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We have discussed several ways in which industries are organized. Now imagine a newly emerging industry, perhaps born on the internet. Without knowing anything else about it, imagine yourself a government official with responsibility for monitoring this industry. Assuming you are public spirited and honest, what kind of competitive structure would you like to see emerge and why?
The United States dollar exchange rate can be affected by changes in the current account, capital account and official reserve transactions.
What is the relationship between productivity and the cost of production, and how does the cost of production vary over the short- and long-run?
Name the circumstances which indicate an oligopolistic market structure and discuss a real life example of such a market structure. What are the most significant differences between oligopolistic and perfect competition from the consumer's point o..
What fact might lead the manager to be concerned? If true, what do you think is likely to happen to the price of products G.R. Dry Foods sells?
If Advanta believes raising fees is a profitable move, then why would it delay implementing the higher fees, which could reduce the amount of profit generated by higher fees?
Assume the recent volcanic events in Iceland, which disrupted European air travel significantly, represented just starting. In other words, assume that experts forecast a world-wide series of big eruptions from active volcanoes.
How many additional watches can be produced by an extra hr of labor? As a profit maximizer what price and output should the firm set? Is production capacity fully utilized? What contribution does this product line provide?
Which country has a comparative advantage in producing fish? Explain why. Suppose that trade takes place between Kiribati and Tuvalu. Which good will Kiribati import from Tuvalu? Explain why.
Describe the difference between movement along the demand curve and a shift in demand. Provide an example to help the class understand the difference between the two.
Explain how a item might evolve from one market structure to another and what that means as to the value, competition and number for companies producing that product.
Explain the concept of a concentration ratio and is the concentration ratio in a monopolistically competitive industry likely to be higher than for a perfectly competitive industry? Explain your answer
What are its limitations as an economic measurement? How is the Human Development Index (HDI) a better barometer of economic well-being? What are its advantages and disadvantages?
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