pass legislation that encourages investment in research and the development of new technologies. Assuming this policy leads to a positive productivity change for the U.S. economy, use aggregate demand and supply..
What is the difference between relative factor endowments and relative factor intensities? What does the Hecksher-Ohlin theorem say about home versus foreign countries while they remain in autarky? What happened to the Leontief paradox when human ca..
Suppose Guatemala has extremely high tariffs and so is in autarky. Draw a partial equilibrium supply-demand diagram for computers in Guatemala. Label consumer surplus and producer surplus.
Explain why dead weight loss is considered as loss of welfare of the society because of tax levy. Why does dead weight loss not total the loss of society? Will levying tariffs on imported goods protect domestic industries, consumers, or will it save ..
Recall from Exercise Ul the population of animals fighting over a food source worth 200 calories. Assume that, as in part (b) of that exercise, the cost of a fight is 150 calories per fighter. Assume also that a third phenotype exists in the populati..
In your analysis, make sure to provide an example of each type of externality. Why does the government need to get involved with externalities to bring about market efficiency? What solutions need to be provided for your xamples?
Suppose we now care about the long run decisions of a firm that has a production function of the form q = 4L^1/2 + K. Assume that, at the beginning when w0 = 1 and r = 0.5, the firm chose to produce q0 = 20 units of output. Then, the wage increased t..
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