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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.
You are the CFO for Carnival Corportaion and your boss, the CEO informs you that he wants to add three new cruise ships to the company''s inventory. Each ship will cost $500 millio
Price elasticity of supply – Computes the percentage change in quantity supplied resulting from a 1 percent variation in price. – The elasticity is usually positive as price
Is it true to say that inflation can only sustain with the increase in money supply? Inflation can only be sustained if there is a persistent enhance in money supply. If there
Structural Unemployment: This is unemployment resulting from changes in the pattern of demand for goods and services or changes in technology.These changes may in turn alter
How has the haberler''s theory of opportunity cost been an improvement over the classical theory of trade
note for assignment
A country s choice among the production of education and nuclear submarines is an issue of opportunity cost. Explain the issue using a PPF. Resources are limited whereas
consumer choice involving risk
Rework figure 1 assuming a closed economy
What are the properties of the profit function? Properties of the Profit Function: The properties specified below follow solely by the assumption of profit maximization. No
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