Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
I. How would you characterize the market for crude oil production? Explain your answer.
II. Explain the two kind of cooperative behaviour or models that may exist in this kind of industry. Enumerate the differences between the two models, including the conditions for success and failure for each type of models.
III. Explain the long run profit behaviour of firms in this kind of industry.
Note: You must explain your answer in detail using economic theory and principles for maximum point.
An industry consists of three firms with identical costs C (q)18q +q2. What is the industry equilibrium (price, output and profits) if the firms have Cournot beliefs?
What are the firm's fixed costs? What is the firm's marginal cost? Now suppose other firms in the market sell the product at a price of $10.
For each of the following pairs of goods, would you expect the cross-elasticity of demand to be positive or negative? Large (in absolute value) or small? Defend your answers:
A Monopolist is deciding how to allocate output between two markets. The two markets are separated geographically. Demand and marginal revenue for the two markets are given by:
Explain why a monopolist will never set a price (and produce the corresponding output) at which the demand is price-inelastic.
Explain the trade-offs between any three of these options. In other words, what will you gain, and what will you have to give up if you choose each of the three options?
Determine the profit maximizing level of output and price. Is this long run equilibrium? According to the theory of monopolistic competition, do you expect entry or exit taking place in this industry?
Which of the followings tends to occur during recessions Cyclical unemployment tends to fall The stock markets tends to surge (experience a rapid rise in prices) Interest rates tend to fall Gross Domestic Product rises Consumer ..
Suppose that because of the ongoing financial turmoil banks become more prudent: that is, other things equal, banks want to hold more excess reserves and make fewer loans.
The demand and supply curves for gasoline (in billions per year) are given below. Using the equations, find the initial equilibrium price and the quantity in the market for gasoline.
In article on the steel industry, The Wall Street Journal noted that as steel prices were falling, steelmakers were not cutting production
Suppose that natural real GDP is constant. For every 1 percent increase in the rate of inflation above its expected level, firms are willing to increase real GDP by 2 percent.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd