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You have just been hired by a company as an economist and strategic planner. Your company has asked you to generate a report explaining the consequences of the market structure in which the company operates. Assume that the market structure is an oligopoly. Explain to management how this structure could influence decision making, especially pricing, output, advertising, and the use of resources in an oligopolistic market, as compared to other market structures.
Outline what the kinked demand curve model of oligopoly seeks to explain. What are the major points of this theory? How does the kinked demand theory of oligopoly differ from other theories in terms of explaining the behavior of companies in an oligopoly? Explain the role of your company if it is considered the dominant company in the industry in terms of price leadership. Suggest and justify whether any other role should be recommended.
Price discrimination is the practice of charging different customers or groups of customers different prices for the same product. Why does price discrimination occur? Describe the conditions that must be present for price discrimination to occur. Analyze why and how price discrimination is practiced in the following markets:
o Airline tickets
o Wholesale vs. retail markets
o Movie theater tickets
o Discount coupons
Justify your choices with valid assumptions and logically driven arguments.
Explain how each of the following would affect the equilibrium real wage, and equilibrium level of employment. a. A relaxation of immigration laws which leads to a large increase in the number of immigrants entering the country.
Elucidate foreign demand for dollars as well as the international value of the dollar.
Draw the PPF. If new technology in computer production is invented and adopted, what will happen to the PPF. Find the opportunity cost of first 4 units of computer.
The federal budget: economy What is the impact of "G" policy ?
The consumption taxes the government collects in a given period are not restricted to be levied on consumption from only in that period.
Is this type of bonus structure in the interest of the company? Use theoretical and graphical insights from chapter five of the textbook to explain your reasoning.
Discuss within your Learning Team how and why the U.S.'s deficit, surplus and debt
If all the assumptions of perfect competition hold, why would firms in such an industry have little incentive to carry out technological change or much research and development? What condition would encourage research and development in competitive i..
What is the arc elasticity of demand for the London Times and what happened to income as a result of the decline in the price?
Show the results of a Fiscal Policy action that will bring this economy to full employment level of Real GDP. Explain the effect on the fiscal budget and show the effect on the Money Market and the Investment Market.
What is the size of the GDP gap? (assuming that equilibrium real GDP is $800 billion, potential real GDP is $900 billion, the MPC is 0.8 and the MPI is 0.40)
Illustrate what are the major performance goals that we set for the economy, and how do we measure the performance?
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