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Respond to the following questions:
-You have just been hired by a company as an economist and strategic planner. Your company has asked you to generate a report explaining the consequences of the market structure in which the company operates. Assume that the market structure is an oligopoly. Explain to management how this structure could influence decision making, especially pricing, output, advertising, and the use of resources in an oligopolistic market, as compared to other market structures.
-Outline what the kinked demand curve model of oligopoly seeks to explain. What are the major points of this theory? How does the kinked demand theory of oligopoly differ from other theories in terms of explaining the behavior of companies in an oligopoly? Explain the role of your company if it is considered the dominant company in the industry in terms of price leadership. Suggest and justify whether any other role should be recommended.
-Price discrimination is the practice of charging different customers or groups of customers different prices for the same product. Why does price discrimination occur? Describe the conditions that must be present for price discrimination to occur. Analyze why and how price discrimination is practiced in the following markets:
Airline tickets
Wholesale vs. retail markets
Movie theater tickets
Discount coupons
Justify your choices with valid assumptions and logically driven arguments. Cite any sources using APA format
What if the government needs to purchase a single, large piece of property in order to provide a public good, say, a satellitetracking station? There is only one private owner with whom to deal. And his property is the only one that is suitable for t..
Explain how foreign exchange rates are determined. How do changes in interest rates, inflation, productivity, and income affect exchange rates?
Suppose that MC=4q, where MC is marginal cost. The perfectly competitive firm maximizes profits by producing 10 units of out output. At what price does it sell these units.
The risk-free rate of return is 3.5 percent. Illustrate what is the current value of one call option on this stock if the exercise price is $40.
On a graph where the total income is on the horizontal axis and the number of tasks is on the vertical axis, why does the piece rate appear as a straight line? Show that if the piece rate goes up, the line become flatter.
Tammy Hall is the mayor of a large U.S. city. She has just established the Office of Window Safety. Because windows sometimes break and spray glass shards, every window in the city will now have to pass an annual safety inspection.
If you were a manager in a tobacco company, analyze the elasticity of demand for tobacco products. Evaluate the factors involved in making decisions about pricing tobacco.
Assume you and your roommate have started a bagel deliver service on campus. List out some of your fixed costs and discuss why they are fixed.
How do a company's goals, constraints, incentives and market rivarly affect its economic decision-making? To what extent does a Christian have different goals, constraints, and incentives compared to non-Christians?
How has globalization influenced recent U.S. foreign policy? Do you think the American response to globalization has had a positive or negative effect on foreign relations?
Why does a portion of Chinese residents' expenditures on goods and services exported from the United States to China likely add to the earnings of Chinese firms and those firms' managers and workers?
Assume that you borrow $15,000 for five years (annual payments) at a market rate of 5%. Assuming that inflation is 3.5%, what would the equivalent equal annual payment be in constant dollars? What is the Actual dollar amount of a $15,000 constant dol..
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