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5) The American automobile industry has been an archetypical oligopoly. Show why this statement is true.
6) Describe the cutthroat competitors reasons for not raising or lowering his price, thereby accounting for the kink in his demand curve.The cut-throat competitors' reason for not raising or lowering prices are that if a competitor increases his prices about the existing level, the other competitors will not follow and the firm that has increased the price will lose its market share to other competitors. On the other hand if the firm lowers its prices the competitors will also lower their prices to protect their market share and so the firm that has taken the initiative to reduce the price will only gain slightly by way of quantity sold. What happens in the kinked demand curve model is that the demand curve above the point of equilibrium is very elastic but the demand curve below the point of equilibrium is inelastic. The overall effect of the kinked demand curve is that prices remain rigid.7) What are the basic provisions of a collective bargaining agreement? Explain the differences between meditation and arbitration.
If a industry wants to raise total sales revenue. What happens to the demand for beer if the price of soda falls.
How will each of the following changes in demand or supply affect equilibrium price and equilibrium quantity in a competitive market, that is do price & quantity increase, fall, remain unchanged,
a nation to have commercial relations with other countries
Utilizing a supply and demand analysis, what would placing rent controls due to the number of apartments accessible for low-income individual.
Illustrate what is the adjustment mechanism under a flexible exchange rate regime. Illustrate and explain which curve(s) will shift during the adjustment.
If the Rhine Corporation ignores the possibility that other firms may enter its market, it should set a price of $10,000 for its product, which is a power tool.
A open economy has a marginal propensity to import equal to .2 and a marginal propensity to consume equal to .7. Determine propensity to save of this economy?
Explain how it affects industry's margins forcing them to push up their product sale price etc.
Using diagrams for both industry and a representative firm, illustrate competitive long run equilibrium. Assuming constant costs, employ these diagrams to demonstrate
Elucidate measures the fed should take to reduce the unemployment rate and expand the economy.
Describe the relative impact that every variable has on the demand. What implications do these results have for the firm's marketing and pricing policies.
As the manager of monopoly, you face potential government regulation. Findout the monopoly price and output.
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