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A firm, which is the only supplier of a good located in a particular town, is accused of engaging in anticompetitive tactics in order to protect its monopoly position in that town. As part of its defense, the firm has argued that the geographic antitrust market includes a larger neighbouring city with multiple firms. The defense offers two pieces of evidence in support of its larger geographic market: (1) the correlation coefficient between the price in the town and the nearby city is 0.95, looking at weekly prices for recent years, and (2) a recent survey of consumers in the town, conducted by the firm's marketing branch, revealed that a 5% increase in prices above current levels would be unprofitable because too many consumers would switch to purchasing from the city. In this larger geographic market, the firm's market share is low. Therefore, the defense claims, the firm does not have the market power necessary to carry out anticompetitive practices or to make them worthwhile. Offer a critique of the firm's arguments regarding market definition. Can we conclude that the relevant geographic market is larger than the town based on the evidence presented?
Explain the effect of such a shock on the equilibrium of the DAD-DAS model - Suppose that at time t-1 inflation is zero and there were no shocks in the economy.
Intra-industry trade comprise countries exporting and importing the same or very similar goods. Why would countries export and import the same or similar products.
make the costs of compliance and non-compliance with regional trading bloc rules and regulations.
State are you for or against free trade. Are you for or against NAFTA? What is the economic basis for trade
Do incumbent politicians utilize their power and influence to get re-elected. Is this a "valid" use of political power. How does this impact business firms. Please discuss.
What is the quantity produced if L = 1,000 and K = 100? Image text transcribed for accessibility: A firm that manufactures office desks has the following production function in the short run: Q = 400 L0.8 K0.5 where Q = the quantity of chairs prod..
Determine which best supports reason for why the use of teams by Anacorp Corporation is considered critical to its ability to develop and commercialize innovative products?
If the elasticity of US exports with respect to the real exchange rate is very low, will this increase in private saving have a large or small effect on the U.S. real exchange rate
Explain the impacts of an expansionary fiscal policy such as a tax cut on the levels GDP, Consumption, Investment, interest rate and unemployment and price.
Derive the equation for output per effective worker y = Y/EN = f(k), where k equals the amount of capital per effective worker. or calculate the steady state levels for each.
Explain what accounts for the Hong Kong Monetary Authority behaving differently than the other central banks in emerging Asia.
The employees of Abs “R” Us, which includes 12 fitness parlors in and around the metro area, feel they can improve the performance of the company.
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