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liraira [26]
2 years ago
8

suppose you are advising a mayoral candidate in your town. the candidate’s platform includes strong opposition to monopoly suppl

iers because consumer welfare is compromised by monopoly pricing. which of the following statements would present your candidate with an alternative view about why it may make sense to tolerate the existence of some monopoly firms?
Business
1 answer:
nirvana33 [79]2 years ago
3 0

Considering the situation described above, the alternative view about why it may make sense to tolerate the existence of some monopoly firms is that "Monopolies do reduce consumers surplus by producing less and charging more than the outcomes that would occur in a competitive market, but at times it makes sense to sacrifice some efficiency.

This can be illustrated in a situation whereby certain goods or services may not be available except through the chance of earning monopoly profits. This occurs whereby a patent ensures there are incentives for research and development.

In some other cases, it is more ideal if good is produced by a monopolist rather than by multiple producers due to the large fixed costs in production; thereby, with more profits, the price of products would reduce in the long run.

Hence, in this case, it is concluded that there are situations whereby Monopoly is necessary to provide goods and services for the people in a society.

Learn more here: brainly.com/question/13276400

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2 years ago
A university is trying to determine what price to charge for tickets to football games. At a price of ​$24 per​ ticket, attendan
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Answer:<u><em>  Price per ticket should be charged in order to maximize​ revenue is $15.</em></u>

<u><em>70000 people will attend at this price.</em></u>

<u><em></em></u>

Explanation:

Let 'x' represent the decrease .

Using the given information,

Price per ticket = 24 - 3x

Average no. of people that watch the game = 40000 + 10000x

Additional money spent by every person = 6(40000 + 10000x)

Revenue [R(x)] = Price per ticket \times Average no. of people that watch the game + Additional money spent

Revenue [R(x)] = (24 - 3x)\times(40000 + 10000x) + 6(40000 + 10000x)

On solving the above equation we get ,

Revenue [R(x)] = -30000x^{2} + 180000x + 1200000

In order to find the critical point we'll differentiate the following with respect to x;

R'(x) = -60000x + 180000

∵ R'(x) = 0  

x = 3

<u><em>Thus, the price per ticket that should be charged in order to maximize​ revenue is (24 - 3\times3 = 24 - 9 = $15)</em></u>

<u><em>People that will attend at this price = (40000 + 10000\times3) = 70000</em></u>

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3 years ago
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2 years ago
Assume the union freeman works with pays newer employees less than ones who have been with the organization for a longer time. w
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Assume the union freeman works with pays newer employees less than ones who have been with the organization for a longer time. The basis for this is: two tier contract.

<h3>What is two tier contract?</h3>

Two tier contract can be defined as the way in which employee who work in an organization does not earn the same wages as some employee earn higher wages that others while some earn lesser wages.

Hence, if  newer employees earn lesser  than those who have been with the organization for a longer time. The basis for this is called  two tier contract.

Learn more about Two tier contract here:brainly.com/question/984979

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