Read case 1 and case 2 below about fixing price scheme. Analyze the differences between two cases. • CASE 1: Unilever and Procter & Gamble fined £280m for price fixing CASE 2: The Debate Over Canada Bread's $50 Million Price Fixing Fine
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![Read case 1 and case 2 below about fixing price scheme. Analyze the differences between two cases. • CASE 1: Unilever
and Procter & Gamble fined £280m for price fixing CASE 2: The Debate Over Canada Bread's $50 Million Price Fixing
Fine](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F98c94479-3706-49f9-a8fc-ebf2d351e5e7%2Fd1257a69-432c-4223-b393-c2d020acc625%2Fc36h7qf_processed.jpeg&w=3840&q=75)
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- Star wars coffee mugs are traded in a competitive world market with a price of R180 per cup. Unlimited quantities are available for import into South Africa at this price. On average 10 000 kg are traded each month. The elasticity of demand has been estimated at -0.81 and elasticity of supply at 3.51. Derive the demand equation for the star wars coffee mug. . . A. Qd = 12 800 - 45P B. Qd = 15 200 - 35P C. Qd = 18 100 - 45P D. Qd = 20 000 - 50P Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Please no written by hand solutions Question 5 If the Nigerian government were to enforce a price floor of US $20... a) Both Starlink and FiberOne would be out of business b) More Nigerians would have access to the internet c) There would be no changes experienced by both consumers as well as the internet services providers d) There would be more demand for internet services than supply.Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. yOU will get upvote for sure
- Consider a town in which only two residents, Larry and Megan, own wells that produce water safe for drinking. Larry and Megan can pump and sell as much water as they want at no cost. For them, the total revenue equals profit. The following table shows the town's demand schedule for water. Price Quantity Demanded Total Revenue (Dollars per gallon) (Gallons of water) (Dollars) 6.00 0 0 5.50 45 $247.50 5.00 90 $450.00 4.50 135 $607.50 4.00 180 $720.00 3.50 225 $787.50 3.00 270 $810.00 2.50 315 $787.50 2.00 360 $720.00 1.50 405 $607.50 1.00 450 $450.00 0.50 495 $247.50 0 540 0 Suppose Larry and Megan form a cartel and behave as a monopolist. The profit-maximizing price is ______ per gallon, and the total output is_____ gallons. As part of their cartel agreement, Larry and Megan agree to split production equally. Therefore, Larry's profit is _____, and Megan's profit is_____. Suppose that Larry and Megan have been successfully…Typed plz take care of plagiarismConsider a town in which only two residents, Jacques and Kyoko, own wells that produce water safe for drinking. Jacques and Kyoko can pump and sell as much water as they want at no cost. For them, total revenue equals profit. The following table shows the town's demand schedule for water. Price Quantity Demanded Total Revenue (Dollars per gallon) (Gallons of water) (Dollars) 6.00 0 0 5.50 45 $247.50 5.00 90 $450.00 4.50 135 $607.50 4.00 180 $720.00 3.50 225 $787.50 3.00 270 $810.00 2.50 315 $787.50 2.00 360 $720.00 1.50 405 $607.50 1.00 450 $450.00 0.50 495 $247.50 0 540 0 Suppose Jacques and Kyoko form a cartel and behave as a monopolist. The profit-maximizing price is per gallon, and the total output is gallons. As part of their cartel agreement, Jacques and Kyoko agree to split production equally. Therefore, Jacques's profit is , and Kyoko's profit is . Suppose that Jacques and Kyoko have been successfully…
- Consider a town in which only two residents, Larry and Megan, own wells that produce water safe for drinking. Larry and Megan can pump and sell as much water as they want at no cost. For them, total revenue equals profit. The following table shows the town's demand schedule for water. Price Quantity Demanded Total Revenue (Dollars per gallon) (Gallons of water) (Dollars) 6.00 0 0 5.50 45 $247.50 5.00 90 $450.00 4.50 135 $607.50 4.00 180 $720.00 3.50 225 $787.50 3.00 270 $810.00 2.50 315 $787.50 2.00 360 $720.00 1.50 405 $607.50 1.00 450 $450.00 0.50 495 $247.50 0 540 0 Suppose Larry and Megan form a cartel and behave as a monopolist. The profit-maximizing price is per gallon, and the total output is gallons. As part of their cartel agreement, Larry and Megan agree to split production equally. Suppose that Larry and Megan have been successfully operating as a cartel. They each charge the monopoly price and sell half of the…Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Consider a town in which only two residents, Hubert and Kate, own wells that produce water safe for drinking. Hubert and Kate can pump and sell as much water as they want at no cost. For them, total revenue equals profit. The following table shows the town's demand schedule for water. Price Quantity Demanded Total Revenue (Dollars per gallon) (Gallons of water) (Dollars) 6.00 0 0 5.50 45 $247.50 5.00 90 $450.00 4.50 135 $607.50 4.00 180 $720.00 3.50 225 $787.50 3.00 270 $810.00 2.50 315 $787.50 2.00 360 $720.00 1.50 405 $607.50 1.00 450 $450.00 0.50 495 $247.50 0 540 0 Suppose Hubert and Kate form a cartel and behave as a monopolist. The profit-maximizing price is____per gallon, and the total output is_____gallons. As part of their cartel agreement, Hubert and Kate agree to split production equally. Therefore, Hubert's profit is _____, and Kate's profit is______. Suppose that Hubert and Kate have been successfully…
- Consider a town in which only two residents, Raphael and Susan, own wells that produce water safe for drinking. Raphael and Susan can pump and sell as much water as they want at no cost. For them, total revenue equals profit. The following table shows the town's demand schedule for water. Price Quantity Demanded Total Revenue (Dollars per gallon) (Gallons of water) (Dollars) 3.60 0 0 3.30 35 $115.50 3.00 70 $210.00 2.70 105 $283.50 2.40 140 $336.00 2.10 175 $367.50 1.80 210 $378.00 1.50 245 $367.50 1.20 280 $336.00 0.90 315 $283.50 0.60 350 $210.00 0.30 385 $115.50 0 420 0 Suppose Raphael and Susan form a cartel and behave as a monopolist. The profit-maximizing price is _______ per gallon, and the total output is __________ gallons. As part of their cartel agreement, Raphael and Susan agree to split production equally. Therefore, Raphael's profit is , and Susan's profit is ___________ . Suppose that Raphael and…Price(per bottle) Quantity supplied Normal timesquantity demanded Hurricanequantity demanded $6 100 25 75 $5 85 35 85 $4 70 45 95 $3 55 55 105 $2 40 65 115 $1 25 75 125 Concerned with citizen complaints of price gouging during past hurricanes, Florida's state government passes a law setting a price ceiling for a bottle of water equal to the market equilibrium price during normal times. After all, it seems unfair that sellers of water gain because of a hurricane. During a hurricane, there would be a shortage of bottles of water. Without the antiprice gouging law, consumers would have to pay $ more than the ceiling price, but they would be able to buy more bottles of water.10. Which of the following statements about OPEC and the oil market during the 1970s and 1980s is (are) correct? (x) Over the long run consumers responded to higher gasoline prices with greater conservation of gasoline and as a result the demand for OPEC products became less elastic. (y) OPEC successfully raised the world price of oil in the 1970s and early 1980s primarily due to an inelastic demand for oil and a reduction in the amount of oil supplied. (z) OPEC could not successfully keep the price of oil high over the long run, because producers of oil outside of OPEC responded to the high price by increasing oil exploration and extraction capacity. A. (x), (y) and (z) B. (x) and (y) only (x) and (z) only D (y) and (z) only Е. (y) only
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