Read the article titled “The Hidden Monopolies That Raise Drug Prices (Links to an external site.)Links to an external site.” in The American Prospect about a current monopoly (or near-monopoly, which effectively is very similar) in the US drug market.Explain what parts of the article were illuminating, disturbing, disagreeable, etc.What did you learn from the…

1. It is widely believed that standard neoclassical (supply and demand) economics supports free-market conclusions, while behavioral economics (game theory experiments, bounded rationality, Winner’s Curse, imperfect information models, etc.) supports government intervention. Give two counter-examples. Explain your reasoning. 2. Name one concept from this class that you believe will have the largest private benefit to…

10.11. Describe the terminal value of the following portfolio: a newly entered-into long forward contract on an asset and a long position in a European put option on the asset with the same maturity as the forward contract and a strike price that is equal to the forward price of the asset at the time…

1. According to the Nash Bargaining model of employment, what is the effect of minimum wage laws on unemployment? [As always, you need to carefully explain your response. You will likely want to use graphs to aid in your explanation. You will want to use graphs in many other questions as well.] 2. Inflation in…

CUCNY Economics Universal Basic Incomein a Modern Economy Discussion Discuss the potential advantages and disadvantages of implementing a universal basic income (UBI) in a modern economy. How might UBI impact labor markets, income inequality, and overall economic productivity?

In granting (or prohibiting) proposed acquisitions or mergers in an industry, government regulators consider a number of factors, including the acquisition’s effect on concentration, ease of entry into the market, extent of ongoing price competition, and potential efficiency gains. In 2011, T-Mobile agreed to merge with AT&T at an acquisition price or $39 billion. However,…

“Examine the relationship between inflation and unemployment, as described by the Phillips curve theory. How has this relationship evolved over time, and do recent economic trends challenge the traditional Phillips curve concept?”