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The following equation represents the daily market demand for crude oil. Q = 10, 000,000 - 500,000 P Suppose there are four oil producers in the crude oil market, A, B , C and D. The marginal cost of A is $10. The marginal cost of B is $12. The marginal cost of C is 13. The marginal cost of D is $15. Note that in all three cases MC =AVC. (Hint: Do not be concerned about fixed costs in this problem; assume TFC = zero for all producers.) a. If collusion is not allowed, what kind of market arrangement do you think is likely to result from competitive interactions among these four firms? b. Now suppose collusion is allowed. Is it possible for these firms to form an effective cartel? c. Calculate the profits of these firms in either case (a and b).
suppose that a new law requires every firm to provide its workers with free parking spaces. these spaces are worth 200
A piece of equipment that was purchased two years ago for $59,000 was expected to have a useful life of 5 years with a $5,000 salvage value. Since its performance was less than expected, it was upgraded for $20,000 one year ago. Increased demand now ..
q1. a fenway park home of the boston red sox seating is limited to 39.000. hence the number of tickets issued is fixed
Explain how do these two relate to each other in the Circular Flow Economy and to the Government and Foreign Sector components.
Assume an economy with a total population equal to 1. Individuals can only be employed or unemployed. Suppose this economy’s steady-state unemployment rate is 5%. We know that workers can lose their jobs and become unemployed with probability 4%. Wha..
You plan to buy a common stock and hold it for one year. You expect to receive both $1.50 from dividends and $26 from the sale of the stock at the end of the year. If you wanted to earn a 15 percent rate of return, what is the maximum price you would..
An investment that brings $40,000 two years from today is worth what present value in terms of today’s money with an interest rate of 25%?
Which of the following does NOT determine the long-run level of real GDP?
What do we know about the proportion of peanut butter to jam held by Bob in any equilibrium? If Adam held all of the peanut butter in the initial endowment, is it possible that he end up with nothing in the equilibrium?
Draw the Cost effectiveness Frontier - What concept can you attribute this change in treatment choice before and after insurance? Explain.
Research Project. Choose a company in which you are interested. Search to find out what new products that company has brought to market in the past year or two. Are those products truly new innovations, or are they simply extensions of existing produ..
What common assumptions guide the Thucydides and Procopius readings regarding how a historian should chronicle a plague? What different assumptions do they possess about both human behavior and the role divine forces play in human history? How do bot..
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