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    Monopolies

    Elastic and Inelastic demand

    1. A regulated transportation monopoly is losing money. The Monopoly goes to its government regulators with a request to raise their rates (price). An economist on the regulatory commission says that raising rates will bring in less revenue as customers change to substitute forms of transportation. The Monopoly and the economi

    Consider the following monopoly that produces paperback books

    Please see the attached file. Consider the following monopoly that produces paperback books: Fixed Costs = $1,000 Marginal Costs = $1 (and is constant) A) Draw the average total cost curve and the marginal cost curve on the same graph. B) Assume that all households have the same demand schedule, given by the following rela

    Entry into Monopoly

    Suppose a company LCD has been operating under a monopoly with large profits for many years. Another company BC (with no quality or cost advantage) plans to enter the market. Assuming that the countries can talk to each other and know each other's moves; What would the pricing outcome be? What would happen to LCD's profits a

    Violations of the Sherman Act and the Clayton Act

    Why might a firm charged with violating the Clayton Act, Section 7, try arguing that the products sold by the merged firms are in separate markets? Why might a firm charged with violating Section 2 of the Sherman Act try convincing the court that none of its behavior in achieving and maintaining its monopoly was illegal?

    Economics for Business

    I need help answering the following true/false question with an explanation and example in simple terms. Your help is GREATLY appreciated! Q: Price is a poor way of rationing important scarce resources such as gasoline, housing or food.

    Economics in a Global Environment

    Details: The Microsoft antitrust trial (United States vs. Microsoft) has been one of the biggest investigations of antitrust behavior since the turn of the century. You are supporting the Government, research and present a cohesive argument to the other side. Keep in mind that this is an economics course, and we are not practi

    Microsoft antitrust trial

    Details: The Microsoft antitrust trial (United States vs. Microsoft) has been one of the biggest investigations of antitrust behavior since the turn of the century. You are supporting the Government, research and present a cohesive argument to the other side. Keep in mind that this is an economics course, and we are not practic

    Monopoly Demand Elasticity

    In a monopoly with a Marginal Cost of $10 per unit, zero fixed costs, an inverse demand function of P=50-Q, what is the demand elasticity of a unit at the monopoly price and quantity. Either it is -1.5, -2, -2.5 or 2. Please show the steps to solve.

    Profit Maximizing Price in Monopoly

    In a monopoly with a 50-50 chance of a demand curve of P=20-Q or P=40-Q and MC=Q, what is the profit maximizing price. Please show the steps to find either $5, 10, 15, or 20.

    Profit Maximization for Perfect Competition and Monopolies

    1. In a competitive market at a price of $50 and cost function of C=50+5Q2 what is the maximum profit? Show how the solution was reached. 2. In a competitive market at a price of $60 and cost function of C=50+3Q2 what is the maximum profit? Show how the solution was reached. 3. In a competitive market with a price of $1

    Monopolies and Oligopolies

    What are some similarities and differences between monopolies and oligopolies? How would you classify Microsoft? How would you classify the power industry in your area? Explain your reasoning.

    The nature of monopoly concepts

    Indicate whether each of the following statements is true or false, and explain why. A. The Justice Department generally concerns itself with significant or flagrant offences under the Sherman Act, as well as with mergers for monopoly covered by section 7 of the Clayton Act. B. When a signal seller is confronted in a marke

    Monopolies for Price Discrimination

    What is an example of price discrimination within the aviation community that could very well be considered illegal? In your opinion, should lobbying be legal or illegal?

    Monopolies Effects on Capitalistic Economy

    What effects do monopolies have on a capitalistic economy? What are some advantages and disadvantages of monopolies? Give some examples of monopoly type companies? What are some key barriers to entry and exit for monopolies and oligopolies?

    market manipulation

    How can suppliers manipulate markets to generate profits? What would be a good example of this?

    Pure competition, pure monopoly, monopolistic competition, and oligopoly

    Briefly state the basic characteristics of pure competition, pure monopoly, monopolistic competition, and oligopoly. Under which of these market classifications does each of the following most accurately fit? (a) a supermarket in your hometown; (b) the steel industry; (c) a Kansas wheat farm; (d) the commercial bank in which you

    Monopoly Market Structure

    The water company is privately owned and is the only water company in town. It is licensed and franchised by the city for a 10 - year term, just renewed. They advertise on TV, enclose a newsletter with their bills, and donate to local school activities. Why do they do these things?

    Monopoly Profits & Consumer Surplus

    A U.S. pharmaceutical company holds a patent on a drug in the U.S. and an analogous patent in Canada. Its marketing department has identified the following inverse demand curves for this drug in the U.S. and Canada: P us =1,000 - Qdus and P can =500 - Qdcan The marginal revenues for each market i

    Sherman and Clayton Act

    Briefly summarize the main tenets of the Sherman Act of 1980 and the Clayton Act of 1914. Do these acts really promote greater competition? Why or why not?

    Lerner-Index, Price Elasticity, & Profit

    1) If the demand function is P = 10 - Q, the marginal cost is constant at 4 and the total cost function is 4Q, what is the profit maximizing monopoly output and profit? What is the price elasticity at the monopoly price and output? 2) What is the Lerner-Index of Market Power for this monopoly at this price and output? 3) W

    Monopolistic competitor

    When will a monopolistic competitor go out of business? Also, how can monopolistic competitors maintain high prices?

    Economic Output and Production

    The marginal cost of producing coal for a company is MC = 5Q, while the marginal cost of pollution is MC = 3Q. The demand for coal is given by Q = 25  .25P. The firm's total revenue is price time's quantity (or units of output), and total profit (or loss) equal total revenue less total cost. Based on that information, an

    Perfectly Competitive, Monopoly

    4. If the market is perfectly competitive, what does profit equal? 5. If the market is a monopoly market, what does profit equal? 6. Redraw the figure and label consumers' surplus when the market is perfectly competitive and when it is monopolized.

    Applying concepts of managerial economics.

    I need help understanding and applying concepts of managerial economics. 1. The manager of American Box Company conducts a study and notes his 10 workers produce approximately 2,000 boxes per week. He assumes that if he can employ 20 workers, the number of boxes will increase to 4,000 per week, and if he can employ 30 worker