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Q1. You have been contracted by an economic consulting firm to determine the economic structure and possible future actions of OPEC, the Organization of Petroleum Exporting Countries.
Q2. 1. Differentiate among a monopoly and an oligopoly, and a cartel.
2. Also illustrate an example of a monopoly, an oligopoly, and a cartel.
3. Confer about the welfare effects of monopolies and oligopolies.
4. Explain how does game theory interacts with firms in oligopolies and cartels?
5. In your own words, illustrate the economic purpose of OPEC. What occurred to oil prices in last 5 years?
6. Amalgamate the information you have gathered and tell the economic consulting firm which actions you think OPEC will take over the next year Based on your answers to the above questions.
Explain why government deficits in more troubled countries, such as Zimbabwe or Iran, tend to produce more inflation than deficits in less-troubled countries, such as Japan or United States.
compute the breackeven output quantities for each alternative. What is the difference between movements along IS and LM curves and shifts of the entire curves.
suppose that a big mac costs 5.00 in new york and sf30 in geneva. suppose further that the price of 1sf on that day is
How we justify assumption that individual demand curves have a negative slope. If y do not, then we may not be able to add them to get market demand.
Both wealth and poor people consume some health care. For the sake of this question, assume that all people pay the same price for healthcare, and all other goods.
From the e-Activity, analyze the elasticity of demand for products within the selected industry relevant to Katrina's Candies. Determine the factors involved in making decisions about pricing these products that you believe to be the most influential..
Suppose household saving is $20, the government spending deficit is $4, and investment is $20.
What plant size will the firm choose in producing. Draw the firm's long-run average-cost curve on the diagram and define this curve.
Suppose that a mysterious in bovine infertility decreases both the population of dairy cows and the population of beef cattle by 50%.
The market for autographs including letters o other documents signed by famous people is subject to frequent large price changes as are markets for most collectables.
If in an economy a $120 billion increase in consumption spending creates $120 billion of new income in the first round of the multiplier process.
Illustrate what mistakes did policymakers make that have kept developing nations from growing more quickly.
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