43. Often times many students are completely surprised by the sometimes counterintuitive conclusions of economic science. For example, why raising the minimum wage for lower-skilled workers to improve their earnings prospects actually reduces their opportunities and makes them worse off (the policy creates more unemployment in the very demographic that the policy maker is trying to help). Another one we discussed extensively was the “broken window” fallacy, or the proposition that destruction creates economic growth. There are countless others. Try your hand at explaining the one below.
We talked quite a bit about textbook monopoly theory and its potential weaknesses. Why
does the theory appear to be inapplicable (that is, why doesn’t there seem to be much
evidence in the real world for the existence free market monopolies)? (I’m looking for a very specific answer, as we discussed it often.) (6 points)
44. How would the assumption of perfect information in the theory of perfect competition
render advertising utterly ineffective? (5 points)
45. Many economists argue that the textbook model for analyzing and regulating monopolies is inappropriate for economic policy theorists even for the most egregious historical examples of monopoly. In 100 words or less, explain his argument using both your understanding of his position and your understanding of the textbook monopoly model that you just learned.
46- Why is natural monopoly theory a poor justification for government authorities to control and protect public utilities (water, sewer, cable television, electricity, phone service, etc.) by granting exclusive production rights? (worth 5 possible points)
Why Work with Us
Top Quality and Well-Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
Professional and Experienced Academic Writers
We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.
Free Unlimited Revisions
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.
Prompt Delivery and 100% Money-Back-Guarantee
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.
24/7 Customer Support
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission Essays & Business Writing Help
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.