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Suppose that a certain manufacturer has a monopoly on the sorority and fraternity ring business (a constant-cost industry) because it has persuaded the "Greeks" to give it exclusive rights to their insignia.
a.)Using demand and cost curves, draw a diagram depicting the firm's profit-maximizing price and output level.
b.) Why is marginal revenue less than price for this firm.
c.) On your diagram, show the deadweight loss that occurs because the output level is determined by a monopoly rather than by a competitive market.
d.) What would happen if the Greeks decide to charge the manufacturer.
Based on your reading, which market structure is more applicable for the market for building commercial aircrafts, when there are two major manufacturers of the commercial airplanes and little possibility of entry by new firms:
Suppose if you were President of the United States and you were making decisions on trading, would you rather have a comparative or absolute advantage in trading?
Two individuals are having a picnic. Jane brings eight litres of soft drinks and two sandwiches. Bob, on the other hand, has two litres of soft drinks and four sandwiches.
Argyle is a huge, vertically integrated company that produces sweaters from a rare type of wool manufactured on its sheep farms. Argyle has adopted a approach of selling wool to firms that compete against it in the market for sweaters.
Discuss the differences among horizontal, vertical, and conglomerate mergers and what are real-world examples of each type of merger.
Suppose that in Canada opportunity cost of manufacturing 2 television sets is 3 bushels of wheat. Suppose that in the United States the opportunity cost of manufacturing 2 bushels of wheat is 3 television sets.
My income is $300 a month, the price of good X is $4, and value of good Y is also $4. Given these prices & income, I purchase 50 units of X and 25 units of Y.
Calculate and Plot using a spreadsheet (like Ms Excel) the series for Nominal GDP
What would happen to the growth rate of the money supply if foreigners lost confidence in the US dollar as a result of current uncertainty over the crisis of the fiscal cliff in the US economy while the Fed was trying nonetheless to maintain its c..
The dollar has being weaker against other currencies ever since Bush administration took office. The government did nothing to stem the refuse. From the point of view of economic policy, what would you think was the cause?
Assume the exchange rate between United State, dollars and the Swiss franc was SFr1.6=$1, and the exchange rate between United State dollars and British pound was L1=$1.50.
"Time" magazine, Canadian edition, has recently published an article on U.S. agricultural subsidies titled "Why our Farm Policy is Failing", November 2nd, 2007.
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