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A monopolist can earn positive profits in the long run because it has market power, allowing it to charge a price that is higher than marginal cost.
In the case of a natural monopoly (i.e. a firm whose average cost decreases as output increases due to large fixed and low marginal costs), the government should generally regulate the monopolist to charge a price equal to marginal cost.
A monopoly with a more elastic demand curve will have more market power.
Patent protection essentially gives software developers a monopoly; therefore, the practice of granting patents to developers should end.
You're the manager of monopolistically competitive firm. The present demand curve you face is P=100-4Q. Your cost function is C(Q)=50+8.5Q2 (That's Q squared).
Assume there are two services offered in economy: dance clubs and college education. Both require the use of limited resources, but not all of the resources used in each one can be readily transferred to the other.
Evaluate price elasticity of demand
Consider a company that uses two inputs. The quantity used of input one is denoted by x_1 and quantity used of input 2 is denoted by x_2.
What specific standard is applied to a firm whose only contact with a forum state is through its Internet site? If you had an eBusiness, what could you do in order to limit your liability to suit in multiple jurisdictions?
Select a product you have purchased in the past month from a clothing or shoe store. Explain how each of the four factors contributed to the elasticity of the good.
Describe how the circular flow diagram illustrates the interaction of households, governments, and business and Describe the relationship between market and aggregate supply and demand?
Firms like Papa John's, Domino's, and Pizza Hut sell pizza and other products which are differentiated in nature. While numerous pizza chains exist in most locations, the differentiated nature of such firms products permits them to charge prices a..
Explain your question and receive the step-by-step response ASAP. Describe in detail one factor which makes an industry a competitive industry and provide a real life example of this factor at work.
Will firms in industries, in which high levels of output are necessary for minimum efficient scale, tend to have substantial degrees of operating leverage? Please explain.
The demand and supply curves for T-shirts in LA, Ca, are given through the following equations, Determine the equilibrium price and quantity after the shift of the demand curve.
Assume a monopolist faces the following demand curve: P = 180 - 4Q. Marginal cost of production is stable and equal to $20, and there're no fixed costs. What is the monopolist's profit maximizing level of output?
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