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1. A reporter contacts you to comment on a report that manufactureres of widgets are colluding. You study the widget market and estimate that the elasticity of demand at the market price is about -0.5. What do you tell the reporter about the collusion?
2. If the demand elasticity for kiwi fruit is -0.2, would kiwi farmers be better off if tropical storms destroyers 1% of each farmers crops? what does that tell you about the farmers incentive to form a cartel? What might stop them?
3. Explain why market power is generally regarded as necessary for price discrimination
The bank is willing to lend the business this money at a 10 percent interest rate over an eight-year term.calculate the monthly payment, and explain what the business must be able to do with this money.
Discuss the welfare effects of four possible policies: price floor, price support, production quota and voluntary production reduction. Which policy is least efficient? Discuss the differences in the benefits to farmers and the cost to the governme..
Delta Electronic Services is an electrical utility firm serving parts of several states. It is planning replacing some of its machine at generating substations and it trying to decide whether it should replace an older,
The statement best describes the economics of Caribbean South America the people of the region largely survive on subsistence farming while national industries focus on mining and oil drilling.
Assume the government sets a price ceiling below the Pe. Plot this price ceiling price on your diagram. What is the new market situation How will it be decided who can buy the quantity supplied of gasoline
Demand estimation and forecasting and income elasticity of demand
A consumer lives three periods, called the learning period, the working period, and the retirement period. Her income is 200 during the learning period, 800 during the working period, and 200 again during the retirement period. The consumer's initi..
What will be the immediate impact on wages in each of the regions in the short run (before any migration between the North and the South occurs)?
Environmental Protection Agency (EPA) regulations tend to go through many stages of review and approval before they are implemented. Not only do many regulators have to approve a new regulation, but comments and reviews from industry and conservat..
Hypothetically, if Apple and Samsung decided to collude, instead of suing and counter-suing each other, what would the equilibrium prices and quantities be? Assuming each firm keeps the profit from its own market, what are these profits?
like supermarkets, full service department stores like macy's are generally in decline. what factors might these types of stores have in common behind their declines how would you determine which were important and which were not
Select a product or service you use on a regular basis and discuss how the price you pay for that product or service is the result of a market economy. Discuss how the determination of the price for that same product or service would be set in a c..
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