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Compare the efficiency of monopolistic and perfectly competitive markets.
Discuss the economic factors that lead to the development of monopolies. Examples of monopolies include electric utilities, railroads, airlines, cable television, and sports leagues. Try to focus your answer on a specific industry.
Governments grant temporary monopolies through patents and copyrights to pharmaceutical companies, authors, and artists. Consider the trade-offs that society must make when granting those temporary monopoly rights.
Given what you know about perfectly competitive markets, compare the efficiency of monopoly and perfect competition. Which is more efficient? Explain your reasoning and try to illustrate with a hypothetical example.
Respond to each of the following questions in 150-200 words each covering the economic topics and concepts described in chapter 9 and 10 of the text, Essentials of Health Economics.
Suppose the average annual temperature in the state of New York were to decline for three years in a row. How would that fact affect/contribute to the argument as to whether global warming is occurring and whether we should do something about it?
The government plans to rise state spending by $2bn in the next fiscal year.
Assume an industry is a duopoly. Elucidate the best response functions for A and B.
Assume a consumer who buys cola and ice cream for snacks. Assume that the price of ice cream increases. Which of the following is an example of the substitution effect.
Write out the payoff matrix for this game, and then find its Nash equilibrium.
what might prompt the government to establish this price ceiling? next suppose that the government establishes a price floor of $4.60 for wheat. what will be the main effects of this price floor?
Assume the average value of P is $ 3 and the average value of Po is $ 6. Illustrate what is the price elasticity at the average values of P and Po.
Describe the point at which diminishing returns occur. Indicate the points that delineate the three stages of production.
q1. a monopolist has demand and cost curves given byqd 10000 - 20ptc 1000 10q .05q2a. find the monopolists
At university he attended, he spent $2,000 on books, $1,000 on cough medicine and earned $12,000 as an economics instructor. Illustrate what were Jon's economic costs while attending college.
Chris consumes only 2 goods, Suppose his utility function is U(X1,X2)=X1 1/3,X2 2/3, Suppose P1 =$2,P2= $8 and income(I)=$600 I want to know how to do the problem, so I need to see all the steps it takes to arrive at the correct answers for a,b and c..
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