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A firm, which is the only supplier of a good located in a particular town, is accused of engaging in anticompetitive tactics in order to protect its monopoly position in that town. As part of its defense, the firm has argued that the geographic antitrust market includes a larger neighbouring city with multiple firms. The defense offers two pieces of evidence in support of its larger geographic market: (1) the correlation coefficient between the price in the town and the nearby city is 0.95, looking at weekly prices for recent years, and (2) a recent survey of consumers in the town, conducted by the firm's marketing branch, revealed that a 5% increase in prices above current levels would be unprofitable because too many consumers would switch to purchasing from the city. In this larger geographic market, the firm's market share is low. Therefore, the defense claims, the firm does not have the market power necessary to carry out anticompetitive practices or to make them worthwhile. ----Offer a critique of the firm's arguments regarding market definition. Can we conclude that the relevant geographic market is larger than the town based on the evidence presented?
Select 2 companies in the geographical location you live in and find out if they price discriminate. Why do these two companies price discriminate?
In the context of the IS-LM model, what is the effect of each of the following on equilibrium output and the real interest rate? Explain why these effects occur and show graphically.
Research monetary and fiscal rules that have affected a particular chosen industry and determine two sources to help you answer following questions about the industry you select.
Draw the per capita production function and supporting curves to capture the economy and provide a brief economic explanation of the consequence of lower savings on long- term growth rates.
Compute the own price elasticity of demand at a price of $4. What is the inverse demand curve for the radio station
Using a long-run Phillips curve, what is the effect on the unemployment rate if the inflation rate rises and people expect the rise.
Ceteris paribus, coffee Brand X and coffee Brand A are substitutes in consumption. The price of coffee Brand X falls. a. What happens to the demand for coffee Brand A b. What happens to the demand for coffee Brand X
How does the free rider problem explain why telephone companies are usually successful in getting permission to raise their rates?
Mary's Fence Post Factory faces a perfectly elastic demand curve for fence posts at a price of $39 per post. Let Q represent the number of fence posts that Mary makes. Mary's total cost and marginal cost curves for making fence posts are: TC = 4,0..
Explain the level of resource misallocation comparing the outcome under the Monopoly situation with the outcome under perfect competition
Assume there are only two automobile companies, Ford and Chevrolet. Ford believes that Chevrolet will match any value it sets, but Chevrolet too is interested in maximizing profit.
After two years the City of Plentiful is faced with a fiscal crisis and decides that it wants its garbage back.
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