I have a list of 5 questions I need your assistance on. Please include any external citations - other than Wikipedia - please. Just a rough idea on how to proceed would be great.© BrainMass Inc. brainmass.com July 18, 2018, 1:09 am ad1c9bdddf
1. Using the demand and cost curves of an individual firm in oligopoly, demonstrate what effects of each of the following are:
a. the Clean Air Act
Increased costs result from having to implement technology to reduce pollution. This shifts the firm's cost cuves upward, resulting in higher prices to consumers.
b. The Nutrition and Labeling Act
This also causes higher costs during the production process. However, once the new labels are in place, the costs should return to prior levels.
c. A ban on smoking inside the workplace
This will have two effects, one on smokers and one on non-smokers. Smokers are less efficient, as they will be needing to leave their desks to smoke. Non-smokers will be more efficient because they will not be breathing smoke while they are working. The final impact on the cost curve will depend on which effect predominates.
d. A sales tax
A sales tax will increase the cost of the final product to consumers. This causes a decline in the number of units sold. While neither curve will shift, the tax has the same effect on the firm as a backward movement of the demand curve would.
2. Kodak has developed an important brand name through its ...
Discussion of how government regulation affects price and output; the necessity of social regulation; how P2P networking affects the market for intellectual property