Economic - 7557 Words

CHAPTER 24 Pure Monopoly A. Short-Answer, Essays, and Problems 1. What are the major characteristics of pure monopoly? 2. What are the major barriers to entry that explain the existence of monopoly? 3. What is the relationship between economies of scale and a natural monopoly? 4. Some economists argue that pure monopolists will purposely avoid the price-output combination that will maximize their profits. Explain how this less-than-maximum profit behavior could be rational. 5. In what ways, if any, do the demand schedules for a purely competitive firm and a pure monopolist differ? What significance does this have for the price-output behavior of each? 6. Why†¦show more content†¦Explain. (b) What do the data in the table indicate about the elasticity of demand? 11. In the following table are demand and cost data for a pure monopolist. Complete the table by filling in the columns for total revenue, marginal revenue, and marginal cost. Answer these three questions: (a) What output will the monopolist produce? (b) What price will the monopolist charge? (c) What total profit will the monopolist receive at the profit-maximizing level of output? Total Marginal Total Marginal Quantity Price revenue revenue cost cost 0 $34 $______ $ 20 1 32 ______ $______ 36 $______ 2 30 ______ ______ 46 ______ 3 28 ______ ______ 50 ______ 4 26 ______ ______ 54 ______ 5 24 ______ ______ 56 ______ 6 22 ______ ______ 64 ______ 7 20 ______ ______ 80 ______ 8 18 ______ ______ 100 ______ 9 16 ______ ______ 128 ______ 10 14 ______ ______ 160 ______ 12. Why is there aShow MoreRelatedEconomics And Economics On Economics Essay1142 Words   |  5 PagesWhen we talk about economics we must first defined the word. Economics is a social science that studies human behavior and how to allocate our limited (scares) resources, efficiently and effectively to meet our unlimited human wants. Now as we dive deeper in to the field of economics we realized that there are two separate categories that the study of economics breaks off into. The first is macroeconomics, macroeconomics is the study of the whole picture when it comes to economics. Macroeconomics willRead MoreEconomics : Economics And Micro Economics1238 Words   |  5 Pages Economics is the study of how our unlimited demand of certain things can be met by our limited amount of supply. For instance, if there was an unlimited amount of money for everyone, then everyone would have everything they had always wanted and would not have to work to get the money. Everyone would h ave billion dollar homes and the nicest cars in the world. Unfortunately, we do have a limited amount of money, so the economists find ways to get around that. There are two types of economicsRead MoreEconomics : Economics Of Business1361 Words   |  6 PagesHND Accounting Economics FINAL REPORT: The Economics of Business DUE DATE: 20 May 2015 Catherine Macintosh 11006620 For the attention of Sarah Sutherland Word count: 1,243 (Excluding Acknowledgements, Abstract/Executive Summary, Terms of Reference, References Appendices TABLE OF CONTENTS Page 1.0 Costs 3 1.1 Total costs 3 1.2 Average costs Read MoreEconomics1291 Words   |  6 Pageshis profit. Do you agree? Use a graph to illustrate your answer. The argument is incorrect. As the graph shows, a reduction in marginal cost will cause a monopolist to reduce his price. 2. Economist Harvey Leibenstein argued that the loss of economic efficiency in industries that are not perfectly competitive has been understated. He argued that when competition is weak, firms are under less pressure to adopt the best techniques or to hold down their costs. He referred to this effect as x-inefficiencyRead MoreEconomics1444 Words   |  6 Pagesresource is inefficient it means the resources are not used in the best distribution by firms or organizations. An ETS is executed when the environment has been polluted and the government intervenes in order to control the pollution by providing economic encouragements towards the firms and organizations to reduce the amount of pollution emitted in the environment (Brown* 2001). When ETS is implemented it reduces the pollution of the environment caused by different firms thus making it its main goalRead MoreEconomics1654 Words   |  7 Pagesï » ¿1. What is the ‘economic problem’? The fundamental economic problem is related to the issue of scarcity. Scarcity means that resources are limited and short in supply in the world (e.g. diamond). Because of limited resources and unlimited demands, society needs to decide how much to produce and distribute these relatively scarce resources. The basic economic problem can be define as what to produce, how much to produce and for whom to produce. Some countries are lucky to have great naturalRead MoreEconomics999 Words   |  4 PagesManagerial Economics MIDTERM Exam What changes can you envision to the real economy, should Rifkin’s vision of a zero marginal cost society, become reality? For me, Jeremy Rifkin is a great social theorist. I’m mostly agreeing with him, with his conclusions and visions of the future economy. They looks like perfect and definitely it’s a â€Å"think big† way of delivering the information. His book â€Å"The Zero Marginal Cost Society† is must read, of course. Trigger is a zero marginal cost. I’m completelyRead MoreEconomics1000 Words   |  4 Pagesconsumer change, there will be a much greater change in the production output in the capital equipment required to make those consumer goods. This change in the production of capital equipment, that is , investment spending speeds up the rate of economic growth or slump Since we are focused on short-run business-cycle fluctuations here, it is reasonable to ignore changes in K/Y that may be associated with long-run advances in technology. 15 – 10 proportional to the level of output in t, Kt Read MoreEconomics1134 Words   |  5 PagesMF 7701 Managerial Economics Quiz #1 Fall 2014 Instructions: 1. You may work on this quiz alone or with as many other students as you wish. If you work with other students, please submit only one (common) answer. 2. You may not talk about this exam with anyone outside of the two managerial economics sections. 3. You may work with people from the other section if they are taking this course. In all cases, please submit only one, common answer. 4. You must e-mail your finalRead MoreEconomic Growth And Economic Development917 Words   |  4 PagesEconomic growth refers to an increase in the capacity for an economy to produce goods and services as compared from one period of time to another. It can be measured either in nominal terms which include inflation, or in real terms that are adjusted for inflation. It is mainly influenced by unemployment, inflation, technology levels, rate of investment, population growth rate, among other factors. These factors are used further to explain the differences in the varying level of output per capita

History and Legacy of Jazz Music Essay - 1001 Words

In the 1920s, through the streets of New Orleans, a familiar sound could be heard escaping from the walls of the night clubs. The sultry saxophone solos and the strange scatting selections filled the air. The style was new and spontaneous. This new genre incorporated the styles from gospel hymns, blues, and ragtime, yet was completely different in its own way. The sound, with its new techniques that gave it a raw uniqueness, was able to capture Americas curiousness, and make many fall head over heels for the new infectious sound. It drew in people from any age, race, and social status. This new genre was called jazz, and it became so popular that an era was named after it. Jazz is a blend of African American spiritual folk songs and†¦show more content†¦Another factor that makes Jazz music so distinctive is its alternating rhythms. In jazz, the rhythm or beat of the music is often sped up of slowed down at different parts of the piece to increase the mood the musician wishes to display through the song (Matthews). Because jazz was so heavily influenced by ragtime and blues, their styles were brought out during the times the artist wanted to convey different messages. For example, if the song was upbeat and happy, then the ragtime style was used. According to Rose Blue and Corinne J. Naden, ragtime is â€Å"A musical form in which the right hand plays the melody while the left hand makes â€Å"stompy† sounds on the keys.† In Jazz, however, the beats are often off count which differentiates it from Ragtime. If the jazz musician wanted to bring out the sorrow of the song he or she would approach the song with more of the Blues style (Blue and Naden). One jazz song could incorporate both the blues and the ragtime styles, which is what made this genre so unique to other genres that came before it. Rhythms are so important in Jazz because the musician has the ability to change the tempo or mood of the song at any time. Since so many of the songs during the Jazz Age were performed so many times by many different artists, Jazz musicians often reshaped the rhythms during the song to express their own individuality in the song. According to Dr. Marshall Stearns, who was an Associate Professor of English Literature atShow MoreRelatedLouis Armstrong : The Greatest Jazz Artist1087 Words   |  5 PagesLouis â€Å"Satchmo† Armstrong One of the greatest in Jazz music history Louis Armstrong, a man of many talents and skills his occupation ranging from singer, film star, soloist, comedian, bandleader, and most importantly a jazz trumpeter with his thrilling performances; being recognized as one of the greatest jazz artist in history. Louis Armstrong is considered one of the most influential jazz artists capturing the people’s attention with his â€Å"daring trumpet style and vocals†. Developing his skillsRead MoreThe Most Influential Jazz Artists History And Thee Most Important Figure Essay1347 Words   |  6 Pagesone of the most influential jazz artists history and thee most important figure in jazz history. From the 1920’s all the way through the 1960’s, Armstrong had a very illustrious career. Armstrong was a composer, instrumentalist, arranger and a singer. Giving him many ways to have an everlasting legacy in music. He innovated many different styles and excelled in many different eras of jazz. Armstrong made an abundan t of contributions to jazz ranging from new styles of jazz including a new way of singingRead MoreThe Original Dixieland Jazz Band Influence715 Words   |  3 PagesThe Original Dixieland Jazz Band Influence The Original Dixieland Jazz Band, although not the first of many jazz musicians, made a big impact on jazz community by popularizing the culture of jazz throughout the nation. They consisted of five members from New Orleans: Nick LaRocca, leader and cornet; Larry Shields, clarinet; Tony Sbarbaro, drums; Eddie Edwards, trombone; and Henry Ragas (replaced by Russel Robinson), piano. The grouped gained popularity around the 1910s-20s. They gained popularityRead MoreJazz Music: Bebop Essay1151 Words   |  5 Pagesone of the most artistic styles of jazz music. Bebop gradually developed during the 1940’s. Bebop focused more on the freedom of creativity rather than rhythmic aspects. According to The Bop Era, it also gave soloists more room for â€Å"innovative improvisation† (Glass). Through the works of Charlie Parker, Dizzy Gillespie, Thelonious Monk, and other players we will discover how Bebop became such a prominent style during this era. Bebop is a â€Å"genre of American music originated in New Orleans around theRead MoreThe Most Popular Instrument of All Time: The Trumpet Essay892 Words   |  4 PagesThroughout history, music has changed. One instrument has been able to stand the testament of time. Many instruments have had their time, but faded away. The trumpet has survived them all. It is probably the most popular instrument of all time. With talented musicians like Louis Armstrong and Miles Davis, the trumpet has been able to endure. The purpose of this paper is to highlight the careers of Armstrong and Davis, and how the trumpet became their way into Jazz. Louis Armstrong was born onRead MoreEssay about Miles Davis1689 Words   |  7 Pageswas Miles Davis’ breakthrough year. His performance of amp;quot;round midnightamp;quot; at the Newport Jazz Festival alerted the critics that he was amp;quot;backamp;quot;. Davis form a quintet which included Red Garland, Paul Chambers, Philly Joe Jones, and John Coletrain. In 1957 Davis made the first of many solo recordings with the unusual jazz orchestrations of Gil Evans, and he wrote music for film by Louis Malle. In 1963Davis formed a new quintet including the talents of Herbie Hancock, RonRead MoreComparative Analysis : The Great Miles Davis1549 Words   |  7 PagesComparative Analysis Throughout Jazz history there has never been an artist that it has changed the sound of jazz several times. He challenged himself and encouraged others to go on diverse paths to create sounds and rhythmic patterns. This distinct musical innovator that influenced jazz beyond its limits is the great Miles Davis. Davis was born on May 25, 1926, in Alton, Illinois. But, he grew up in East St. Louis, Illinois. His father was dental surgeon, therefore they never had any financialRead MoreMost Influential Jazz Singer, Billie Holiday693 Words   |  3 PagesAmerican cultural movement specifically in creative arts such as music and literature. Jazz represented the flavor and zest of African American culture in the 1920s-1940s. Billie Holiday had a great impact on the Harlem Renaissance because she was one of the most influential jazz singers of all time. She performed with other great jazz musicians such as Louis Armstrong, Teddy Wilson, Jo Jones, and Henry Allen. Her career as a jazz singer was an incredible and thriving one, however, it was shortenedRead MoreDuke Ellington Essay1260 Words   |  6 PagesDuke Ellington Duke Ellingtons pre-eminence in jazz is not only because of the very high aesthetic standard of his output and not simply due to his remarkable abilities as a pianist, composer and bandleader, but also to the fact that he has extended the boundaries of jazz more than any other musician, without abandoning the true essence of the music. Perhaps no other American musician left such a massive and challenging legacy in composition and performance. Edward Kennedy Duke EllingtonRead MoreMusic Is Exceptionally Powerful And Meaningful To People1353 Words   |  6 PagesMusic is exceptionally powerful and meaningful to people worldwide as it serves as an expression of emotion. Authors of various literary works integrate music into their stories. In Baldwin s short story, Sonny s Blues, jazz music is an important part of the story that explores the life of one of the main characters, Sonny. During the time this short story was written, Charlie Parker, an influential jazz musician that is briefly acknowledged in the story, had an immense following. Charlie Parker

The Freedom Riders A Powerful And Inspiring Documentary...

The â€Å"Freedom Riders† was a powerful and inspiring documentary on the six months of 1961 that altered America’s history. More than four hundred African Americans and whites put their lives in danger, bearing mob beatings and incarceration, as they travelled through the Deep South in numerous buses from May until November of 1961. As the freedom riders knowingly violated Jim Crow laws, they were confronted with cruel racism and violence which painfully pushed against their mindset of nonviolent activism. Their strong, passive attitude informed me that the correct method of communicating our opinions is always without violence. This enables our voice to be heard clearly without it being overshadowed by the disturbances of violence. The destruction and the uproar only cause the opposite party to be deaf to our beliefs. There were two Supreme Court decisions that desegregated all interstate travel facilities. But African Americans still faced much bitterness and racism when they travelled through the south. It disheartened me to see the injustice that colored people had to face when the law clearly called for their equality. They were suppressed on the basis of continuing culture for the sake of the few southern, conservative white Americans. The Kennedy administration was too distracted by the Cold War and the possibilities of international nuclear threat to discuss the civil rights issues that arose within their borders. It appeared as if the civil rights leaders had to take

Executive Mobile Computing Samples for Students †MyAssignmenthelp.com

Question: Discuss about the Executive Mobile Computing. Answer: Introduction Victoriapool is basically an android application in which it has been developed in order to improvise on the aspect of the transport system of the individuals who are travelling to the Victoria University as well as the university which are nearby the University of the Sydney CBD (Conti and Giordano, 2014). In regards to this application it has been majorly been designed in order to compile on the details of the individuals who have been living in the similar location as well as tracking of the individuals who may not travel with them to the destination which they may desire (UGIC, 2017). The main aspect functionality of this application is mainly to connect individuals who are travelling to the same destination. The main interface which have been incorporated in the development of this application is the HTML, as well as the JavaScript (UWA, 2016). This application uses the element regarded as the carpooling which there is sharing of the expenses between the users hence lowering on the cost of travelling expenses. Status of the document In this strategy document it is the initial one, the changes will need to be made in the future. It purpose is for the consultation purposes. The scope of the strategy This application intends to improvise on the transport system so that it become cheaper for individual to travel to the Victoria University as well as the nearby Universities. The overall aim of the strategy This application intends to solve on the issue of transport system, whereby it would become cheap to travel within the Victoria University and other University within the CBD. Timescale for the strategy The development of making this strategy it would take a period of one year until its full development and all the necessary logistics have been implemented. After that to full address of this strategy it would take three years. Constraints of the strategy Just like any other application it would encounter some constraints especially on the aspect of the network. It would need to be coordinated with the other regional network to enable it to be operational. Development process The individual who is leading on the development of this strategy is the network manager, of my team in which I was assigned. Other individuals involved are the programmer who would code using HTML and the JavaScript. To date the thing undertaken has been the initial outlay of what the application would look it and the provision of the data flow diagram representing the flow of the logic in the application (Bresnahan and Greenstein, 2014). The service users have also been involved in that at the stage of development we consulted on the type of services they offer so that the application will be inclined to their services. Stakeholders analysis The stakeholders have been identified based on the target market. There are two target market for this application; the VU students and the VU Faculties. On the VU students, there are friends of friends, and other universities friends close to the Sydney CBD stakeholders. On the VU faculties there are other university which are close to the Sydney CBD. These individuals are involved in how contributing on some of the issue affecting them and how they could be addressed through the use of the application (UGIC, 2017). Each of the good has perceived that the application will help them through increase of the social community, reduction of travel cost and improves on the stress on driving for the long distance. References Bresnahan, T. and Greenstein, S., 2014. Mobile computing: The next platform rivalry. The American Economic Review, 104(5), pp.475-480. Conti, M. and Giordano, S., 2014. Mobile ad hoc networking: milestones, challenges, and new research directions. IEEE Communications Magazine, 52(1), pp.85-96. UGIC, 2017. UGIC Uath Geographic Information Council. [Online] Available at: https://ugic.org/conference/carpool-to-ugic-2017-in-park-city/[Accessed 13 august 2017]. UWA, 2016. The University Of Western Australia. [Online] Available at: https://www.transport.uwa.edu.au [Accessed 16 august 2017].