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What are the differences between perfect competition and monopoly competition?
Ans) In a monopoly, you are gaining an unfair benefit over any competition because you own so many infrastructures. Monopolies used to be called as trusts, which is why you sometimes hear of Anti-Trust Law violations.
At one time, AT&T owned each phone line, each phone and every piece of phone equipment in the country. They monopolized the industry; how could you compete with them when they owned everything? Likewise, the Post Office has an excellent infrastructure for delivering mail, but they do not have a monopoly due to FedEx and UPS and DHL have all found ways to carve out a healthy piece of the parcel moving business, so though UPS always grumbles about the Post Office, they do OK in competition.
The Budget Line: The Consumer Constraints The consumer would like to maximize his satisfaction by reaching the highest possible indifference curve. But in the process, he faces
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The exante real interest rate is based on _____ inflation, while the ex post real interest rate is based on _____ inflation. A) expected; actual B) core; actual C) actual;
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A critically important criterion that must be considered in evaluating environmental policies is whether they provide strong incentives for people to find new ways to improve ambie
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How can a country maintain equilibrium GDP with foreign trade?
No indifference curve can intersect due to all points on indifference curve are ranked equally preferred and ranked or less more preferred than each other point on the curve.
Imputed values included in GDP are the: A) market prices of goods and services. B) estimated value of goods and services that are not sold in the marketplace. C) price of
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