Monopoly is a type of competition that doesn’t really have any competitors because it is firms that are regulated by the government. The MTA is a good example‚ because you cannot compete with that they are single sellers that have these businesses. 3. Oligopoly has a few competitors but it is difficult to enter into the business because they are a few major sellers‚ the products they offer are for example phone service‚ cable TV‚ Airlines‚ etc. These companies do not have many competitors because
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1. Jim & Co. produces a single product. It runs an advertising campaign it is sure will differentiate its product from their competitors by making it more attractive. Assuming that Jim & Co. are correct‚ what will happen to the demand for its product and what pricing strategy should it employ? a. Demand will become more elastic and they should lower the price. b. Demand will become more elastic and they should raise the price. c. Demand will become less elastic and they should lower the
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In its use of data to make sense of seemingly unrelated events via economics- Freakonomics operates from a rather Godless perspective- denying His design. The authors work very hard to stick to the numbers and to be objective. However‚ as we learned in our primary textbook- “Values enter the picture at several stages‚ both consciously and subconsciously- when choosing a topic to research‚ when variables are chosen to use in analysis‚ and finally when suggestions are made as to how a problem may be
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Levitt‚ Freakonomics addresses those conventional wisdoms conceived by the partisan tendencies of the experts behind them; it delves into the economics‚ or as Levitt puts it‚ “incentives‚” behind…everything. Freakonomics does not attempt to constrain itself to discussion of exchange of goods and services. Its application of economic principles to a variety of scenarios ensures that the book appeals to a general audience rather than remaining an obscure book only read by the academia. Freakonomics is
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13. In June an investor purchased 300 shares of Oracle (an information technology company) stock at $20 per share. In August she purchased an additional 400 shares at $25 per share. In November she purchased an additional 400 shares‚ but the stock declined to $23 per share. What is the weighted mean price per share?(10%) ANS: $22.91‚ found by 14. The Bookstall‚ Inc.‚ is a specialty bookstore concentrating on used books sold via the Internet. Paperbacks are $1.00 each‚ and hardcover books are
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society live by. Freakonomics‚ is a book that really triggered my imagination as a kept on reading‚ I really loved it. I myself started asking myself a great amount of questions that I had never looked at before. Especially toward the end that he asks the importance of ones parents with him. Levitt uses a smart technique to catch the audience attention‚ he uses really weird questions as chapter titles like: What do school teachers and sumo wrestlers have in common? This chapter focuses on what
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“Freakonomics” Would a Roshanda by any Other Name Small as Sweet Mason Noble POLS 101 Mr. Sims Summary: Chapter 6 of this book talks about whether or not the name that a parent give their child matters. Levitt provides an example about a New York City man who was named Robert Lane‚ he named his first son Winner and then named his next son Loser. Despite what his name suggests‚ Loser Lane succeeded in life‚ moving up in the NYPD. Winner Lane however‚ has been arrested nearly thirty six times
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best for them. However this want‚ can become obsessive. They find themselves at a point where they feel that if they child makes a mistake that they will be criticized by their peers. Parents have different ways of raising their kids. The book Freakonomics discusses the attributes of different kinds of parents‚ and what are the most successful methods. Some parents have a tendency to become overinvolved with the lives of their children. This over involvement has led to the term “helicopter parents
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entitled ‘AP Macroeconomics‚’ I truly had no idea what the ‘macro’ in the word meant. Of course I knew the meaning of economics—it’s everywhere in these trying times of the economy‚ plus‚ it was a vocab word in middle school. Now that I’ve read Super Freakonomics‚ I have an understanding of what the prefix in the word actually means and I find it interesting‚ perhaps even a future career option‚ or major in college. This book made me think in different ways‚ ways that I never imagined to think of before;
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like everyone and their mother has been listening to podcasts these days. I’m happily on the board with the whole podcast-craze‚ and if you’re looking for a form of (sometimes) educational entertainment‚ I’d highly suggest checking these out: 1) Freakonomics. This podcast “explores the hidden side of everything”‚ using economics to better explore behaviors‚ history‚ science‚ you name it. I’m sure a lot of you have heard of this podcast before‚ but if you haven’t yet‚ definitely take a listen. Even
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