Monopolies and Ads and Elasticity Questions

Monopolies and Ads and Elasticity Questions

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Monopolies and Ads and Elasticity Questions

Monopolies, Ads, Elasticity, Questions

I’m working on an Economics question and need guidance to help me study.

1. Advertising

How does advertising benefit society? In what ways can advertising be harmful? Give an example (YouTube link) of an effective advertisement (that had a positive impact on demand).

2. Monopolies and Elasticity

Recalling what you have learned about elasticity, what can you say about the connection between the price a monopolist chooses to charge and whether or not demand is elastic, unitary, or inelastic at that price? (Hint: Examine the marginal revenue curve of a monopolist. The fact that marginal revenue becomes negative at low prices implies that a portion of the demand curve cannot possibly be chosen.) Please include an example with your posting.

The Change in Demand and Quantity Demanded Essay

I’m studying for my Economics class and don’t understand how to answer this. Can you help me study?

Answer one of the following questions, option A or B:

Option A: After reading Chapter 3 in the textbook and the lecture notes posted in Module #2, in your own words, explain the difference between a change in demand and a change in quantity demanded. Be sure to explain what causes each to change and how they differ when graphed. To help support your answer, using a single product, give an example of a change in demand for that product and a change in the quantity demanded of that product.

Option B: After reading Chapter 4 in the textbook and the lecture notes posted in Module #2, In your own words, define the term price ceiling. Explain some of the economic consequences that can result from a price ceiling being imposed and be sure to mention how the placement of the price ceiling (in relation to the equilibrium price) can influence this impact.

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