Abstract
This paper defines monopolies. The author states that monopolies are not outlawed in the U.S. and names several public and private monopolies. The paper examines various microeconomic issues relating to monopolies such as the existence of natural monopolies, near monopolies, monopoly power, oligopolies, legal monopolies, government sponsored monopolies and the proper role of government.

From the Paper
"The concept of a monopoly is not merely an economic theoretical possibility. Monopolies exist in the United States. Monopolies were not declared illegal under any of the federal antitrust laws including the Sherman Act the Clayton Act the Robinson-Patman Act or the Federal Trade Commission Act. A few of the many monopolies that currently exist are the U. S .Postal Service, the Organization of Petroleum Exporting Countries, various public utilities, Microsoft Corporation, Major League Baseball, Intel Corporation and the International Long-shore Warehouse Union. A monopoly involves artificial restriction of production ..."

Tags:Microeconomic, monopolies, natural monopolies, oligopolies, economic theory, government intervention, trust busting, near monopolies, Intel, Microsoft, consumer prices, choice

Abstract
This paper examines components of restrictive rent control legislation and its economic and social consequences in America. This examination focuses specifically on rent control applications in New York City and the urban cities of Santa Monica and Berkeley, California. Additionally, the paper discusses how government regulations violate two of the eight basic principles of economic thinking. These basic principles are: (1) incentives matter choice is influenced in a predictable way by changes in economic incentives and (2) economic actions often generate secondary effects in addition to their immediate effects.

From the Paper
"Rent control is one of the most controversial social welfare programs in existence. In 1943 and after World War II, the federal government enacted rent controls as a "temporary" attempt to combat housing shortages in intensive populated or urban areas and to protect residents from high housing prices. Opponents argue that rent control result in decreased levels of construction, decreased levels of maintenance on existing properties, and abnormal housing vacancies, and is therefore economically ineffective. Some opponents even feel that rent control causes homelessness. Advocates of rent control and rent stabilization see it as a way to ensure the availability of affordable rental housing for low and middle-income urban dwellers. Rent control advocates contend " there was already a housing shortage and that rent-control laws were enacted to keep landlords from taking advantage of the situation by "gouging" tenants" (Sowell, 1999). Many rent control proponents feel that the abolishment of rent controls would result in increased homelessness. "

Tags:control, rent

Abstract
This paper discusses the pros and cons of a market economy. The paper claims that in East and Central European societies corruption is widespread, social disciplines and ethics are low, and demand for social justice is weak, therefore social disciplines and ethics should be restored for rolling back de facto briberies and corruption effecting government and semi-privatized institutions. Suggestions are made as to what the government should do to motivate people to play a more active role in business and social life.

From the Paper
"In a standard neoclassical model of the economy, there are markets for everything, now and for the future; everybody knows everything, and they know the same things; and there are no public goods, no externalities, no transaction costs, and no increasing returns. Since under these assumptions the market generates the first best allocation of resources, state intervention, in any form or fashion, is but a transfer of income; in turn, transfers of income, by causing rates of return to diverge from the competitive allocation, reduce incentives and misinform about opportunities. So, in this case, the market wins round 1."

Tags:microeconomics

Abstract
An examination of the financial side of running a business. Includes graphs and tables. Topics discussed are short run costs, long run costs, monopoly and oligopoly.

From the Paper
"In economics, the short run is defined as a time period in which a company's inputs are fixed. The short run costs of a firm are the cost functions that are prevailing in the production of a firm's goods in the short run. In the short run, the obligations of the firm per time period for all fixed inputs are called "total fixed costs". These includes the interest payments on the capital borrowed for the purpose of business, property taxes, leasing expenses etc. on the other hand, the total obligations for variable inputs over a period of time are the "total variable costs" of the firm. The variable inputs include those inputs that can be very easily changed and on a short notice. The variable costs of a firm usually includes the payments for the purchase of raw materials, labor costs etc. within a certain limit a firm can easily increase or decrease its output by varying the consumption of variable input. This gives rise to the Total Fixed Cost (TFC), Total Variable Cost (TVC) and Total Cost (TC) functions of the firm."

Tags:monopoly, supply, demand, firm, market, traded, output

Abstract
This essay covers the basic terminology for economics including marginal cost, opportunity cost, sunk or fixed cost, microeconomics, macroeconomics, and other terms relating to the principles of economics. It also briefly explains what it is that economists do.

From the Paper
""Economics is the study of how people choose to use their scarce and limited resources to produce, exchange, and consume goods and services in an attempt to satisfy their unlimited wants" (McEachern, p. 15). Many Americans spend a large part of their lives participating in economic activities. Purchasing a new home, vehicle, television, stereo, etc. are examples of an economic activity."

Tags:cost, costs, economics, fixed, macroeconomics, marginal, microeconomics, opportunity, sunk

Abstract
This paper examines the similarities and differences of the marketing environment and strategies of Coca Cola and Pepsi. The paper discusses these two corporation's ongoing battle for global soft drink domination. The paper describes how Coke and Pepsi share the same demographics, economic conditions, competition, social and cultural facets, technology, and political and legal problems inherent with each of their markets. The paper explains that the external macro environments are similar for each, but how they both use their marketing programs involve different tactics and strategies.

From the Paper
"One micro external environment advantage both Pepsi and Coke enjoy is their extensive distribution, or marketing intermediaries. These distributors increase their profits by producing and selling the products directly to customers at the local level. Pepsi and Coke use these firms and distributors to make their large profits in exchange for their knowledge and their soft drink bases and concentrates."

Tags:soft, drink, micro, macro, industry, corporation, global, cola, diet

Abstract
This paper examines the housing industry from an economic perspective. Various factors that affect housing are considered, such as the impact of price elasticity on the housing market and supply and demand. The author also explores other issues such as wage inequality and inflation. The author concludes by citing the economy's overall influence on the housing industry.

Price Elasticity
Negative and Positive Externalizes
Wage Inequality
Monetary and Fiscal Policies

From the Paper
"There are several factors that can influence the housing industry economically. Supply and demand coupled with price elasticity can affect the housing industry. Negative and positive externalities, wage inequality, and the monetary and fiscal policies can all have substantial affect the industry of new homes. It must also be determined exactly how the economy affects the industry in both positive and negative ways."

Tags:supply, demand, price, elasticity, wage, inequality, externalities, monetary, fiscal, housing, industry, economics

Abstract
This paper discusses and differentiates the four primary economic market structures of perfect competition, monopolistic competition, oligopoly and monopoly, suggesting examples of each. It also addresses how firms in each of the market structures respond to these factors.

From the Paper
"Market structure is the particular environment of a firm, the characteristics of which influences the firm's pricing and output decisions (Arnold, 2001, p. 501). There are five features that determine the level of competition in an industry which characterize an industry in a particular market structure. These include: (1) the number of buyers and sellers; (2) the amount of differentiation between the products of different firms in the industry; (3) the ease with which new firms enter or old firms exit the market; (4) the availability of information about prices and availability of products and resources; and (5) the ways in which firms in the industry compete with each other, such as through prices or advertising."

Tags:competition, economics, monopoly, oligopoly, pricing

Abstract
This paper analyzes a survey that appeared in "The Economist," which examined the economic and social impact of the legalization of drugs around the world. It focuses on the microeconomic effects legalization would have and analyzes data presented in the survey using tools and methods that are taught at intermediate level economics classes. This paper examines the effects of legalization on price, demand, consumption and distribution.

From the Paper
"Regardless of the moral or political positions one takes on the use or trade of illicit substances, one has to appreciate the complexity and the organization of the world drug trade. The drug trade is a truly global industry, as the production and distribution of illegal substances requires participation from, and relatively unmatched cooperation between, different groups from nearly every corner of the world. As impressive as the geographic scope of the drug trade is the economic prowess of the industry, which generates annual sales of somewhere between $150 and $400 billion, based on different estimates. The industry's illegitimate status also makes it one of the most dangerous in the world for those who participate at all levels, from producers to distributors, and even to consumers. The drug trade also causes enormous problems, both financially and socially, to nearly every nation involved - and not just from the questionable nature of the drugs themselves, but also because of the tactics employed by the world's most powerful governments, especially by the United States, to eliminate, curb, or otherwise control the flow of illegal substances. In the survey in The Economist, powerful arguments are presented that try to establish that the policies and enforcement strategies of the world's powers against the drug trade cause far greater harm than the industry does itself. Further, the survey argues a great deal of the problems caused by the drug industry to nations and peoples around the world are more a result of these policies and tactics than anything inherent in the industry or the substances themselves. The survey presents a number of arguments from both a social standpoint and an economic perspective as to how the United States and the rest of the world might benefit from the legalization of illicit substances. In this paper the focus will be on the economic evidence presented in the survey and its correlation with the theory of the firm and the consumer in microeconomics."

Tags:consumption, demand, drugs, economics, economist, legalization, microeconomics, price, supply

Abstract
The Cost Benefit Analysis Theory involves weighing the cost to do or acquire something and benefit that it would return from the process. This paper shows that carrying out a cost benefit analysis is a technical exercise involving numerous choices and calculations. The more complicated the decision being addressed, the more care should be taken to identify and measure key variables and to analyze them appropriately. The paper looks at how the theory is applied to public policy decision making and the issues that are examined to determine benefits to different segments of the population.

From the Paper
"At the same time that society has become increasingly complex we have entered a political era when the social benefits of governmental activities are increasingly questioned. As we have experienced an increase in the unintended outcomes and unexpected consequences resulting from public policy, there has been an increasing call from many quarters to subject all government programs to an examination by cost-benefit analysis, because cost-benefit analysis provides a means of comparing complex projects, even when benefits and costs occur during different time periods (Leonard, HB. & Zeckhauser, R.J1983)."