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Respond to one of the following prompts. Be sure to identify which prompt you are discussing in the title of your initial post.
Google dominates online search options and advertising. Some contend Google is a monopoly. First, consider competition and answer these questions:
Is Google protected by a barrier to entry, and If so, which barrier(s)?
Is there a viable substitute for Google?
Second, consider whether Google is a monopoly or not.
How does Google’s control of the market influence market price and market quantity?
If Google is a monopoly, how would breaking up affect the market price and market quantity?
How do we test these hypotheses?
Suppose that Spacely Sprockets’ marginal cost of a jacket is a constant $150 and the total fixed cost at one of its stores is $3,000 a day. This particular store sells 40 jackets a day, which is its profit-maximizing number of jackets. The nearby stores begin to advertise their jackets. The Spacely Sprockets store now spends $1,500 a day advertising its jackets, and its profit-maximizing number of jackets sold jumps to 50 a day.
What is this store’s average total cost of a jacket sold before and after the advertising begins?
What happens to the price of a Spacely Sprockets’ jacket, Spacely Sprockets’ markup, and Spacely Sprockets’ economic profit? Why or why not?
Explain your response with specifics and provide examples.
In your replies:
Share past experiences that may relate to your peers’ responses.
If you found any of your peers’ tips or ideas useful, share them and explain why you might use them yourself in the future.
Provide any input that may be useful in your peers’ initial post.
Cite and reference sources according to APA Style.