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Question 1:
Arrange the following four kinds of market on a continuum where one end will have perfectly competitive market and another extreme is monopoly. Plot these four markets on a continuum either from perfect competition to monopoly or from monopoly to perfect competition (be careful in indicating two other kinds of markets i.e., monopolistic competition and oligopoly). Now please comment whether and why market power in the hands of sellers is increasing or decreasing along the continuum.
Question 2:
Discuss situations involving binding price ceiling and price floor. You can pick your examples from housing industry, health care industry, or from any other industry.
q1. in may 2011 the average price of gasoline in the united states was 3.76 per gallon and consumers bought 5 percent
Suppose that Country B has the same amount of net private saving in Year 1 and in Year 2. However, the government of Country B has a budget surplus of $200 billion in Year 1 and a budget surplus of $100 billion in Year 2. Other things equal, this ten..
The Governor of Arkansas has asked you (her crack economic advisor) to analyze how employment in trucking and poultry processing will be affected if the legislature passes a proposed law that will increase labor cost in both industries by ten percent..
Under the modern traditional theory the sovereign may nationalize foreign-owned property only where:
Assume that Roscoe's Rascals decided to add the pet food line. A copy company wants to expand construction.
Do you think that monetary policy is easier to make than fiscal policy? Why is one easier or harder than the other? What is the Goal of each of the policies? Are the goals in conflict or complements of each other?
Dewey Cheatham is the new Vice President of Marketing for a large online search engine company, Pottstown Innovative Enterprises (AKA, PIE). Dewey has been doing some research into how he can increase the Company’s revenues and thereby really impress..
If physicians can gain large per capita wealth effects from state regulation and consumers can gain relatively small per capita wealth effects from state regulation, which of the two groups does the economic theory of regulation suggest will control ..
Eddie’s Precision Machine Shop is insured for $700,000. The present yearly insurance premium is $1.00 per $100 of coverage. A sprinkler system with an estimated life of 20 years and no salvage value can be installed for $50,000. Annual maintenance co..
Find out the marginal revenue also the marginal cost functions and show them graphically. Find the monopolist's price, output, profit, and the price of the cost margin.
The GDP is a total market value of final goods and services produced within a country over time. Why is this a reflection of this country's cost of living so varied making expenditures.
Illustrate what is the quantity of burgers demanded in equilibrium.
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