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27 Aug 2018

Discuss the similarities and differences among monopoly, perfect competition, and oligopoly.

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Explain the importance of government involvement with health care entities at the local, state, and federal levels.

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Jean Keeling
Jean KeelingLv2
30 Aug 2018

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Related questions

A. Microsoft's two main products, Windows and Office, could be examples of

  1. a natural monopoly.
  2. perfect competition.
  3. monopolistic competition.
  4. an oligopoly.

B. Which is not an example of government intervention in the economy?

  1. The Brookings Institute.
  2. The Federal Aeronautics Administration.
  3. The Food and Drug Administration.
  4. The Federal Reserve.

2. Analyze the differences and similarities among firms for two different market structures: Monopoly and Monopolistic Competition. Clearly demonstrate how both types of firms determine the quantity (Q) to produce that maximizes profit.

Contrast the long-run profit levels that prevail in Monopoly with those of Monopolistic Competition, and explain clearly why the differences occur.

How do the long-run end-results of Monopoly and Monopolistic Competition compare with the end-results of perfect competition, in terms of the impacts on efficient resource used in the overall economy?

Why do economists make a distinction between “natural monopoly” and “artificial monopoly”? In your answer, be sure to identify how these types of monopoly differ from each other, and why government responses (especially in the US) to these types of monopoly are quite divergent.

Provide an example of an industry that you think is either a monopoly or is monopolistically competitive, and provide reasons as to why you think the category fits that industry.

What are the social and global economic impacts on health care in the present day relating to budgetary cuts from the various levels of government (local, state, and federal)?

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