Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Solved Assignments
Asked Questions
Answered Questions
Discuss the effect of patient expiration on the market structure, pricing, and profitability for the drug.
It costs the firm $20,000 even if it produces nothing, and $15 for every unit above that. Find the price and quantity sold in each market. WHat is the firm profit?
Define a normal profit and an economic profit. Are normal profits being earned in this example? Are economic profits present for this firm in this example? Explain your answers.
Problem: Which of the following is true under monopoly? 1. profits are always positive. 2. P > minimum of ATC. 3. P = MR. 4. none of the above are true.
When a ski resort with some monopoly power is maximizing profit, price is greater than marginal cost. Thus, consumers are willing to pay more for additional lift tickets than the tickets cost to pro
Suppose that we, as consumers, have the option of having an AIDS vaccine produced by a monopoly or of not having the vaccine produced at all. Under which option would we better off? Why?
Explain why a certain triangular area is a measure of the deadweight loss of monopoly. What information do you require in order to calculate the size of this triangle?
Studies have concluded that the deadweight loss of monopoly power in the US is less than 0.5 percent of GNP. From your knowledge of the determinants of the deadweighlt loss, explain why such a small
Explain what natural monopoly is in terms of the relationship between cost curves and the demand curve. If the market is left to itself, what price and output will result?
Q1. How would you describe its market structure? Q2. What is the approximate Herfindahl index? Q3. What is the four-firm concentration ratio?
Suppose a monopolist could perfectly price discriminate (i.e., this would be 1st degree price discrimination). Compare the consumer surplus, producer surplus, and total surplus in this situation to
Even if firms in a monopolistically competitive market collude successfully and fix price, economic profit will still be competed away. Explain (include an explanation of economic profit in your ex
(A) What are the advantages of the Herfindahl index over concentration ratios in measuring the degrees of concentration in an industry? (B) What is the disadvantage of both?
1) If the Smith Company spends $200,000 on advertising, what is the marginal revenue from the extra dollar of advertising? 2) Is $200,000 the optimal amount for the firm to spend on advertising?
Problem: Assume that firms in the short-run are earning above-normal profits. Explain what will happen to these profits in the long-run for the following markets:
Question: Give detailed analysis of pricing strategies specifically related to each kind of market structures:
What kind of market structure exists for the oil producers (i.e. the ones who pull it out of the ground and ship and sell it as crude oil)? What does this market structure tell us about the pricing,
Response the following question by using appropriate APA style of writing. Task: Address the differences between monopolies, monopolistic competition, and oligopolies.
1. Determine the optimal two part pricing strategy. 2. How much additional profit do you earn using a two part pricing strategy compared with charging the consumer a per unit price?
Why is the government so quick to regulate monopolies and potential monopolies? What are the major concerns and evils that arise from this market structure?
Who was right in this case? In other words, did Microsoft's bundling of Microsoft Explorer with Windows extend its operating system monopoly and "substantially lessen competition and tend to create
1. Define a monopoly. 2. Find two examples of monopolies and they cannot be the same type of monopoly (no choosing two government monopolies for example).
The monopolist and the perfect competitor differ in that: - they face different demand curves - the monopolist does not always produce at an output at which MC=MR - the monopolist is always a large fi
Provide an example of a price discrimination for a good or service that you thought it to unfair. Do you still believe that the discrimination is unjustifiable.
Imagine monopolizing a service or product of your choice. Discuss how you would go about setting prices for your product or service.