________ occurs when price and quantity fixing agreements among producers are uncleared a) tacit collusion b) oligopoly c)monopolistc competition d)strategic collusion
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________ occurs when price and quantity fixing agreements among producers are uncleared
a) tacit collusion
b) oligopoly
c)monopolistc competition
d)strategic collusion
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- COURSE: MICROECONOMICS LEVEL 2 COURSE: MICROECONOMICS LEVEL 2 Consider a company A operating in an oligopoly which has a market share of 20% and a unit cost of $50. It currently sells at a price (P) of $52.9 with a price elasticity of demand of -3.5. This company will merge with company D, so that market share will reach 50%. Estimate impact of this operation on selling price under 2 scenarios:(a) With economies of scale, given the merger. Cost reduction of 15%.b) Without economies of scale, constant cost of 50%.c) How much does market power of merged company change, considering with and without economies of scale?Monopolies are generally economically inefficient if ________ exist(s). * A) a natural monopoly B) persistent economies of scale C) only a few firms D) no natural monopoly10
- do fast.all answersProblem 11-21 (algo) Suppose the European Union (EU) was investigated and proposed a merger between two of the largest distillers of premium Scotch liquor. Based on some economists' definition of the relevant market, the two firms proposing to merge enjoyed a combined market share of about two-thirds, while another firm essentially controlled the remaining share of the market. Additionally, suppose that the (wholesale) market elasticity of demand for Scotch liquor is -1.2 and that it costs $16.30 produce and distribute each liter of Scotch. Based only on these data, provide quantitative estimates of the likely pre- and postmerger prices in the wholesale market for premium Scotch liquor. Instructions: Do not round intermediate calculations. Enter your final responses rounded to the nearest penny (two decimal places). Pre-merger price: $ Post-merger price: $If a natural monopoly like SMUD, with declining long run ATC, was forced to break up into several small competitive firms, the Price charged by the competitive firms should decrease as the firms become more efficient. Total production for the industry should increase because of the efficiency generated by increased competition.
- Question 45- a) There are 3 firms competing over quantities. The market share of firm 1 is 0.3 and its marginal cost is 1. If the price elasticity of demand is -3, what is the equilibrium price? b) If the share of the other two firms are 0.1 & 0.6 respectively calculate the Herfindahl index.COURSE: MICROECONOMICS - MONOPOLY We appreciate a perfect competition market where there is a predetermined limit number of firms with 20 total firms.Each has the cost function such that: CTi = qi2 + 4qi + 3 where qi indicates numbers of firms (i = 20) The demand in the market is: Q = 100 - 4pa) What is the individual supply of each firm? (answered)b) What is the supply of the whole industry? (answered)c) Obtain the market equilibrium (answered)In the case where a new firm intended to enter a monopolist's market:d) What kind of legitimate entry barriers can the firm face understanding the nature of the market it wishes to enter?e) What type of anticompetitive barriers could the firm already in the market present? NOTE: a), b) and c) for perfect competition have been already answered by a tutor; please answer d) and e) questions
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