Assignment (Economics) Example | Topics and Well Written Essays - 500 words - 4

(Economics) - Assignment Example As the equilibrium price is higher with a monopoly, consumer surplus will be lower than it would be under competition. If the NPS values consumers more than firms, the monopoly outcome may not be desirable. With only one firm, there may be efficiency gains. For example, it may be that the firm needs to employ fewer employees to service all of the visitors to Yosemite relative to the combined number of employees given competition in the market. Hence average total costs may be lower with only one firm. It is therefore possible that the firm posts lower prices and sells more units yielding a surplus to society. 4. Monopolistic competition has some of the same characteristics as monopoly and some of the same characteristics as perfect competition (hence the name "monopolistic competition"). List a few of these similarities. Perfect Competition: Economic profits tend to be eliminated in the long run, the relatively free entry of new firms, the long‑run price and output behavior, zero long-run economic profits, and have many buyers and sellers. The entry and exit of firms in monopolistic competitive firms will eventually cause each firms economic profits to fall to zero. Hence, eventually, each firm earns normal profits, i.e. profit = 0. When some firms earn positive economic profits at one time, new firms will end up entering the market and the increased competition will reduce all firms economic profits to zero. 7. Complete this statement by filling in the blanks with the words "increase" or "decrease": The entry of an additional firm in a mon. comp. market decrease the profit per unit of output because entry increase the price and increase the average cost of production. 8. Consider the Utica Slappers, a hockey team that plays in an arena with 8,000 seats. The only cost associated with staging a hockey game is a fixed cost of $6,000: The team incurs this cost regardless of how many people attend a game. The demand curve for hockey tickets has a slope of

History of horror gener and two media crtiques (film analysis) about Essay

History of horror gener and two media crtiques (film analysis) about Dracula 1931 and Frankenstein 1931 - Essay Example Since, the stories that are not relating to realty or generated to exaggerate a scene about a situation, many sorts of genre were introduced to the film industry. Such forms of stories are categorized as fiction. In all the cultures around the world there is a concept of the devil, demon, and negative darkness. In the earlier centuries, civilizations had a strong concept of non-physical spirits, which were meant to horrify people. The legends about monsters and heroes that defeated them and saved lives of many have been heard for over several millenniums. Even in the Chinese dynasty, it is found to be believed on ancestors worship since 1500 years B.C. Probably every culture having a set of stories and tales that  make a  person wondering and having  chills gave rise to horror movie’s genre in films (Spadoni, 2009). In the horror category, first the Gothic tradition took part with a novel, The Castle of Otranto, by Horace Walpole (1764). That novel gave popularity to the word ‘Horror, leaving its readers stilted as it had a supernatural shock. Then came other writers who gave us the short stories and novels in this category. One of them was the first great and classic novel ‘Frankenstein’ in 1818, written by Mary Shelley. Bram Stoker and Edgar Allan Poe were also the famous gothic writers of the 18th century. It was through the gothic literature that the horror genre inspired the filmmakers as a unique category. This genre also gave rise to the Halloween monsters, which is a fast approaching concept. The term ‘Horror’ is a projection of fear, it is a part of  the  imagination, whether we appreciate it or not. The modernized horror genre had been introduced for about 200 years ago. This genre was popular in books and theater. The first horror film was made in 1930, ‘Spook Tale’ from 1895, by Lumpier brothers. In the 19th