How does advertising help consumers and promote efficiency

Assignment Help Other Subject

Reference no: EM133210397

Microeconomics Assignment Questions -

Q1. What is systems engineering and how has Elon Musk applied systems engineering to cut costs and increase profits? Are Musk's innovations subject to competition, copycats, and creative destruction? Over the long run, how can Musk continue to generate economic profits?

Q2. U.S. pharmaceutical companies charge different prices for prescription drugs to buyers in different nations, depending on elasticity of demand and government-imposed price ceilings. Explain why these companies, for profit reasons, oppose laws allowing re-importation of drugs to the United States.

Q3. It has been proposed that natural monopolists should be allowed to determine their profit-maximizing outputs and prices, and then government should tax their profits away and distribute them to consumers in proportion to their purchases from the monopoly. Is this proposal as socially desirable as requiring monopolists to equate price with marginal cost or average total cost? Explain.

Q4. Why is there so much advertising in monopolistic competition and oligopoly? How does such advertising help consumers and promote efficiency? How does advertising promote inefficiency?

Q5. Why do oligopolies exist? List five or six oligopolists whose products you own or regularly purchase. What distinguishes oligopoly from monopolistic competition?

Reference no: EM133210397

Questions Cloud

What are the investigative goals for death investigators : Coroner system for the investigation of unnatural, sudden or unexplained deaths? What are the investigative goals for death investigators?

Explain the recognition system in organizations : Explain the recognition system in organizations and identify why the public recognition is better than the private recognition

Regarding inactivation step of polio vaccine : Which of the following is true regarding the inactivation step of the polio vaccine:

Advise trustees of peters will on the validity : In case of doubt as to who is an old railway enthusiast friend, my wife Elizabeth can be asked. She knows who they are. Advise the trustees of Peter's will

How does advertising help consumers and promote efficiency : Why is there so much advertising in monopolistic competition and oligopoly? How does such advertising help consumers and promote efficiency

Utilization of unfamiliar trade : On the side of those responsibilities, most signatory countries had kept up with severe command over their nationals' utilization of unfamiliar trade.

What factors are relevant to your decision : Do you sue or agree to the supplier's request to institute an Alternative Dispute Resolution process and What factors are relevant to your decision?

What tests will the court apply in future cases : According to Tinker, under what circumstances may schools regulate student speech? What tests will the court apply in future cases?

Additional structure in plant cells : What is present in both animal and plant cells but provides additional 'structure' in plant cells?

User Account

All Pages