QUESTION 8Which one of the following statements on nationalisation and privatization is correct?Nationalisation is the transfer of ownership from public sector to the private sector.Privatisation is the transfer of ownership from private enterprise togovernment.One of the arguments in favour of privatisation is that the privatised firm may attract foreign direct investment.O Commercialization is the same as privatisation

Answered: QUESTION 8 Which one of the following…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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13 Why do monopolies lack productive efficiency? A Because barriers to entry eliminate competition BO Because they are unable to achieve economies of scale Because investments in innovation are costly DO Because they produce at the bottom of the average cost curve
2. As a consumer of the products or services provided by these Big Tech companies, are YOU helping fellow consumers with fair business practices or supporting Big Tech firms grow in market power? Do explain
Which legal school of thought is illustrated in this dialogue? DONUT DAY AT THE OFFICE Part 4 Lee: Right. Inflexible rules, applied the same way every time and in every situation, are just a sign of corporate insanity. This is a company that knows how to adapt and make smart decisions based on the circumstances at hand. Remember when we found out that Allied Chemical hair gel accelerated hair growth at twice the industry standard . . . just before the hair would fall out? Remember what happened to Winfred after he tested out the stuff for us? Remember how happy Allied Chemical was with us when we figured how to market their goop anyway? The rules are made to help us, the best of the best, get what we want. We are the "enlightened" of the break room, and the rules are meant to help US get what WE want. End Part 4 Irrational forces perspective. Sociological school of thought. Legal realism school of thought. Critical Legal Studies school of thought.
5. Indicate whether each of the following statements is true or false, and explain your answer.A. If a monoplist is producing a level of output at which demand is inelastic, the firm is not maximizing profits and increasing output will decrease total revenu.B. When a monopolist maximizes profits, the price is greater than the marginal cost of producing the output. This means that consumers are willing to pay more for additional units of the product than these additional units of the produce. Thus, the monopolist should produce and sell addional units of output.C.A monopolistically competitive firm produces a level of output at which price equals $80, marginal revenue equals $40, average total cost equals $100, marginal cost equals $40 , and average fixed cost equals $10. To maximize profit, the firm should produce a smaller output and sell it at a higher price.D. In a monopolistically competitive market, a firm has market power because it produces a differentiated product. This means…
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answer this one 3. Now, suppose that in addition to the home country opening up to free trade, the foreign country has alsoopened up to free trade. As a result, both firms sell their product in both markets.A) Find each firms’ overall output, market price in each market, and each firms’ overall profitB) Explain what effect free trade has (relative to no trade) on the firms and consumers Suppose a firm operates as a monopoly in the domestic (home) market for a product. The demand for itsproduct is given by the inverse demand function: P = 120 −QD. The company’s costs are: T C = 20Q+ 200and MC = $20.A) Find the firm’s profit-maximizing output and price as a monopoly.B) Find the firm’s total profit in the monopoly market.Suppose the home country open up to free trade…
13. What is the economic argument that monopolies are most often less efficient than highly (say, perfectly) competitive producers? for managerial economics class
15. All the following statements regarding the holding of the WTO dispute settlement body in United States - Measures Affecting Cross-Border Supply of Gambling and Betting Services are true exceptA. The dispute settlement body authorized Antigua to retaliate against the United States by violating the intellectual property rights of U.S. companiesB. The United States refused to comply with the dispute settlement bodys opinionC. Antigua claimed that the U.S. restriction on cross-border trade in on-line gambling and betting services violated the commitment to normal trade relations contained within GATSD. Antigua claimed that the U.S. restriction on cross-border trade in on-line gambling and betting services violated the commitment to national treatment contained within GATS

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