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Discussion
Patents are one way that government allows a monopoly to form. The down side of this is for the life of the patent (normally 20 years) consumers pay a higher price for this good. A big question was posed at the end of your chapter this week about a patent for AIDS medication. This drug saved lives, but the price that the monopolist changed was too high for many patients, especially in Africa, to afford the lifesaving drug.
Explain how you think the US should handle a situation like the AIDS medication?
Your post should be at least 300 words.
Assume the government mandates that all firms over 50 employees must provide an increased level of health care benefits. Could you please describe what effect this will have on the aggregate supply curve.
The FCC has hired you as a consultant to design an auction to sell wireless spectrum rights. The FCC indicates that its goal of using auctions to sell these spectrum rights is to generate revenue. Since most bidders are large telecommunications co..
When 2-mutually exclusive projects are considered, NPV calculations and IRR calculations may, under certain circumstances, give conflicting recommendations as to which project to accept.
Elucidate what are the impacts of innovation and technology on the cost of production. What are the effects of technology on the various market structures.
What can you say about the relationship between marginal revenue and marginal cost for output rates below the profit-maximizing (or loss-minimizing) rate? For output rates above the profit- maximizing (or loss-minimizing) rate?
1. Technological improvement leads to increases in factor productivity but does not contribute much to the growth of aggregate real income for a nation.
In the United States, managed care is becoming an increasingly popular method of administering healthcare. It influences the clinical behavior of providers, as it combines the payment and delivery of healthcare into a single system, the purpose of..
Which of the following is a private transfer payment Unemployment benefits received by newly laid-off workers The sale of used clothing at a thrift store The Social Security benefits sent to a retired worker A check for $250 sent by a parent to a ..
Give examples of competition of firms in Oligopoly and Monopolistic Competition, from the real world. In which market will one firm's probable decision affects the other firm's decision? Try to think of situations of of how they would compete in t..
Explain why the cost structure associated with many kinds of information goods and services might imply a market supplied by a small number of large firms.
Find (algebraically) the points where the MC function intercepts the AVC and the ATC functions. (Hint: at one interception point MC = AVC and at the other MC = ATC)
If a firm had everywhere increasing returns to scale, what would happen to its profits if prices remained fixed and if it doubled its scale of operation?
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