Provide a real-world example of a market

Assignment Help Microeconomics
Reference no: EM13308998

6. Provide a real-world example of a market that approximates each oligopoly setting, and explain your reasoning.

a. Cournot oligopoly

b. Stackelberg oligopoly

c. Bertrand oligopoly

14. You are the manager of the only firm that specializes in exporting fish products to Japan.Your firm competes against a handful of Japanese firms that enjoy a significant first-mover advantage.Recently, one of your Japanese customers has called to inform you that the Japanese legislature is considering imposing a quota that would reduce the number of pounds of fish products you are permitted to ship to Japan each year.Your first instinct is to call a trade representative of your country to lobby against the import quota.Is following through with your first instinct necessarily the best decision?Explain.

15. The opening statement on the website of the Organization of Petroleum Exporting Countries (OPEC) says, “…OPEC’s eleven numbers are all developing countries whose economies are heavily reliant on oil export revenues.They therefore seek stable oil prices that are fair and reasonable for both producers and consumers of oil.”To achieve this goal, OPEC attempts to coordinate and unify petroleum policies by raising or lowering the collective oil production.However, increased production by Russia, Oman, Mexico, Norway, and other non-OPEC countries has caused the price of crude oil to fall dramatically in recent years.To achieve its goal of stable and fair oil prices, what must OPEC do to maintain the price of oil at its desired level?Do you think this will be easy for OPEC to do?Explain.

16. Semi-Salt Industries began its operation in 1975 and remains the only firm in the world that produces and sell commercial-grade polyglutamate.While virtually anyone with a degree in college Chemistry could replicate the firms formula, due to the relatively high cost, Semi-Salt has decided not to apply for a patent.Despite the absence of patent protection, Semi-Salt has averaged accounting profits of 5.5% on investment since it began producing polyglutamate—a rate comparable to the average rate of interest that large banks paid on deposits over this period.Do you think Semi-Salt is earning monopoly profits?Why?

Reference no: EM13308998

Questions Cloud

The importance of a strategic plan for the success : Develop an argument supporting the importance of a strategic plan for the success of the defined business
Concept of corporate social responsibility : 1) Students will present their own definition/concept of Corporate Social Responsibility (CSR) and compare/contrast it with the pyramid of CSR
Strategic planning session : As a newly promoted Vice President, your CEO has invited you to participate in this year's upcoming Strategic planning session. You know that this will be high-level type planning you have done in the past. To prepare for this, you have done research..
An inspiring leader : You were recently hired as a new manager in a company. You are fresh out of business school and have few management skills. More importantly, you know that your role will also involve inspiring your department's employees. You have been told that the..
Provide a real-world example of a market : The opening statement on the website of the Organization of Petroleum Exporting Countries (OPEC) says, “…OPEC’s eleven numbers are all developing countries whose economies are heavily reliant on oil export revenues.They therefore seek stable oil pric..
The organisation''s innovation management structure : Describe the strengths and weaknesses in the organisation's innovation management structure.
What is the total planned expenditures : Figures from a consumption function table in billions of dollars:Disposable Income 200 Planned investment 50Consumption 250 Government Spending 30Net Exports 10Taxes 30Question 1: What is the total planned expenditures?Question 2: What is unplanned i..
Leadership interview & analysis : Leadership Interview & Analysis
Write about the history of a specific stadium or arena : Write about the history of a specific stadium or arena from when the facility was being proposed until it was finally built and then what happened thereafter through the facility's life. Search the Internet or scholarly database for this information...

Reviews

Write a Review

 

Microeconomics Questions & Answers

  What monetary policies do you think caused the crisis

What monetary policies do you think caused the crisis and what were the effects of the policies implemented in reaction to the crisis

  Determine what is the total social welfare

Suppose that the gas utility operates as a pure monopoly, setting price and output so as to maximize profit. What P and Q will be chosen What will be the total revenue, total cost, profit, and consumers surplus at this price

  How an increase in the discount rate is a signal

Assuming an economy is initially at potential output, an expansionary monetary policy will: A) not affect output in the long run. B) not affect output in either the short run or the long run. C) affect output, but only in the long run. D) affect o..

  Determine the least cost size

Determine the least cost size and number of the milk processing plant using the equation and Derive the marginal cost for the two products 1&2 and show that it is a constant.

  Identify who wins and who loses if regulation was adopted

some companies, referred to as patent trolls, whom purchase these patents in hopes of making money by enforcing patents against alleged infringers. Determine the impact of government regulation against patent trolls. Identify who wins and who lose..

  Explain how the gasoline has an inelastic demand

The mayor of Wappingers Falls was told by your Microeconomics class that gasoline has an inelastic demand and raising the price of an inelastic product raises revenue. The mayor wants to raise town revenues and decides to raise taxes

  Analyze the potential downfalls of any team effort

Describe a company you would like to start and determine which form of ownership would be most appropriate given your current financial status. Explain your rationale.

  Distinguish the two forms of defamation

Is First Amendment free speech protection only afforded to the spoken word? Explain. 2. The 2007 PwC Report suggested three things companies could do to minimize accounting fraud. Discuss these suggestions. 3. Describe the three types of negligence c..

  Describing profit maximizing output

Randy Smith us hired as a consultant to a firm producing ball bearings. This firm sells in two distinct markets, each of which is completely sealed off from the other. What price should managers charge in each market?

  Describe explicit costs

Joanne has decided to buy the Hummer and set up a commuter service between Boston and Lowell. There are 1000 people who will pay $400 a year for the commuter service; $280 from each person goes for gas, maintenance, insurance, depreciation etc.

  Discuss static effects and dynamic effects of customs unions

Define world allocative efficiency as it relates to regionalism and multilateralism. Discuss the static effects and dynamic effects of customs unions.

  Rmses for moving average and exponential smoothing forecasts

Forecast the data for 2000 again in problem 1 with exponential smoothing with w=0.3 and w=0.7.  Compare RMSEs for moving average and exponential smoothing forecasts to answer if this is a better forecast than the moving average?

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd