Discussion help please

Jul 25th, 2015
Price: $5 USD

Question description

Please No plagiairism. EACH answer must be 75-100 words. not 75-100 words all together. Please also have the question above the answer, so I know with answer goes to which question.

1.  Describe the monitoring problem. How does an incentive-compatible contract address the monitoring problem?

2.  Define X-inefficiency. Can a perfect competitor be X-inefficient? Explain why or why not.

3.  How do network externalities increase the winner-take-all nature of a market?

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