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Assume that the market for wind turbines is a Bertrand oligopoly with two producers: General Electric (an American company) and Nordex (A German company). The U.S. market demand for wind turbines is given below. The marginal cost for each firm is $80,000. There are no costs of shipping turbines from one country to the other.P=100,000−20Q
1. What will be the equilibrium price and quantity of turbines produced and sold by each company if there is free trade? How much profit will each firm earn?
2. Suppose that the German government agrees to voluntarily limit exports of wind turbines to the United States to 500 units. How many turbines will General Electric sell in the United States and what price will it charge? How much profit will each firm earn?
Ngela owes $500 on a credit card and $2,000 on a student loan. The credit card has a 15 percent annual interest rate and the student loan has a 7 percent annual interest rate. Her sense of loss aversion makes her more anxious about the larger loan. S..
A new tax on airline tickets has raised concerns the European airline traffic will fail. Show the effect on airline ticket prices and quantity demanded. Show the shift of supply and/or demand curves and explain why the curve(s) shifted.
q. 1. who were the three adm executives who were sentenced to prison for this little escapade? is there anything unique
Explain why physician groups and health service workers’ unions prefer stricter licensure requirements rather than cost control efforts from legislators. What are the most difficult aspects of the Coase Theorem in solving a problem like spread of a d..
Kendra Enterprises has never paid a dividend. Free cash flow is projected to be $80,000 and $100.000 for the next 2 years, respectively; after the second year, FCF is expected to grow at a constant rate of 8%. The company’s weighted average cost of c..
Suppose that John Smith gets promoted to a job that causes two changes to occur simultaneously: John earns a higher wage, and a safer environment causes his health to depreciate less rapidly. How would these two changes together affect John’s desired..
Suppose that Kiribati can produce 1000 tons of breadfruit or 500 tons of fish, and that Tuvalu can produce 750 tons of breadfruit or 1875 tons of fish. What is the opportunity cost of 1 unit of fish in Kiribati? Which country has a comparative advant..
In 1996, the drug Prilosec became the best-selling anti-ulcer drug in the world. Given the fact that the drug was the most effective among all other competing drugs, managers at Prilosec initially set price at a 400 percent markup over cost in order ..
Explain how much consumer surplus exists in this market. If a $2.00 excise tax is levied on this good what will happen to equilibrium price and quantity.
In his 1962 book "Economic Development," Galbraith presents eight assumptions about the causes of poverty. What are the eight assumptions?
In 1986, the US congress enacted a rule that required railroads to disclose all their contractual terms with grain shippers. The result was that railroad shipping rates fell for routes where there was substantial competition with barges, but railroad..
Talk about the ramifications involved in conducting business under both/either scenario.
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