) Explain what is the difference between a monopoly and a dominant firm. b) (10 points) Assume that total market demand for the oil market is given by: QD = 200 – 2P. Assume further that the non-OPEC oil producers act as a competitive fringe with a supply given by QS = ½P -12.5

. The dominant firm marginal cost is given by MC = 10 + ½Q. Use the dominant firm model discussed in the recorded lecture to answer the following questions.

1. What is the minimum price needed for the competitive fringe to supply positive units of Output? 

2. At what price does the competitive fringe supply output to the entire market?

3. Derive the dominant firms residual demand function. Show all the steps.

4. Derive the dominant firm’s marginal revenue function. Show all the steps. 5. Show that the equilibrium price set by the dominant firm is P =$61.92 and the total market demand is Q = 76.16.

6. At the equilibrium price set by the dominant firm, how much will the competitive fringe supply to the market? Show it is Q = 18.46.

7. At the equilibrium price set by the dominant firm, how much will the dominant fifirm supply to the market? Explain.

8. Show the above answers graphically.

9.The competitive fringe reduces the market power of the dominant firm If the dominant firm wanted to try and eliminate the competitive fringe, how might the dominant accomplish this? Explain.

10. If the dominant fifirm eliminates the competitive fringe, explain how this will the market and the consumers.

Explain. Question 2 (20 points): Please fully explain your answer and clearly state if the statements are true or false. Points are awarded based on explanations.

1.(4 points) In a two-player game, a Nash equilibrium is the outcome that maximizes the sum of the players’ payoffffs. (you have one paragraph)

2.(4 points) In a Nash equilibrium in a two-player game, both players must have selected a dominant strategy. (you have one paragraph)

3.(4 points) Repeatedly playing the Prisoner’s Dilemma may or may not result in a cooperative solution. (you have one paragraph)

4.(4 points) In the models of oligopoly considered in the recorded lectures, the equilibrium price will be strictly lower if there are n + 1 fifirms than if there are n fifirms. (you have one paragraph)

5.(4 points) In the models of oligopoly considered in the recorded lectures, consumers are no better offff than in a perfectly competitive market. (you have one paragraph)
Requirements: 2 pages   |   .doc file

Write an essay of about 500 words. Your essay should contain an introduction with a thesis, at least three body paragraphs of support, and a conclusion. Your essay should be in MLA format.

1. Discuss the role of gender in “Night Waitress” pp. 42-43. (You must cite from MLM: Hull, “Night Waitress” pp. 42-43)

2. Who is the main subject of “Punishment” pp. 662-663? (You must cite from MLM: Heaney, “Punishment” pp. 662-663)
must be 5 paragraphs
Create a Works Cited page (1 source); MLA format which is one of the stories i provide

Create a digital poster or exhibit that connect the topic of the course to modern-day examples (from the recent past or current time). You will develop a digital exhibit that highlights contemporary representations of American identities that relate to at lease one assignment from the reading list. The exhibit may include items in any media format: art, literature, news, video, music, social media, advocacy sites, and more).

Your assignment will also include a 2-page paper or “curator’s note,” in which you will interpret and explain the message, significance, or implications of the representations you selected for your exhibit. In your curator’s note, draw connections to course readings, philosophical approaches, etc.
Requirements:

Organize and share your thoughts if the company decides to go public. How would complying with the Sarbanes-Oxley and PCAOB Auditing Standard No. 2201 change the company’s responsibilities for internal control? Then use your thoughts to:

• Describes the changes in internal controls (due to PCAOB and Sarbanes-Oxley standards) needed once they become a public company.
Your deliverable should be 3-4 pages in length. Please type your response in a Word document and follow APA format, according to CSU Global Writing Center (Links to an external site.).

Include a title page and reference page. Use two (2) outside academic sources other than the textbook, course materials, or other information provided as part of the course materials.

Generally social workers have a passion or interest in a particular social issue. Based upon your experiences in this class, life experience, and outside research, identify a social issue. In two pages, address the following:

1) what is your social issue of interest and why?;

2) how does the social issue negatively impact people?;

3) why do you think that this social issue does not get resolved?; and 4) Identify some best practices or interventions for addressing the particular social issue.