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Explain how consumers might benefit from the existence of monopolies.
While the standard issue of monopolies having higher prices and lower output that competitive markets might often hold true, there are three major notable exceptions:
1) Natural monopolies;
2) Monopolies which have large benefits of scale; and
3) Large abnormal profits re- invested in R&D and innovation.
how pp curve can solve the central problems of an economy?
The Equilibrium Consumption Combination equilibrium for the person occurs at the point where the indifference curve, shown by II, is tangent to the budget line, portrayed by BB. T
Write an objective analysis paper on the economics of outsourcing and insourcing production by businesses. Please make sure you have a thesis (a main point that you are making) and
Describe one case that fits the story of Prisoner Dilemma in not more than 10 sentences. It should fit the following features and it should not be any of the examples we already ta
Dolph, Jimbo, and Kearney are the only individuals participating in the very particular labor market for ‘protective’ services. Dolph''s labor supply is given by ????????=-46+0.874
write about the origin of sylos labini''s limit pricing model
The raspberry growing industry is a perfectly competitive industry. The firms in the industry have a U-shaped LAC, minimum average cost is $8 and the minimum efficient scale is 4 u
Consider a market with short run demand and Supply functions. Qd=4-p^2, Q''s=4p-1.Find the partial market equilibrium, calculate consumer and producer surplus at this equilibrium,
Surplus: Anysector or agent in economy (business, householdor government) experiences a surplus when its income surpasses its expenditure. Surplus, Economic: For the economy
Can marginal cost be constant? If so, does this mean that marginal cost are equal to average variable cost?
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