Monopolistic Competition custom essay

Explore how firms in monopolistic competition differentiate their products or services to generate a market niche and gain more control over their pricing.
To what extent can product differentiation create barriers to entry?
How can product differentiation help firms to increase their short-run profits?
Give an example of a firm in monopolistic competition, and discuss the strategies used by the firm to differentiate itself and perhaps earn economic profits in the short run.

Make sure to ask your peers engaging questions and extend the conversation. Give specific real-world examples in your post.

Future of the World Economy custom essay

In light of everything you’ve learned in this course, what is your informed–and cautious–prediction regarding the future of the global economy?
1) – For instance, will the US be able to continue to act as the ultimate guarantor of global free trade and openness?
2) – What will be the consequence of the global debt crisis?
3) – Will the never-ending growth model of our current capitalist system clash with the impending threat of climate change?

Economics custom essay

An economist who is studying the relationship between the money supply, interest rates, and the rate of inflation is engaged in


2) A basic difference between microeconomics and macroeconomics is that microeconomics


3) The distinction between supply and the quantity supplied is best made by saying that


4) After several years of slow economic growth, world demand for petroleum began to rise rapidly in the 1990s. Much of the increase in demand was met by additional supplies from sources outside the Organization of Petroleum Exporting Countries (OPEC). OPEC, during this time, was unable to restrain output among members in its effort to lift oil prices. What best describes these events?


5) Price elasticity of demand is the


6) If average movie ticket prices rise by about 5 percent and attendance falls by about 2 percent, other things being equal, the elasticity of demand for movie tickets is about

7) When labor is the variable input, the average product equals the


8) The increase in output obtained by hiring an additional worker is known as


9) Which of the following is the best example of a long-run decision?


10) Other things being equal, when average productivity falls,


11) According to economist Colin Camerer of the California Institute of Technology, many New York taxi drivers decide when to finish work by setting an income goal for themselves. If this is true, then on busy days when the effective hourly wage is higher, taxi drivers will



12) A firm’s demand for labor is derived from the


13) Owen runs a delivery business and currently employs three drivers. He owns three vans that employees use to make deliveries, but he is considering hiring a fourth driver. If he hires a fourth driver, he can schedule breaks and lunch hours so all three vans are in constant use, allowing him to increase deliveries per day from 60 to 75. This will cost an additional $75 per day to hire the fourth driver. The marginal cost per delivery of increasing output beyond 60 deliveries per day.


14) Expected economic profit per unit is equal to


15) If a firm in a perfectly competitive market experiences a technological breakthrough,


16) A significant difference between monopoly and perfect competition is that



17) A monopoly firm is different from a competitive firm in that



18) The difference between a perfectly competitive firm and a monopolistically competitive firm is that a monopolistically competitive firm faces a


19) As long as marginal cost is below marginal revenue, a perfectly competitive firm should


20) Because a monopolistic competitor has some monopoly power, advertising to increase that monopoly power makes sense as long as the marginal


21) In the Flint Hills area of Kansas, proposals to build wind turbines to generate electricity have pitted environmentalist against environmentalist. Members of the Kansas Sierra Club support the turbines as a way to reduce fossil fuel usage, while local chapters of the Nature Conservancy say they will befoul the landscape. The Sierra Club argues that wind turbines


22) When negative externalities are present, market failure often occurs because


23) A merger between a textile mill and a clothing manufacturing company would be considered a


24) A merger between a baby food company and a life insurance company would be considered a


25) From the point of view of consumer and producer surplus, what problem may be created when a country subsidizes the cost of energy to consumers to help alleviate the burden of higher energy costs?


26) Suppose people freely choose to spend 40 percent of their income on health care, but the government decides to tax 40 percent of a person’s income to provide the same level of coverage as before. What can be said about deadweight loss in each case?

purchased remains the same.

27) The U.S. textile industry is relatively small because the US imports most of its clothing. A clear result of the importation of clothing is


28) Countries can expect to gain from international trade as long as they


29) Which of the following is an example of the law of one price?


30) The fact those U.S. managers’ salaries are substantially greater than those of comparable managers in Japan may be related to

Economic integration. custom essay

Select a country that you are interested in, a place that reflects your ancestry, a place you have visited or plan on visiting in the future, or a place that could be your “dream” country to work in some day.
3.1. Discuss how the cultural aspects affect business conditions in the specific country
3.2. Discuss the level of institutional infrastructure:
3.2.1. Financial environment for business – Summarize relevant aspects, including banking system and relevant laws, for foreign corporations
3.2.2. Physical infrastructure important for business – Summarize relevant aspects, including transportation, power, and communication (e.g., internet, cellular) infrastructure
3.2.3. Considering institutional infrastructure, which may have the greatest influence on a company considering business in this country?

4.1. Describe the extent of economic integration, specifically mentioning the country’s membership(s) within regional trade agreements and the benefits they bring to the country.
4.2. Explain the best ways to do business in this country, making a recommendation for an MNC that is considering this country by evaluating these three options: exports/imports, green field investment, or not entering at all.
4.3. In summary, for a multinational corporation considering business in this country:
4.3.1. What are the country-specific special considerations for an MN?
4.3.2. Would you recommend that an MNC enter this market?