Define and explain: A) the characteristics of an oligopoly f…
Define and explain: A) the characteristics of an oligopoly firm. B) Explain the oligopoly firm at the optimal level of output and making an oligopoly profit. C) What are the problems associated with an oligopoly firm? Explain. D) How realistic is an oligopoly firm? Explain. E) How does the kinked demand curve represent the characteristics of an oligopoly firm in a noncompetitive industry?
Read DetailsDefine and explain the characteristics of: A) the relationsh…
Define and explain the characteristics of: A) the relationship between the balance of payments, the current account and the capital account, B) international trade, absolute and comparative advantage, C) globalization, and D) the arguments for and E) against trade protection.
Read DetailsDefine and explain: A) the characteristics of a monopolistic…
Define and explain: A) the characteristics of a monopolistically competitive firm. B) Explain the monopolistically competitive firm at the optimal level of output and making a normal long run profit, C) making an excessive profit and making a loss. D) What are the problems associated with a monopolistically competitive firm? Explain. E) How realistic is a monopolistically competitive firm? Explain.
Read DetailsDefine and explain: A) the elasticity of supply, B) elastici…
Define and explain: A) the elasticity of supply, B) elasticity of demand using the midpoint formula with an example of P1, P2, Q1 and Q2. Define and explain C) elastic and inelastic demand, D) unitary and infinite elasticity. E) Explain income and cross price elasticity.
Read DetailsDefine and explain: A) the characteristics of the factor mar…
Define and explain: A) the characteristics of the factor markets, e.g., the labor markets and markets for land. B) Define and explain the role of the financial markets and the value of the marginal product; C) equilibrium in the factor market. D) What is the influence of robots and automation in the factor market for oligopoly and monopolistically competitive firms? Explain. E) What effect will artificial intelligence have on the labor market? Explain.
Read DetailsDefine and explain the characteristics of the Texas municipa…
Define and explain the characteristics of the Texas municipal governments in terms of: A): the legal status and B) the forms of municipal governments and C) the sources of revenues. D) Do municipal governments play an essential role in the overall organization and functioning of society? Explain. E) Explain role of a city charter and ordinances.
Read DetailsDefine and explain the formal and informal executive powers…
Define and explain the formal and informal executive powers of the Governor of Texas: A) appointive, removal, military, law enforcement, B) budgetary, executive orders, proclamations and economic development. C) Why is the Texas executive branch classified as a plural executive? Explain. D) Why is the Governor of Texas referred to as a “weak” executive? Explain. E) Should the Texas executive branch be reorganized? Why? Why not? Explain.
Read Details