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"Three main facts indicate that Microsoft enjoys monopoly power. First, Microsoft's share of the market for Intel-compatible PC operating system is extremely large and stable. Second, Microsoft's dominant market share is protected by high barrier to entry. Third, and largely as a result of that barrier, Microsoft's customer lack a commercially viable alternative to Windows."Why these elements related to monopoly? Are all three necessary? If not, which ones are crucial, explain your answer.
Trace the evolution of work on the laissez-faire doctrine through two arcs. First those theorists who are trying to prove that the system is stable
Europe has leveled off at Illustrate what fraction of GDP every capita in the United States.
Elucidate in detail the interrelationships between economic facts, theory, and policy. Critically evaluate this statement: "The trouble with economics is that it is not practical. It has too much to say about facts."
Illustrate what mistakes did policymakers make that have kept developing nations from growing more quickly.
Assume you have a production technology to can be characterized by a learning curve.
What would the annual percentage change in velocity have to be on average for the quantity theory to hold.
Which is most likely occur under a system of clearly defined and enforced private property rights.
What is the equilibrium price? What is the equilibrium quantity? (d.) If the market price is $5 will there be a surplus or a shortage? Of how much?
Suppose without trade, country A produces and consumes 100 units of widgets at a price of $10 each. Illustrate what is the total gain or loss from trade for country A.
Refer to situation. An economist would predict that onc e price controls were abolished in the spring of 1974,A) The price of gasoline would decline sharply B) The surplus of gasoline would vanish
Show how the transaction would have been recorded in the German balance of payments accounts. What was the net effect on the German balance of payments.
Draw the demand curve and show the values of the price and quantity intercepts using the linear equation for Qx=28,000,000-Px divided by 1000.
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