unit 8 and unit 9 discussion
In this bid you will answer the 2 discussions differently. Don’t mix the two questions together.
Unit 8 Discussion
Assume that you are going to start a small business of your own.
Describe the business and discuss the following:
What costs you would incur;
What competition you might experience;
How you would determine the price you would sell your product; and,
How much product you would produce?
Note: These are all the question for unit 8 Discussion(you can answer all these question in one paragraph)
Unit 9 Discussion
Describe an example of a real-world industry or market that would be considered by economists to be a natural monopoly.
What is the impact of the monopoly power on its customers?
What characteristics of the industry make it a monopoly?
Why might government want to regulate natural monopolies?
How might such regulation be structured?
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