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Q. 1) Are there any firms that are really true monopolies? That is, there is absolutely no substitute for what the firm is offering? Provide an example of several firms to facilitate might come close to being a real and true monopoly? Knowing that the definition of "market power" is, do you think it's possible for a firm to be a monopoly and NOT have market power? Explain why or why not? And then, do think it's possible for a firm to NOT be a monopoly and have a LOT of market power? Why or why not?
2) a) Is MTA a monopolist in New York City? Do you think MTA possesses a high degree of market power? Why or why not?
b) If MC of letting another vehicle cross a bridge or travel through a tunnel is nearly zero, how should the MTA set tolls in order to max profit? How are these two objectives related?
c) With the decrease in demand for bridge and tunnel crossings, what is the optimal way to adjust tolls: raise tolls, lower tolls, or leave unchanged?
What profit do you expect that the firm will make in the first year? (iii) Do you expect this profit level to continue in subsequent years?
Social responsibility other than to make as much money for their stockholders as possible. Explain why you agree or disagree with such a statement.
Illustrate what are the levels of income every worker and consumption per worker.
Illustrate would be the effect on D' of decreasing the variable cost per unit by 25% if the fixed costs thereby increased by 10%.
Identify opportunity cost of increase divestment. What will happen to future production possibilities if investment increases.
q1. on one hand the wtos role in international trade is becoming more significant. on the other hand its verdict on the
Find a pop culture reference (from TV, movie, music, magazine...) of an economic concept. The reference can be anything we have covered in class.
Below is a list of domestic output and national income figures for a given year. All figures are in billions. The questions that follow ask you to determine the major national income measures by both the expenditure and income methods. The results..
Repeat these calculations for the third, fourth, and fifth years, assuming that the Government taxes at a rate each year and has noninterest expenditures annually.
Evaluate the risk categories, countries, and industries represented in this index 2019s leading companies.
If offered the choice between a 10 percent increase in her hourly wage rate, which would Helga choose? Assume that she is free to choose her hours of work.
Now suppose Starbucks introduces world to premium blends, and so demand rises substantially.
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