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Show graphically how regulating the value of a monopolist can both increase quantity and lower price.[A] Why did the regulation have the effect it did?[B] How relevant to the real world do you believe this result is in the "contestable markets" view of the competitive process?[C] How relevant to the real world do you believe this result is in the "cartel" view of the competitive process?
Examine the models of oligopoly and create at least one recommendation for improvement. Describe your rationale.
Give an example of a monopoly, an oligopoly, and a cartel. Describe the welfare effects of monopolies and oligopolies.
For each of following cost-output relationships, explain the shape (U-shape, decreasing, increasing, constant) of the average total cost and marginal cost functions
A firm has estimated the following demand function for its product:
Discuss and explain supply and demand as well as elasticity concepts of Walmart. Incorporate these ideas to validate how the corporation establishes its pricing strategy.
Professor Michael Porters generic strategy options for competing are the differentiation approach and cost leadership approach. The first involves competing by having the better product and second by having lower cost that ones competitors. Relate..
Assignment on Supply, Demand & Taxes, Supply, Demand, and Taxes, The market for tennis shoes exhibits the following supply and demand schedules:
What are the pros and cons of conducting an experimental versus an observational study? What are examples of these studies? Can both types of studies be used for all projects?
Consider a sharecropper whose contract calls for him to receive ¾ of the output produced in the farm on which he works. Suppose that the value of the marginal product of labor on the shared cropped land is given by 80-L. Where L stands for hours o..
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?
Why do you think firm 1's marginal cost is lower than firm 2's marginal cost? Determine the current profits of the the two firms. What would happen to each firm's current profits if firm 1 reduced its price to $6 while firm continued to charge $8?
Assume each worker is paid $10 per hour and works a 40-hours week. How many workers should the firm hire if the price of the output is $ 10? Suppose the price of the output falls to $7.50.What do you think would be the short-run impact on the firm..
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