Microeconomics - Essay Example

Only on StudentShare

Extract of sample

This is illustrated by the diagram below.
c) In order to achieve a socially efficient level of coal gas mining, policies that promote the underground water system understanding, interconnectivity and the gas extraction and processing life cycle should be adopted. Secondly, policies that demand absolute scientific knowledge of the industry and its potential impacts on the society matter. These to enable a comparison of efficient coal power generation and the societal efficient production requirements to minimize the adverse effects on the society.
a). The key most barrier to entry that would help to establish and keep Monsanto’s market power in the United States seed market is the patenting of the Monsanto seeds that prevents farmers from stocking other seed companies. The high cost of entry into the seed industry as a result of the high prices charged by Monsanto is another significant barrier to entry. New companies would find it very expensive to incur high entry costs that may be risky given the established Monsanto Company. The policies and the high prices are the significant barriers to the entry of other companies into the industry.
b). If the United States Department of Justice investigations resulted in the cancellation of the Monsanto patents as an anticompetitive practice in the seed industry, a number of resultant effects would be experienced. Firstly, the level of competition in the US seed industry will most likely increase as more seed companies will be able to venture into the industry with reduced barriers to entry. The farmers will have a choice between varieties of the seed companies for their seed markets. Secondly, the supply of seeds is likely to increase with increased number of seed companies into the industry. As a result, the prices of seeds in the market will be driven down by the increased supply, and this would reduce the ...Show more


Coal-seam mining affects the water table and subsequently the agriculture and with associated health costs.
b) Sometimes, market outcome differs from…
Author : annabelle72
Save Your Time for More Important Things
Let us write or edit the essay on your topic
with a personal 20% discount.
Grab the best paper

Related Essays

The brand is commonly used for lavishness trucks, buses, automobiles and coaches. Mercedes-Benz has its headquarters in Stuttgart, Baden-Wurttemberg in Germany. The firm is highly regarded as one of the top automobile brands in the world, which is widely marketed all over the world.
5 pages (1250 words) Case Study
Hence, microeconomics relates to the study of allocation of funds by different sections of users, which include domestic households, firms and industries. Their decision making pattern is thoroughly studied to make assessment and observation for the future forecast of market condition, particularly when resources are limited.
10 pages (2500 words) Term Paper
This is just a simple explanation of these two economic principles because, in reality, it is a lot more complicated than that. Microeconomics is to do with the market’s
2 pages (500 words) Essay
In the year 2010, the US current account deficit stood at $470 billion compared $ 804 billion recorded in 2006 (Bergsten, 2011). The 2010 deficit constituted about 3% of the $ 14.7 trillion recorded the same year. According to the current global economic situation, the
1 pages (250 words) Essay
) The banks and investors can take advantage of the covered in arbitrage by investing in foreign currency and locking the position and eliminating the foreign exchange risk by entering into a forward contract. The forward contract involves buying the home currency at a future
2 pages (500 words) Essay
Similarly if he spends his entire budget on food then he will be able to consume 0 unit of water and 4 unit of food. The table below shows that how the consumer is able to allocate his budget on food and water.
8 pages (2000 words) Assignment
The third approach is the last dollar rule, whereby the firm should produce at a point where the last dollar it spends on an input
3 pages (750 words) Essay
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email