If Ellison listens to music on a streaming platform this is ______ in consumption because other people ______ able to consume that music on the streaming platform at the same time. A. rival; are not B. nonrival; are C. Rival; are D. nonrival; are not
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If Ellison listens to music on a streaming platform this is ______ in consumption because other people ______ able to consume that music on the streaming platform at the same time.
A. rival; are not
B. nonrival; are
C. Rival; are
D. nonrival; are not
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- Which of the following goods would be considered “non-rival”? Select one: a. parking places b. pizza c. computers d. streetlights#4. If network externalities exist in an industry, the ________ firm to enter the market is often the one that succeeds in dominating the industry. a. first b. second c. third d. fourth e. fifthINTERNATIONAL TRADE The president of a remote island nation has closed the borders of this country to international trade because of the COVID-19 pandemic. Prices of goods and services in this country will be governed by what principle? A. Autarky. B. Oligopoly. C. Autonopoly. D. Bertrand collusion equilibrium. Explain your answer in up to 200 words and using a diagram
- The president of a remote island nation has closed the borders of this country to international trade because of the COVID-19 pandemic. Prices of goods and services in this country will be governed by what principle? A. Autarky. B. Oligopoly. C. Autonopoly. D. Bertrand collusion equilibrium.9. Do you agree or disagree with the following statements a. The demand eurve facing a monopolistic competitor in a market where all producers charge different prices becomes less elastic when it engages in international trade b. According to the gravity equation, countries closer to each other trade more c. The only gain from trade in monopolistic competition in trade is lower prices d. The closer to 1 the index of intra industry trade is, the greater the difference between exports and imports of the same goods.Quantity (in gallons) Total Price Revenue $8 $0 50 7 350 100 600 150 750 200 4 800 250 3 750 300 600 350 1 350 400 Imagine a small town in a remote area where only two residents, Maria and Miguel, own dairies that produce milk. Their respective dairies are equal in size. Each week Maria and Miguel work together to decide how many gallons of milk to produce and what price to charge. To keep things simple, suppose that Maria and Miguel can produce as much milk as they want without cost so that the marginal cost is zero and there are no fixed costs. The weekly town demand schedule and total revenue schedule for milk is shown in the table above. Suppose the town enacts new antitrust laws that prohibit Maria and Miguel from operating as a cartel. Assuming that each producer can only modify quantity in increments of 50, which of the following is consistent with the Nash equilibrium for this scenario? Maria will charge a price of $5 for each gallon. Miguel will sell 100 gallons. Milk will…
- What are the typical orientation of the markets and audiences for new online media producers?17. Which of the following best describes the idea of 'network effects'? (a) Network effects are a form of increasing returns to scale. (b) Network effects occur whenever high fixed costs lead to falling average costs. (c) Network effects are the way that large monopolies can control market price. (d) Network effects describe how capacity is limited by the size of the network.7. Graphically depict how variable ticket pricing leads to sports teams charging different prices for different games? Explain and clearly label your graph.
- Which statement is NOT a feature of markets for network goods? A. Standard wars are common in establishing network goods. B. Network goods are usually sold by monopolies or oligopolies. C. When networks are important, the “best” product may not always win. D. Competition in the market for network goods is “in the market” instead of “for the market."Ilia is driving home from work. She needs to buy gas and notices an Exxon-Mobil station on one side of the street and a Shell station on the other side of the street. Although run by different companies, the two stations sell gasoline at the same price. a. The most likely reason that the price is the same is that _gas stations always make a profit, so they can charge any price they want. _drivers need gas and are willing to pay whatever price a gas station charges. _government regulation requires both gas stations to charge the same price. _consumers view gasoline from different gas stations as perfect substitutes. b. If one station increases its price, _it will be fined by the government. _it will sell more gasoline. _it will make a higher profit. _it will lose customers to the cheaper station across the street.2. The market for dark chocolate us characterized by Cournot duopolists - Honeydukes and Wonka industries. The market demand for dark chocolate is:P = 8 - 0.005Qdwhere P is the price per bar in dollars and Qd is dark chocolate's daily quantity demanded in bars (use qh to represent the quantity of dark chocolate sold by Honeydukes and qw to represent the quantity of dark chocolate sold by Wonka Industries). Honeydukes has a constant marginal cost of $2.50 per bar, while Wonka Industries has a constant marginal cost of $3.00 per bar. The firms move simultaneously in choosing their profit-maximizing quantity of output.a. Given the firms move simultaneously, what is the equation for Honeydukes' reaction function with qh expressed as a function of qw?b. Given the firms move simultaneously, what is the equation for Wonka's reaction function with qw expressed as a function of qh?c. What quantity of dark chocolate will each firm produce in equilibrium and what price will be established for a…
