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ABC is monopoly seller of aluminum in the United States and sells no aluminum on world market. It sells aluminum domestically for $2500 per ton and its average expense is $2200 per ton. The world price is $2000 per ton. (High tariffs prevent foreign firms from exporting into the U.S.)
True or False: "Obviously, ABC should not sell any aluminum on the world market." (Assume if it did it would have effect on the world price- the world market is perfectly competitive.) How if at all would your answer change if you know that ABC's technology had decreasing returns to scale? Explain.
Explain the circumstances in which a monopolist may encounter a free rider problem and determine the senses in which a perfectly-discriminating monopolist is efficient or inefficient.
Assume your elasticity of demand for your parking lot spaces is -.05, and price is $20/day. If your MC is zero, and your capacity at 9 a.m. is 96% full over the last month, are you optimizing?
Suppose a firm has the following demand equation, Assume the company decreased the price to $2.50. Would this be beneficial? Explain. Illustrate your answer with the use of a demand schedule.
The Haas Corporation's executive vice president circulates the memo to the firm's top management in which he argues for reduction in price of firms product. He says such a price cut will raise the firms sales and profits.
Which market structure is best suited for the pharmaceutical industry (perfect competition, monopolistic competition, monopoly and oligopoly)
The market environment heavily effects corporate decision making ability. Define and explain the difference in executive decisions concerning pricing, product design,
What is the initial effect of the tax reduction on aggregate demand? What additional effects follow this initial effect? What is the total effect of the tax cut on aggregate demand?
Brief history of the automotive industry, an automotive industry overview, and a SWOTT (Strengths, Weaknesses, Opportunities, Threats, and Trends) analysis of the automotive industry.
When developing short-run cost curves, it is supposed that all firms in perfect competition have the same cost curves and they all make identical short-run profits or losses.
What is the law of diminishing returns? Can you provide an example of when diminishing returns have set in (could set in) at a work place?
Examine the models of oligopoly and create at least one recommendation for improvement. Describe your rationale.
Explain and discuss the differences between private goods, public goods, natural monopolies, and open-access goods.
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