Categories
Economics

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**In this assignment, you will demonstrate your understanding of how supply and demand differ between monopolies and perfectly competitive markets and how these two markets determine the quantity supplied and market prices. You will also provide explanations of how the price effect and the quantity effect cause marginal revenue to be different from the price. Finally, you will demonstrate your understanding of the impact of different government price regulations on monopolies.
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**Insert your answers in the appropriate space provided for the question. Your answers should:
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**follow the current APA format with citations to your sources,
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**include a list of references at the bottom of your last page,
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**be in Standard English with correct spelling, punctuation, grammar, and style,
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* be double-spaced,
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** be formatted in Times New Roman,12-point, black font, and
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** respond to questions in a thorough manner, providing specific examples of concepts, topics, definitions, and other elements asked for in the questions.
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Categories
Economics

< ** be formatted in times new roman,12-point, black font, and

**Please note that this unit’s discussion board question is about NATURAL monopolies. They are a bit different from MARKET monopolies and it’s important that you make it clear that you understand the difference.
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**Also, be sure to cite your material and list at least one reference, per APA formatting guidelines. Here is a sample citation (Krugman & Wells, 2021, p. 265). The reference for our textbook is Krugman, P., & Wells, R. (2021). Microeconomics (6th ed.). Macmillan Learning.
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Your answers should:
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** follow the current APA format with citations to your sources,
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** include a list of references at the bottom of your last page,
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**be in Standard English with correct spelling, punctuation, grammar, and style,
<
**be double-spaced,
<
** be formatted in Times New Roman,12-point, black font, and
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** respond to questions in a thorough manner, providing specific examples of concepts, topics, definitions, and other elements asked for in the questions.
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Categories
Economics

* be double-spaced,

*Examine how changes in the cost of production affect the pricing and production quantity decisions of a firm in a perfectly competitive market.

*Apply critical thinking to use principles of sound reasoning.

Insert your answers in the appropriate space provided for the question. Your answers should:

*follow the current APA format with citations to your sources,

* include a list of references at the bottom of your last page,

* be in Standard English with correct spelling, punctuation, grammar, and style,

* be double-spaced,

*be formatted in Times New Roman,12-point, black font, and

* respond to questions in a thorough manner, providing specific examples of concepts, topics, definitions, and other elements asked for in the questions.

The book we are using is Krugman, P. & Wells, R. (2021). Microeconomics (6th ed.). Macmillan Learning.

Categories
Economics

<be sure to write in your own words.

to develop a 2–3 page paper on Economic Principles – Microeconomics in which you:
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Choose an industry that interests you. (Remember, an industry is not a company. An industry is a group of companies doing the same thing. Ford is a company. Automobile manufacturing is an industry.)
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Do research on your industry. In a few short paragraphs, describe your selected industry:
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Be sure to write in your own words.
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Identify some of the major companies in this industry.
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Identify the goods, and/or services this industry produces.
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Add anything else about the industry that you think is interesting.
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Keep track of your sources by copying their Internet addresses (URLs). You can paste these URLs at the end of your paper as your references.
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Describe a microeconomic variable for your industry. Microeconomic variables include prices, sales, production, advertising, investment, and so on.
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Include a graph, chart, or table showing this microeconomic variable over time.
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You do not need to create this graph, chart, or table. Find one that has already been created and paste it into your paper. For example, if your industry is U.S. automobile manufacturing, Google, “U.S. automobile manufacturing over time.” Select the “images” option. Choose one of the graphs, charts, or tables. Then copy and paste it into your paper.
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Include a reference to the source of the graph, chart, or table. Microeconomic relationships and market outcomes are covered in Weeks 2–4.
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Describe one way the government might impact this industry. Examples might include price controls, regulations, taxes, or any other way you can think of.
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Government intervention through price controls, regulations, taxes, and antitrust enforcement were covered in Weeks 2 and 4.
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Categories
Economics

Why is it important that prices are flexible in our economy?

Why is it important that prices are flexible in our economy? Do you think the government should control the level of prices for products that are really important, ie. gasoline?

Categories
Economics

Write an essay describing the differences between socialism, communism, and free

Write an essay describing the differences between socialism, communism, and free market economies? What are the disadvantages and advantages of each?
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minimum of 800 words.