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MBA, Ph.D in Management
Harvard university
Feb-1997 - Aug-2003
Professor
Strayer University
Jan-2007 - Present
Answer all THREE questions below using economic concepts to validate your explanations. One paragraph for each question.
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Q1. Should firms in perfectly competitive markets advertise? Why or why not?
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Q2. Respond to the allegation that if all firms in an industry are charging the same price, this indicates the absence of competition and the presence of some form of price-setting agreement.
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Q3. Compare the four market models (perfect competition, monopoly, oligopoly, and monopolistic competition) on the probability of each to earn economic profits in the long-run and their social desirability.
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