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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. 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?
Evaluate the price falls all of these firms will be unable to stay in business and the industry will disappear by using a graph.
How is each of the following events likely to shift the supply curve or the demand curve for fast-food hamburgers in the United States? The number of teenagers in the economy falls due to population aging. Mad cow disease, a rare but fatal medical co..
An individual must decide whether or not to pursue a business opportunity. If he does pursue the opportunity, then he will get a $20 profit if the business is successful and a $10 loss if the business fails. Apply the maximin and minimax regret crite..
Explain the entities affected by industrial regulation in terms of market structure. Explain why industrial regulation affects those entities you identified.
currently at a price of 2 each 250 popsicles are sold per day in the perpetually hot town of rostin. consider the
You would like to save money to buy a new car that costs $10,000, but currently only have $8,000 and you know you won’t have any further excess savings to contribute more to it. You have available to you a fairly good savings account which pays conti..
Assume an American company sells $10 million in goods to a German firm. The American company will receive less than $10 million in revenues if (assume no transactions to prevent exchange rate risk):
Briefly explain regulation in the case of a natural monopoly. Provide 3 common examples of regulation. Briefly discuss the benefits of privatization set out in the text and explain what is required for privatization of a nationalized asset in order t..
Illustrate what is the minimum number of words per minute a student would have to read in order to get the award
Enter a whole number as your answer, if you match up pairs of buyers and sellers so as to maximize the total surplus of all transactions.
Illustrate what are some criteria which Rollerblade should use to select countries to enter also. Illustrate what three or four countries meet these criteria best also are the most likely consolidates.
q.south korea can produce a maximum of 600 million toaster ovens or 900 million tons of rice per year. the u.s. can
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