How does one measure competition in an industry? Can concentration be used as a proxy? What does SCP say about high levels of concentration and low levels of concentration?

MelCo’s Xamoff The global pharmaceuticals giant, MelCo, has had great success with Xamoff, and over-thecounter medicine that reduces exam-related anxiety. A patent currently protects Xamoff from competition, although rumors persist that similar products are in development. Two years ago, MelCo sold 25 million units for a price of $10 for a package of ten. Last year it raised the price to $11, and sales fell to 22 million units. Finally, a financial analyst estimates the cost of production at $2 per package. (a) Estimate the elasticity of demand for this product at $10. Is this price too high or too low? (b) Estimate the elasticity of demand for this product at $11. Is this price too high or too low? (c) Based on your answers to (a) and (b), what can we say about MelCo’s profit-maximizing price?

The accompanying graph depicts a hypothetical monopoly. Follow instuctions 1−3 below to identify the monopoly's profits. Place point E at the monopoly's profit maximizing price and quantity. Move the average total cost (ATC) curve to a position that depicts the monopoly earning a positive profit. Place the area labeled Profit in the area of the graph that represents the monopoly's profit.

How does market power or monopoly subvert the coordinating function of market prices?

how do sunk costs create a barrier to entry into the market place?

A hotel rents rooms to customers by the night. The hotel determines that if it sets the price of the room to be $160 per night, 145 rooms will be rented. In order to rent 195 rooms, it must lower the price to $110 per night. If the hotel sets the price to be $110 per night, what is the marginal revenue? The marginal revenue is $ per room. (Round answer to nearest dollar. If more than one answer, separate with a comma.)

Barney is a game designer but being old fashioned, he restricts his passion to creating board games. His latest game, Rubble Trouble, requires players to overcome various obstacles as they make their way around the board. Barney is concerned that others may copy his game. Based on your reading of the Business Law Textbook. Barney is best advised to protect his game by: Select one:  a. Applying for a patent so that he is granted a monopoly over selling his game for 20 years.  b. Registering his copyright, as copyright will protect his game for 50 years. Unless he registers his copyright, Barney will not be able to prevent others from copying his game.  c. Registering a trademark. The trademark will prevent others from copying the game for 15 years, but trademarks are not renewable.  d. Registering an industrial design, so that others will be prevented from creating board games of the same dimension and size.

True/ False  There is a price discrimination in the monopoly market.

Why does consumer surplus decline when monopolies are present?

RAGERIAL ECO X Question 3 Chapter 17 & 19 P X 13.1 Objectives and Methods of X a the more elastic the demand for x + https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl... A to 9 ( & 19 Problems Saved Help Save & Exit In an oligopolistic market, Multiple Choice the smaller the number of firms and the more elastic the demand, the greater the markup. the larger the number of firms and the more elastic the demand, the greater the markup. the larger the number of firms and the less elastic the demand, the greater the markup. the smaller the number of firms and the less elastic the demand, the greater the markup. Submit g 53