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a. Why does a prospective monopolistic competitor find it relatively easy to start production in the long run?
b. Why does the demand curve of a monopolistic competitor shift down when more firms start production?
c. Why is it difficult or impossible to define the industry under monopolistic competition?
d. Why is there a cluster of prices rather than a single equilibrium price in this kind of industry?
Why is income inequality regarded by many people as a form of market failure and describe how tax creditsare used in New Zealand to modify the distribution of income
Innovation lagged in the centrally planned economies because: there was too much domestic business competition. there was too much competition from foreign firms. A positive statement is one which is:
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Assume a given demand curve for massage therapy services. In the context of providing massage therapy services, list, and describe in detail, five different variables that may cause an increase in the demand for these services.
This assignment focuses on the comparison of perfect competition and monopoly in terms of efficiency and fairness. To complete this assignment you must complete all of the following questions. Microeconomic Problem
Prepare a 2 page paper using APA format discussing Airline Ticket Prices.Explain the rationale behind equal prices for unequal distances in air travel using supply, demand, and cost curves.
A monopolist is currently producing a level of output where Price = $110; Marginal Revenue = $10; Quantity = 100; Total Cost = $15,000; Marginal Cost = $10; Total Fixed Cost = $4,000.To maximize profits in the short-run, the monopolist should do.
Using the following equations Qs = 13,000P and Qd = 48,000-6,000P. Plot supply and demand curves (require a graph). Determine the equilibrium price?
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Graph Jay's budget constraint when her income is 50, and the price of housing and food is 2 and 10 respectively. What happens to her budget constraint when M increases?
Mankiw discusses that if federal authorities suppose responsibility, entire financial system might well become a group of government sponsored enterprises.
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