Reference no: EM13317470
1. A monopoly will look to find where its marginal cost would equal marginal revenue according to a downward sloping demand curve. For the monopolist, marginal revenue equal marginal cost is the profit maximizing condition, but does this level of production really guarantee a profit Is possible for a monopoly to lose money at this point How do average total costs figure into the profit equation for a monopoly?
2. With regards to monopoly, is it possible for a monopolist to earn zero economic profit Is it possible for a monopoly to generate a loss How does average total cost figure into monopoly profits?
3. However, is it possible to describe market structure by more than one dimension For example, what other market characteristics should we consider for oligopoly besides a few large companies controlling most of the market share?
4. Branding and product differentiation provide means for companies to create a monopolistic element to competition. Therefore, monopolistic competition must involve a lot of non-price competition. What are some of the ways companies engage in non-price competition?
5. Let's look at the other side of the argument for monopoly. Without monopoly status from patent law, would drug companies be able to develop and market new drugs Consider the average new drug costs about $1.5 billion to successfully bring to market.
6. Is a monopoly a good or bad market structure?
7. Let's integrate price elasticity into market structure. Would price elasticity of demand change with market structure?
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If the abc company owns the exclusive rights to mine land
: If the ABC company owns the exclusive rights to mine land in Afghanistan for Lapis Lazuli, a rare stone used in jewelry which is found only in Afghanistan, the company benefits from a barrier to entry.
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Which countries are experiencing a cost push inflation
: According to this week s lecture, there are two types of inflation (demand pull and cost push). Which countries are experiencing a demand pull inflation? ? You may need to complete additional research to determine the inflation type for each country.
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Explain the economic problem facing the consumer
: ECON 301 Intermediate Microeconomics Assuming diminishing marginal utility and an indifference curve with Apples on the X axis and Cheese on the Y axis, fully explain how the slope of the indifference curve measures the relative value of the goods ..
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By specializing in the production of particular goods
: By specializing in the production of particular goods in which it has a comparative advantage, a nation is:A) less likely to make efficient use of available resources.
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Is a monopoly a good or bad market structure
: With regards to monopoly, is it possible for a monopolist to earn zero economic profit Is it possible for a monopoly to generate a loss How does average total cost figure into monopoly profits?
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Discuss the business value in comparison to estimated cost
: Technical Feasibility: Discuss whether the technology required is available or will it need to be obtained. If the technology must be obtained, discuss how it will be obtained.
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Explain the economic problem facing the consumer
: ECON 301 Intermediate Microeconomics Assuming diminishing marginal utility and an indifference curve with Apples on the X axis and Cheese on the Y axis, fully explain how the slope of the indifference curve measures the relative value of the goods ..
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The law of diminishing marginal returns implies
: After a certain point, the more hours you spend studying economics per day, the less you will learn with each added hour. D. the more hours you spend studying economics per day, the more you will learn with each added hour.
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Explain how a government collects revenue via seigniorage
: Explain how inflation affects consumption in a cash in advance model (with transfers). What causes this to happen and explain how a government collects revenue via seigniorage
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