Thinking about market structure... a) For each of the following explain the degree of market power the seller has, and whether the market power is due to limited competitors, product differentiation, or both.
i) The Toyota Corolla, the best selling passenger vehicle in the world in 2017.
ii) Heartland Mills, a grower of wheat in Wichita County, Kansas.
iii) Archer Daniels Midland (ADM), the largest producer of Lysine, a standardized amino acid used by farmers as a feed additive. ADM competes with a few large corporations in Europe and Japan.
iv) McDonald's, the most popular fast food restaurant in the United States.
b) For each of the following state whether the market is most accurately described as perfectly competitive, monopoly, oligopoly, or monopolistic competition, and briefly explain your answer.
i) Seattle City Light, the sole supplier of electricity to the Seattle metro area.
ii) The aircraft manufacturing industry.
iii) The dry cleaning industry. The market for smart phones. The hotel industry.

Which term refers to the cost that motivates an economic decision

Suppose that hubert, an economist from an am talk radio program, and kate, an economist from a nonprofit organization on the west coast, are arguing over government bailouts. the following dialogue shows an excerpt from their debate: kate: to recent financial crises, the concept of bailouts is a hot topic for debate among everyone these days. hubert: indeed, it’s gotten crazy! a government bailout of severely distressed financial firms is unnecessary because free markets will properly price assets. kate: i don’t know about that. without a bailout of severely distressed financial firms, the economy will experience a deep recession. the disagreement between these economists is most likely due todifferences in scientific judgments . despite their differences, with which proposition are two economists chosen at random most likely to agree? business managers can raise profit more easily by reducing costs than by raising revenue. central banks should focus more on maintaining low unemployment than on maintaining low inflation. employers should not be restricted from outsourcing work to foreign nations

Awork system has five stations that have process times of 5, 9, 4, 9, and 8. what is the throughput time of the system? a. 7b. 4c. 18d. 35e. 9