As a consumer, what are the advantages and disadvantages of each of these industry structures? Answer

  1. As a consumer, what are the advantages and disadvantages of each of these industry structures? Answer
  2. Pure Monopoly
  3. Monopolistic competition
  4. Oligopoly
  5. To an economy, what are the advantages and disadvantages of each of these industry structures?
  6. Do private and social interests coincide under these industry structures?
  7. Give examples to support your reasoning.
  8. What factors could cause the monopolies to end?
  9. Is there a difference between Research and development can cause the monopoly to end and there is no difference.

 

 

ECON-545- Business Economics_Course Week 8 Final Exam_Answer_Set3_Last Question

ECON-545- Business Economics_Course Week 8 Final Exam_Answer_Set3_Last Question

 

  1. A software producer has fixed cost of 20,000 per month and her total variable costs TVC as a function fo output Q are given below. Complete the table (TC, MC, TR, and MR)

Q TVC Price

2,000 5,000 25

4,000 7,000 22

6,000 18,000 20

8,000 33,000 10

10,000 50,000 1

  1. If software can only be produced in the quantities above, what should be the production level if the producer operates in a monopolistic cometitive market whre the price of software at each possible quantity is also listed above? Why? (show work)

 

  1. What should be the production level if fixed cost rose to 70,000 per month? Explain