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Question: One of the world's most successful cartels has been the Central Selling Organization (CSO), which controls about threequarters of the world's diamonds. This collusive oligopoly has kept diamond prices high by restricting supply. The CSO has also promoted the general consumption of diamonds through advertising and marketing. New supplies of diamonds have been found in Canada and Russia. These new mines, which are outside the direct control of the CSO, want to sell their diamonds on the open market.
a. What would you predict will happen in the market for diamonds if these new mines do not cooperate with the cartel?
b. What do you think will happen to CSO diamond advertising?
When we think of entrepreneurship, we often think of small, start-up firms. Describe how a large corporation in an established industry can be "entrepreneurial" and discuss how Peng's entrepreneurial strategies apply in this situation.
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Suppose that on January 1 you deposit $100 in an account that pays a nominal interest rate of 11.33463%, with interest added daily. How much will you have in your account on October 1, or 9 months later?
The variety of Riverside Ranger logo T-shirts includes 12 different designs. Setup between designs
If a poor country and a rich country trade with each other, without any restrictions, and the rich country gains $50 million, while the poor country only gains $5 million, is the rich country exploiting the poor country. Please describe in detail.
Give a numerical example to show that a monopolist's marginal revenue can be upward-sloping over part of its range. Hint: The price on the demand curve is the producer's average revenue. Think of the graphic that showed the possibility of declining..
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Summarize the economist's key philosophies
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The university has built a new parking garage. There is always an available parking spot, but it costs $1 per day. Before the new garage was built, it usually took 15 minutes of cruising to find a parking space.
1. in the article below michigan is offering financial incentives to improve health. using economic models demonstrate
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