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Advertsing is tasteless, offensive, and a nuisance that wastes resources. Give three arguments against this idea.
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- Write an essay and provide a detailed examination of each of the forms of price discrimination.Justify if each of the following statements is TRUE or FALSE. If the statement is TRUE, just write “True”. If the statement is FALSE, explain why it is wrong. a) Pos Malaysia is the sole firm which provides courier services in Malaysia. It is considered a monopolist in Malaysia. b) Sarawak Energy is the sole supplier of electricity transmission and distribution in Sarawak. It is a monopolist in Sarawak. c) Shell Out is a seafood restaurant with many outlets in Selangor and Kuala Lumpur. It is doing business in the perfectly competitive market.Give examples of tactics practiced by a buyer or seller that might be consideredunethical.
- Monopolistic competition creates inefficiency because of the Price markups and excess capacity. The graph depicts the situation $100 for a hypothetical monopolistically competitive firm. The 90 curves included in the graph are demand (D), marginal 80 revenue (MR), average total cost (ATC), and marginal cost ATC (MC). Use the graph to find the requested values. 70 60 What is the size of the markup on the price? 50 40 markup: $ 30 What is the size of the excess capacity? 20 MC MR 10 units excess capacity: 20 30 40 50 60 70 80 90 10 100 QuantityHow does the monopoly determine the level of output that maximizes profit? Group of answer choices By determining where marginal revenue is equal to marginal cost. A monopoly does not need to calculate where maximum profit occurs because they have no competition and can set any price they want for their product. By determining where total revenue equals marginal cost. By multiplying price by marginal cost.This monopolist will charge a price (of)
- In advertising, a business is not only making consumers aware of the existence of the product and its positive features but is purposely trying to persuade consumers to purchase the product. As a piece of economics which of the following best characterises what advertisers are trying to do? (a) Shift the demand curve to the right and make it more income elastic; (b) Shift the demand curve to the right and make it less income elastic; (c) Shift the demand curve to the right and make it less price elastic; (d) Shift the demand curve to the right and make it more price elastic.Advertising is often described as wasteful and useless for consumer. Focusing on what you learned about asymmetric information and price dispersion, is there an economic rationale for advertising? Are there characteristics of certain types of goods that would make advertising information regarding these goods particularly useful to consumer?monopolist (with increasing marginal cost as production increase) is producing at a point at which marginal REVENUE exceeds marginal COST. How should it adjust its output to increase profit?