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a. Consider the iron ore production industry, and assume that there are just two producers, FM and BHP. Initially assume that both firms are identical in terms of their production costs. If the two firms can cooperate, what should they do in order to maximise industry profits? How does your answer change if: (i) price discrimination is feasible; or (ii) the two firms have different costs of production? If you are working as a consultant for the ACCC, how would you view cooperation between the two iron ore producers?
b. Now assume that each firm is free to set its production level, but each firm can communicate (via the business press) what they plan to do first. Using an economic model, show that it might be difficult to sustain a cooperative (high-profit) outcome. Given this, how credible do you view any statement on capacity by Twiggy? What do you anticipate would be the impact of the entry of another producer (who we can call RT)?
c. Thinking more broadly than iron ore, how can two oligopolists try to avoid being caught in a competitive outcome? Are any of these relevant for the iron ore industry?
q1. assume which chenyu expects his income to be 50000 per year until she retires. in addition he has accumulated
Enron will be an example of a dysfunctional organization for many years to come. It was clearly a organization riddled with fraud also excess also its conduct drove it into bankruptcy.
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You take $1000 you had kept under your mattress and deposit it in your bank account. If this $1000 stays in the banking system as reserves and if banks hold reserves equal to 20 percent of deposits, by how much does the total amount of deposits in th..
Which plan would you recommend that the Ridpaths choose? Why? What other health coverage options should the Ridpaths consider?
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