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Discuss the major barriers to entry into an industry. Explain how each barrier can foster either monopoly or oligopoly. Which barriers, if any, do you feel give rise to monopoly that is socially justifiable?
Describe a long-term contract shoeing all necessary steps that the current supplier can offer the buyer that will be attractive to the buyer and will also strengthen the incumbent's monopoly power.
Assume the US increases tariff on automobiles imported from Germany and other foreign nations. Determine the effect of this tariff-rate increase on
Use the information on U.S. real GDP below to calculate real GDP per person for each year. Then use these numbers to compute the percentage increase in real GDP per person from 1987 to 2005.
Consolidated Drugs, Inc. has spent $4 million developing and testing a new anti-aging drug. Management now estimates that it will cost $2 million to produce and market this new product.
Suppose that the equilibrium quantity in the market for widgets has been 200 per month. Then a tax of $5 per widget is imposed on widgets.
Could anyone find out how the Consumer Price Index (CPI), the primary measure of inflation used by the government, is calculated. Why might this method not reflect the real cost of living increase for the average person.
Illustratr what can you infer regarding the own price elasticity of demand for Big G cereal.
Elucidate how does the fiscal policy impact your organization or a selected organization with which you are familiar. Provide two scenarios to show the impact.
Explain how are the slope of a production possibilities frontier and the opportunity cost of the goods related.
Distribution of costs and benefits Suppose that the government decides to guarantee an above market price for a good by buying up any surplus at that above-market price. Using a conventional supply-demand diagram.
The FCC has hired you as a consultant to design an auction to sell wireless spectrum rights. The FCC indicates that its goal of using auctions to sell these spectrum rights is to generate revenue.
Explain the most important economic, political or social issue facing the United States.
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