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!
Detection of rigged school milk prices. Each year, the state of Kentucky invites bids from dairies to supply half-pint containers of ?uid milk products for its school districts. In several school districts in northern Kentucky (called the ‘‘tri-county'' market), two suppliers- Meyer Dairy and Trauth Dairy- were accused of price-?xing, that is, con- spiring to allocate the districts so that the winning bidder was predetermined and the price per pint was set above the competitive price. These two dairies were the only two bidders on the milk contracts in the ‘‘tri-county market'' between 1983 and 1991. (In contrast, a large number of different dairies won the milk contracts for school districts in the remainder of the northern Kentucky market- called the ‘‘surrounding'' market.) Did Meyer and Trauth conspire to rig their bids in the tri-county market? If so, economic theory states that the mean winning price in the rigged tri- county market will be higher than the mean winning price in the competitive surrounding market. Data on all bids received from the dairies competing for the milk contracts between 1983 and 1991 are saved in the MILK ?le.
(a) A MINITAB printout of the comparison of mean bid prices for whole white milk for the two Kentucky milk markets is shown below. Is there support for the claim that the dairies in the tri-county market participated in collusive practices? Explain in detail.
(b) In competitive sealed bid markets, vendors do not share information about their bids. Consequently, more dispersion or variability among the bids is typically observed than in collusive markets, where vendors communicate about their bids and have a tendency to submit bids in close proximity to one another in an attempt to make the bidding appear competitive. If collusion exists in the tricounty milk market, the variation in winning bid prices in the surrounding (‘‘competitive'') market will be signi?cantly larger than the corresponding variation in the tricounty (‘‘rigged'') market. A MINITAB analysis of the whole white milk data in the MILK ?le yielded the
The current economic downturn has been called a housing disaster, a financial disaster and a debt crisis, but the simplifying logic of the political season has settled on what is really more a result than a cause.
An advisor to New York City Mayor Bill deBlasio.
1. find the equation of the regression line for the given data. what is the predicted value of y when x -2? what is
a particular firms shareholders demand a 15 percent return on their investment given the firms risk. however this firm
"Suppose Y = $200, C = $140, G = $25, x-m = -5, and T = $25. What is Sp? What is I?" Here is the answer:Yd = Y - T | C + Sp = Y - T | Sp = Y - T - C,Sp = Y - C - T = 200 - 25 - 140 = $35,I = Sp + (T - G) + (x-m) = $35 I = $35 + 0 - 5 = $30
while us gaap requires assets to be valued at the lower of cost or market there is a belief that assets with value
Is the market a mature one or a growing one?
What factors make the fed independent from politicts? Why is there so much political pressure on the fed, despite its independence? How does the fed work to protect itself from political pressure?
imagine you are part of a strategic planning group at a large corporation that is considering developing a new proposed
In developing a subdivision, the developer is required to build the roads to the city building code specifications and to deposit an amount which will allow the city to repave the roads every four years for an indefinite period of time. The costs ..
Using aggregate demand, short run aggregate supply, and long run aggregate supply curves, describe the process through which each government policies will move economy from one long run macroeconomic equilibruium to another.
much has been made of the fact that people dont consistently act with scientific rationality. what is meant
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