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What price will Gouge-em charge for its cable services? What are its profits at this price?
Compare and contrast resource allocation under the restricted license system (assume the licenses are tradable) and the free-entry system.
Does economic theory indicate that an ideal regulatory agency that forces a monopolist. What are some of the factors that complicate the regulatory function?
How many boats will Rod sell per week at the profit-maximizing price? What will Rod's profits be per week at this price and sales volume?
What level of output will maximize the firm's profit level? How will the situation change over time? What price will the firm charge?
What is the primary requirement for a market to be competitive? Is competition necessary for markets to work well? Why or why not?
If a firm goes out of business, what happens to the firm's assets, workers, and customers? Are business failures bad for the economy? Why or why not?
What determines whether small firms, medium size firms, or large firms will dominate in a market?
Suppose that a price searcher is currently charging a price that maximizes the firm"s total revenue. Why will this price also maximize the firm's profit?
What determines the variety of styles, designs, and sizes of different products?
Why will the firms be able to make economic profit in the long run? Why or why not? What do competitive price searchers have to do to make economic profit?
What price will maximize the profits of a price searcher? How will the firm"s marginal cost compare with its price at the profit-maximum output?
How many units would the Tucker Tomato Farm produce if the price of tomatoes fell to $450 per ton? What would be the firm's profits?
Why does the short-run market supply curve for a product slope upward to the right? Why does the long-run market supply curve generally slope upward to right?
If the interest rate is 3% and atotal value of $4.370.91 will be paid to you at the end of 3 years, what is the present value of that sum?
What is the present value of the projected revenue stream if money is worth 8% per year?
Discuss the conditions under which a monopoly would be the preferable market structure for productive efficiency.Please include citation and references.
Find the quantity at which diminishing marginal returns set in. If the monopolist's goal is to maximize profits, determine the optimal level of output.
What conditions must be met for buyers to bear the full burden of a tax? What conditions would cause sellers to bear the full burden? Explain.
What is meant by the incidence of a tax? Explain why the statutory and actual incidence of a tax can be different.
How do you think the markets for organ donation and child adoption would be affected if they were made fully legal with a well-functioning price mechanism?
What is a black market? What are some of the main differences in how black markets operate relative to legal markets?
What impact will a meaningful price ceiling have on the quantity exchanged? What impact will a meaningful price floor have on the quantity exchanged? Explain.
What is the difference between a price ceiling and a price floor? What will happen if a price ceiling is imposed below the market equilibrium?
How will a substantial increase in demand for housing affect the wages and employment of carpenters, plumbers, and electricians?