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Why will its price and output decisions differ from the price and output decisions of a perfectly competitive firm? Why?
A California biotechnology firm submitted a tomato that will not rot for weeks to the U.S. Food. Where tomatoes are generally placed on salad bars in winter?
Demonstrate graphically the relationship between ATC, AVC, and price faced by Zany Brainy stores when they decided to close.
What is the key difference between a monopolist and a perfect competitor? Does a monopolist take market price as given? Why or why not?
Draw the MC, ATC, MR, and demand curves for this monopolist. At what output level would the monopolist produce?
Demonstrate the welfare loss created by a monopoly. Will the welfare loss from a monopolist with a perfectly elastic marginal cost curve be greater or less.
What three things must a firm be able to do to pricediscriminate? What effect does this have on fares and the number of flights at those airports?
How well does the theory of perfect competition reflect the real world? What role, if any, does the government have in promoting perfectly competitive markets?
Do they allow life forms to be patented? Should they? If humans can create life forms, does that undermine the existence of God? (Religious)
How do firms differentiate their products? Aside from commodities such as gold and grain, how many homogeneous products can you name?
When is product differentiation real and when is it an illusion? Is there an objective universal answer to a? Are there any individually objective answe
Explain the effects on college education of the development of teaching machine that you plug into student's brain and that makes student understand everything.
When you buy a cheap computer printer or home fax, you can sometimes get it for free after the rebate. Why would a firm sell you something for a zero price?
What policies might you suggest for them to consider to stop the practice, and what are the potential problems with those policies?
Most magazines offer enormous subscription deals for college students. What is a likely reason why magazines sell their subscriptions so cheaply?
How does John D. Rockefeller's late 19th-century view that he liked to give competitors? What are the policy implications of predatory exploitation?
Austrian economists observe that most lasting monopolies are the result of government. What cautionary advice could we draw from this observation?
What are the ways in which a firm can differentiate its product from that of its competitors? What is the overriding objective of product differentiation?
Demonstrate the likely long-term profit in this market structure. Firms have complained to the FTC that this practice is unfair. What is their likely argument?
Why should patents be granted in some industries but not others? If so, how should we encourage research in areas with no patent protection? (Radical)
Distinguish the basis of judgment for the Standard Oil and the ALCOA cases. How relevant to the real world do you believe this result is in the cartel view?
Why is a contestable model or cartel model more likely to judge an industry by performance? Explain your answer.
Give an argument why the merger might decrease competition. Give an argument why the merger might increase competition.
The price cuts were expected to trigger a price war. Based on this information, what market structure best characterizes the market for breakfast cereal?
How are the contestable market model and the cartel model of oligopoly related? If you were the Braniff Airways CEO, would you have gone along?