Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Answer ONE QUESTION from the three below using economic concepts to validate your explanations. Write one substantive paragraph for each question PART.
Q1 a) Why is an oligopolist more likely to be able to earn a profit in the long run compared to a monopolistic competitive firm? b) If all the firms in a monopolistically competitive industry were merged into one large firm, would that new firm produce as many different brands or would it produce only a single brand? Explain your reasoning.
Q2. a) To what extent should government subsidize domestic firms to enable them to compete more successfully with foreign rivals? b) Some political leaders argue that we should do away with certain antitrust laws to facilitate cooperation between firms in their competition with foreign rivals. How would you defend or criticize this reasoning using your knowledge of economics?
Q3. Evaluate the wisdom of having the Federal Trade Commission and Department of Justice using profit as a measure of monopoly power in deciding whether to prosecute a case. How would such a rule be expected to affect the behavior of firms with high profits? In what ways might any changes induced by such a rule be socially beneficial, and in what ways might they be socially harmful?
Governments sometimes try to change government spending or taxes to affect real output and the price level. If the government wants to use either government spending or taxes paid by households to increase aggregate demand, how should G change and ho..
What element(s) would you give as the cause(s) of Colbert’s failure to achieve his master plan for France?
The lag between the time the need for physical action is recognized and the time action is taken is referred to as the
One way to design a housing subsidy is to pay a certain percentage of a tenant’s rent, allowing the renter to shop for whatever housing the person thinks most appropriate. An alternative policy is to pay a fixed dollar amount toward whatever rent the..
Both individual and market demand curves have negative slopes and reflect the law of demand. What is the difference between the two curves?
1. Suppose the demand for sunscreen (X) has been estimated to be ln Qx = 5 - 1.7 ln Px + 3 ln S - 3 ln Ay, where S denotes the average hours of sunshine per day and Ay represents the level of advertising for good Y. a. What would be the impact on ..
Joe won $365,000 a year for life in the state lottery. Use a labor-leisure choice analysis to answer the following: Show how Joe’s lottery winnings affect the position of his budget line. Joe’s utility function for goods per pay (Y) and hours of leis..
(Comparative statics analysis in the Cournot Model) Assume two firms produce the same homogeneous good, facing the inverse demand function P(q1+q2) = k−q1−q2, where k > 1 is a positive constant, q1 is the quantity produced by firm 1 and q2 is the qua..
Explain price elasticity, income elasticity and cross elasticity of demand. Assess relevance of price elasticity of demand, income elasticity of demand and cross elasticity of demand to a magazine publisher.
If the government provides every citizen a hula-hoop then it follows that in economic terms:
Past sales show that when a scanner is priced at $175, the quantity demanded is 350 units per week. For each $5 drop in price below $175, the quantity demanded rises by 50 units per week. The manufacturer will not market any of the devices if the pri..
A police officer stops a subject based on reasonable suspicion that the subject is about to engage in criminal conduct and has reasonable suspicion that the subject is armed. While conducting a frisk or pat down of the subject, the officer feels an o..
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd