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1. What factors explain the existence of monopoly power in markets? Do you believe any of these factors are more impactful than others? Explain your position.
2. "At the profit maximizing level of output, monopolies charge a higher price and produce a lower quantity than purely competitive firms."
Discuss this statement in some detail. What are the implications for resource allocation in a monopoly as compared to the allocation in pure competition?
3. What are network effects? What market power does a social network such as Facebook imply for a business that has a Facebook profile?
4. What market form characterises competition in the supermarket industry in Australia? What allows some firms to dominate the industry? Explain how Game Theory may provide some important insights into the rivalry that exists between the largest firms.
Is market capitalism necessary for freedom? Explain why or why not. Are market economies necessarily “capitalist” and are command economies necessarily “socialist”? Why or why not? What causes macroeconomic instability of market capitalism? Explain.
Cigarettes currently sell for $10 a pack. Suppose the government imposes both a $4 sales tax and a $7 excise subsidy on cigarettes. Use a graph to demonstrate that the new price must be somewhere between $3 and $6 a pack.
Alex earns $85,000 per year and decides to invest 12% of his salary in a savings account with a return of 7% at the end of each period for 10 years for future use. a)If his salary increases by 2.5% every year, What would the future worth of his inves..
Identify four (4) forms of price discrimination that various entities are subjected to in the consumer market.
q.the bolt-making industry currently consists of 20 producers all of whom operate with the identical short-run total
Find three (3) individuals from the population that you are addressing. If you have a broad topic, find someone experienced in the field. Use the information you have gathered thus far to guide your conversations.
Four types of financial intermediaries are: A common strategy to reduce the potential of a large financial loss is to: Shares of stock represent:
Point out which costs (sunk cost, incremental cost, fixed cost, variable cost, marginal cost, opportunity cost, out of pocket cost) are considered "relevant" and which are considered "irrelevant" to a business decision. Explain why.
Illustrate what about Italian labor-force participation rate and unemployment rate.
Two banks (Franklin and Lincoln) compete for customers in the growing city of Logantown. Both banks are considering opening a branch office in one of three new neighborhoods: Is there a pure strategy for this game? If so, what is it? If not, identify..
Given an initial deposit of $500,000, and a required reserve ratio of 15%: Calculate the simple money multiplier: Calculate the total change in the money supple from the deposit based on the new RRR: Is the decrease of the required reserve ratio fro..
If the tax multiplier is -1.5 and a $200 billion tax increase is implemented, what is the change in GDP, holding everything else constant? (Assume the price level stays constant.) Suppose real GDP is currently $12.5 trillion and potential real GDP is..
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