« previous next »

Author Question: A growing number of cigar manufacturers in the Caribbean and Central America have begun producing ... (Read 77 times)

captainjonesify

  • Hero Member
  • *****
  • Posts: 543
on: Jun 29, 2018
A growing number of cigar manufacturers in the Caribbean and Central America have begun producing and exporting cigars to the U.S. market. How has this affected the equilibrium price and quantity of cigars?
 
  What will be an ideal response?

Question 2

Why are some of the markets that provide information likely to be dominated by monopolies?
 
  What will be an ideal response?


ultraflyy23

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jun 29, 2018
Answer to Question 1

The supply curve for cigars shifted to the right resulting in a lower equilibrium price and higher equilibrium quantity.

Answer to Question 2

Objective information about, say, the quality of a good or service or the risk associated with a particular activity is costly to obtain. Once it is obtained, however, the marginal cost of disseminating it is low. With the low marginal cost, the firm can enjoy significant economies of scale, so these markets might be close to natural monopolies, that is, a market in which one firm can meet the demand at lower cost than could two or more firms.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

captainjonesify

  • Hero Member
  • *****
  • Posts: 543
Reply #2 on: Jun 29, 2018
Thank you


ultraflyy23

  • Sr. Member
  • ****
  • Posts: 312
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Refinement of skills and a growing sense of independence are most noted in toddlers Refinement of skills and a growing sense of independence are most noted in toddlers
Central Nervous System Stimulants That Are Scheduled Drugs Central Nervous System Stimulants That Are Scheduled Drugs
Social Development in Central Asia Social Development in Central Asia
What would your average (mean) number of cells per cluster be? What would your average (mean) number of cells per cluster be?
Plot showing the number of genes on each human chromosome Plot showing the number of genes on each human chromosome
Alpine tundra. Low-growing, hardy plants at a high altitude in Washington’s Cascade range. Alpine tundra. Low-growing, hardy plants at a high altitude in Washington’s Cascade range.
Video: Hershey Chase Experiments

For a complete list of videos, visit our video library