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Question: A government-created monopoly arises when a. government macroeconomics spending multipliers give ...

Show transcribed image text A government-created monopoly arises when a. government macroeconomics spending multipliers give rise to monopoly power. b. the government exercises its market control by encouraging competition among sellers. c. the government gives a firm the exclusive right to sell some good or service. e. the government gives a firm the exclusive right to sell good or service d. All of the above could qualify as government created monopolies. The laws government patents a. can lead to monopolies b. are intended to serve private interests, not the public interest. c. have costs, but no benefits d. All of the above are correct. The De Beers diamond monopoly (cartel0 was discussed in our lectures as a example of a cartel (or monopoly) that a. is government created. b. arises from the ownership of a key resource. c. results in very little advertising of the product that the monopolist produces. d. was broken up by the government a long time ago. Suppose most people regard emeralds, rubies, and sapphires as close substitutes for diamonds. Then DeBeers, the large diamond company, has a. less incentive to advertise than it would otherwise have. b. less market power than it would otherwise have. c. more control over the price of diamonds than it would otherwise have. d. higher profits than it would otherwise have. The 2016 "poverty line" for a four person household in the U.S. was around a. $5000 b. $12500 c. $24000 d. $35000 e. $58000

A government-created monopoly arises when a. government macroeconomics spending multipliers give rise to monopoly power. b. the government exercises its market control by encouraging competition among sellers. c. the government gives a firm the exclusive right to sell some good or service. e. the government gives a firm the exclusive right to sell good or service d. All of the above could qualify as government created monopolies. The laws government patents a. can lead to monopolies b. are intended to serve private interests, not the public interest. c. have costs, but no benefits d. All of the above are correct. The De Beers diamond monopoly (cartel0 was discussed in our lectures as a example of a cartel (or monopoly) that a. is government created. b. arises from the ownership of a key resource. c. results in very little advertising of the product that the monopolist produces. d. was broken up by the government a long time ago. Suppose most people regard emeralds, rubies, and sapphires as close substitutes for diamonds. Then DeBeers, the large diamond company, has a. less incentive to advertise than it would otherwise have. b. less market power than it would otherwise have. c. more control over the price of diamonds than it would otherwise have. d. higher profits than it would otherwise have. The 2016 "poverty line" for a four person household in the U.S. was around a. $5000 b. $12500 c. $24000 d. $35000 e. $58000