If occupational safety laws were changed so that firms no longer had to take expensive steps to meet regulatory requirements, we would expect a.competition to force producers to pass the lower production costs on to consumers in the long run. b.the firms in the industry to make long-run economic profit. c.the market price of the products of this industry to decrease in the short run but not in the long run. d.the demand for the products of this industry to increase.

T or F Market concentration measures fail to accurately assess the industry's market power.  Why?

How can a business compete with other businesses that sell the same products?         Lower the price of the competing item.         Produce less of the competing item.         Raise the price of the competing item.         Produce more of the competing item.

Give typing answer with explanation and conclusion  When a pharmaceutical company discovers a new drug, patent law gives it market power by guaranteeing: Question 7 options: sole ownership of the right to sell the drug for a limited number of years. partial ownership of the right to sell the drug for an unlimited number of years. sole ownership of the right to sell the drug for an unlimited number of years. partial ownership of the right to sell the?

Use diagrams to explain what happens when the patent of a product expires, and the firm operates facing new competition from other producers entering the market and offering differentiated varieties of the same product.  Explain how the market looks like (i) before the patent expires, (ii) in the short run after the patent expires and (iii) in the long run after the patent expires. Comment on the change in profits for the firm. Please offer examples of real-life markets where this is the case

Hi please answer i and ii

Imagine you are the managing director of a full service restaurant. One day you receive a complaint letter from a guest reporting s/he was not satisfied with the follow up regarding their criticism of being overcharged in one of your restaurants.   1. Is there a training need? Discuss.

How would you describe the development of the market regulation and the concept of "fair competition" in the market?

Use diagrams to explain what happens when the patent of a product expires, and the firm operates facing new competition from other producers entering the market and offering differentiated varieties of the same product.  Explain how the market looks like (i) before the patent expires, (ii) in the short run after the patent expires and (iii) in the long run after the patent expires. Comment on the change in profits for the firm. Please offer examples of real-life markets where this is the case.

revenue MC AC 10 AR=MR=DD AVC 8 5 3 Quantity 20 25 Answer the questions based on Figure 2 above. (d) What is the market structure faced by this firm? (e) What is the equilibrium price and quantity? (f) Does the firm make a profit or a loss? What is the value? (g) Assume that the economic downturn causes a decline in the price of goods. What are the conditions of closing the factory where the firm will stop production? (h) What is the price level at the factory closing point?