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Proctor and Gamble (P&G) and the Lever Co. decide to form a laundry detergent cartel for future sales in Europe. Lever is more efficient than P&G.
a) illustrate graphically how the detergent cartel would set price and output.
b) Do you think this laundry detergent cartel with P&G and Lever will be stable for the next 5 years?
c)In March 2014 the Purex Chemical Co. Decides to enter the laundry detergent the market in Europe and is invited to join the Cartel.
How would this very efficient new producer affect the European Cartel agreement? Modify your graph to show the change. Explain
Individual retirement accounts, or IRAs, were established by the U.S. government to encourage saving. An individual who deposits part of current earnings in an IRA does not have to pay income taxes on the earnings deposited, nor are any income taxes ..
At a management luncheon, two managers were overheard arguing about the following statement: "A manager should never hire another worker if the new person causes diminishing returns." Is this statment correct
we know that when an economy starts out at long-run equilibrium and the government cuts taxes, this will result in inflation int he long run. what happens if the economy is producing a level of output below the full employment (long run equilibriu..
a perfectly competitive firm and industry in long-run equilibrium. A. How do you know that the industry is in long run equilibrium B. Suppose that there is an increase in demand for this product. Show and explain the short-run adjustment process fo..
Find the Herfindahl index for the industry composed of a) three firms-one with the 70 percent of the market, and the other two with 20 and 10 percent of the market, respectively; b)one firm with a 50 percent share of the market and 10 other equalized..
why Banks are exposed to interest rate risk primarily. what does the Federal funds market involves.
a television show called extreme couponning features people who go to extreme lengths to collect and use discount
The marginal product of labor (measured in units of output) for Expando Corp. is given by MPN = A(400-N) where A measures productivity and N is the number of labor hours used in production. Suppose the price of output is $.150 per unit.
Will price be higher or lower under such an agreement in long-run equilibrium than would be the case if firms didn't collude. Even in firms in a monopolistically competitive market collude successfully.
Calculate the equilibrium price and quantity. Sketch the supply and demand curves on a graph indicating the equilibrium.
A sales tax of $1 per unit of output is placed on a particular firm whose product sells for $5 in a competitive industry with many firms.
Critical Thinking: Last year Congress passed a bill creating a new national health care system that is not yet fully explained. What principles of economics relate to this decision
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