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The market in the media economy is the aggregate of many
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- Keep in mind the case study of Uber taxi industry. Analyze the competitive structure of the taxi market, as it existed in a representative major metropolitan market such as New York prior to the introduction of Uber? Where does economic power in the industry reside?Based on the herfinfahl index of the market for sunglasses, the FTC would _______ a merger between UV shield and sun fashion.The Jakarta Post - Coordinating Maritime Affairs Minister Luhut Pandjaitan said he wants to push for the emergence of a new player in the jet fuel or avtur business in an effort to lower airfares. The market is currently dominated by state-owned energy company Pertamina. Previously, President Joko Widodo criticized Pertamina for “monopolizing” the avtur business that was blamed for the high price of the commodity. “Because of a monopolistic market, the price isn’t competitive. Many want to sell avtur, and it will lead to lower prices and encourage efficiency.” Jokowi said. Do you agree with the statements? ? Use a relevant graph to help explain your answer. (Hint: Use graphical analysis to compare the condition under perfect competition and monopoly markets in your answer)
- Q1-Select the true or false for the following statement also give the explanation and support your answer with graphical presentation where necessary. Explanation is compulsory 3 to 6 line. The key difference between a competitive firm and a monopoly is the ability to influence the price.Question content area Part 1 Suppose a monopoly's price elasticity of demand equals −5 and the marginal cost of production equals $120.00. What is the firm's profit-maximizing price? Part 2 The profit-maximizing LOADING... price is $enter your response here. (Enter a numeric response using a real number rounded to two decimal places.)Question 24 Monopoly is characterized by unique products. market entry and exit are difficult or impossible. non-price competition not necessary. All of these
- Question 22: Firms are created and exist once they enter into the market as a _____ of a good or service. A consumer B provider C regulatorQuestion 23 The deadweight loss that arises from a monopoly is a consequence of the fact that the monopoly Group of answer choices quantity is lower than the socially-optimal quantity. price equals marginal revenue. price is the same as average revenue. earns positive profits.1.) GM’s Food Shops has completed a study of weekly demand for its “new-fashioned” tacos in 53 regional markets. The study revealed that where Q is the number of tacos sold per store per week, A is the level of local advertising expenditure, Pop denotes the local population (in thousands), and Pr is the average taco price of local competitors. For the typical GM’s outlet, P = P1.50, A = P1,000, Pop = 40, and Pr = P1. Q = 400 - 1,200P + 0.8A + 55Pop + 800Pr Estimate the weekly sales for the typical GM’s outlet. Determine the equilibrium price and equilibrium quantity, if supply is Qs = 700 + 1,200P considering the general demand function of GM’s outlet Should GM raise its taco prices? Why or why not?
- Which of the following is most likely a monopolistically competitive market? Question 15 options: Airlines Electric company Restaurants All of the above are equally likely to be monopolistic competitioBlue Skies Aviation is a manufacturer of small single-engine airplanes. The company is relatively small and prides itself on being the only manufacturer of customized airplanes. The company’s high standard of quality is attributed to its refusal to purchase engines from outside vendors, and it preserves its competitive advantage by refusing to sell engines to competitors. To achieve maximum efficiencies, the company has organized itself into two divisions: a division that manufactures engines and a division that manufactures airplane bodies and assembles airplanes. Consultants have estimated that: Demand for Blue Skies’ customized planes is given by P = 900,000 − 2,000Q. The cost of producing engines is Ce(Qe) = 4,000Qe2, and the cost of assembling airplanes is Ca(Q) = 24,000Q. 1. What problems would occur if the managers of each division were given incentives to maximize each division’s profit separately? (multiple choice) Lower profits due to randomized pricing Lower profits due to…Please answer 2 and 3. 2. What might happen if a car dealership is awarded a bonus by the manufacturer for selling a certain number of its cars monthly, but the dealership is just short of that quota near the end of the month? Group of answer choices a. Potential buyers will lose buying power at the dealer b. It may sell the remaining cars at huge discounts to hit the quota c. It creates an incentive to sell cars from different manufacturers d. It would ruin the relationship between dealer and manufacturer 3. If Jackie wanted to determine whether to produce more product in her company, she would do so if Group of answer choices a. Marginal revenue exceeded average cost b. Marginal cost was greater than marginal revenue c. Average cost exceeded marginal cost d. Marginal revenue was greater than marginal cost Thank you!.
