Suppose Firm A and B have formed a cartel. and . The market demand is MCA 10+ QA = MCB = 4 +QB Qd = 36- P a. What quantity should the cartel produce? b. What quantity should each firm produce?
Q: OC. the buyer and the seller split the tax evenly. O D. it is impossible to say how the tax is split…
A: Demand And Supply Demand refers to the quantities of a commodity that the consumers are ready to…
Q: The federal government “supports” the price of wheat by paying farmers not to plant wheat on some of…
A: Please find the answer below. EQUILIBRIUM PRICE: An equilibrium price, also known as a…
Q: 1. When an auto insurance company is screening, it is A. attempting to keep its private…
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: Maintenance costs of a machine start at $1000 and go down by $100 each year for 5 years. What is the…
A: Above example presents gradient cash flow of maintenance costs , with , G = -100 To find the…
Q: Which of the following does NOT describe the characteristics of public market? I. Opportunity cost…
A: Opportunity cost is the cost of sacrifices made in order to get other alternative. it is the…
Q: Scenario: Consider Country A with a population of 2 million people. In Country A, there are 1.5…
A:
Q: Diminishing returns* characterize all stages of production. eventually occur in all short-run…
A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…
Q: The demand curve and supply curve for one-year discount bonds were estimated using the following…
A:
Q: How many workers are employed? Total population Working age population, non-institutionalised, non-…
A: Given: Total Population = 60 million Working Age Population = 40 million Unemployed people = 1.5…
Q: Let the market supply (representing the marginal private cost) have the form: P(Q) = 1 + 3Q, and the…
A: Given Private marginal cost or market supply curve equation: P(Q)=1+3Q .... (1) Inverse…
Q: Suppose that you have an AEF at a price level of p = $100 given by: AEF = 1,200+ 0.80Y Suppose also…
A: In the Aggregate Expenditure Function (AEF) we have an autonomous part and induced part. The 1,200…
Q: In the income-expenditure model, if autonomous investment decreases by $10 billion, a. planned…
A: The income expenditure model shows the relationship between income and expenditure in an economy. It…
Q: Assume the demand remains the same during pandemic, explain how COVID-19 has influenced the retail…
A: The COVID-19 pandemic had a significant impact on the economy of every nation. Due to lockdown, the…
Q: The Aleutian Company produces two products, Rings and Dings. They are manufactured in two…
A: The overhead rate is a cost allocated to the production of a product or service. Overhead costs are…
Q: 2. The short-run production function for a manufacturer Number of Workers (Quantity of Labor) 1. 2.…
A: Given Quantity of labor The total output of DVD Drives 1 0 2 42000 3 90000 4 135000 5…
Q: List the characteristics of products that have inelastic demand, and give several examples of such…
A: Elasticity is a term used to describe how demand and supply can alter as a result of shifting…
Q: The COVID-19 pandemic has caused an unprecedented increase in savings in many countries around the…
A: As a negative effect of COVID -19 economies have taken a hit on consumer sentiment which directly…
Q: he table shows the demand and supply schedules for alculators.
A: Equilibrium is point where Demand is equal to supply in the market. Equilibrium price = 8 $ where…
Q: List 5 distinct examples of public goods.
A: Public goods has properties of non excludable and non rival. Non excludable means goods could be…
Q: Fewer than 10 arrivals with A = 6.40. (Round your answer to 5 decimal pl bability At least 9…
A: Probability could assist with molding successful money related and fiscal strategies and to foster…
Q: Create a graph that shows the cost curves and profit maximizing output level for a perfectly…
A: A perfectly competitive firm is characterized by five factors: infinite number of buyers and…
Q: The table shows the demand and supply schedules for tacos. What is the equilibrium price, and the…
A: Price Qd Qs 0 160 0 1 120 40 2 80 80 3 40 120 4 0 160
Q: The AW values for retaining a presently owned machine for additional years are shown in the table.…
A: AW comparisons are essentially the similar as PW comparisons, except that all disbursements and…
Q: For the following questions, consider the figure below. Initially, the economy is at the equilibrium…
A: Fiscal policies are such policies that are implemented by the government in order to manage the…
Q: The spending multiplier, m, is 1/(1-MPC). a) If the MPC is 0.9, what is the spending multiplier? b)…
A: Marginal Propensity to Consume is the proportion of an increase in income that gets spent on…
Q: 1) The standards for a product call for 2.5 pound. Last month, 30,000 pounds of the raw material…
A: In variance analysis direct material price variance is the difference between the standard cost and…
Q: The graph shows the market for cigarettes with no tax. Draw a point to show the market equilibrium…
A: A tax shift the supply curve leftward the difference between the price buyer pays and the price that…
Q: using classical production function explain the stages of production of a firm and advise on the…
A: The process that is known to minimize the amount of waste and helps in bringing the product in a…
Q: K The graph shows the market for college education. To encourage the efficient number of students to…
A:
Q: Concerned about the political fallout from rising college tuition, the U.S. government decides to…
A: The market is efficient when equilibrium quantity is produced.
Q: antity demanded of tacos decreases er hour at each price, the new price of a taco) 0 1.00 2.00 3.00…
A: Given, Price quantity demanded quantity supplied 1 240 0 2 210 30 3 180 60 4 150 90 5…
Q: me. On the aggregate demand-aggregate supply diagram below, use the drag tool to illustrate what…
A: Real GDP is a macroeconomic compute of the value of economic output adjusted for price changes. This…
Q: he graph shows the market for flashlights in which the government has imposed a tax of $6 per…
A: Equilibrium is achieved at a point where demand is equal to supply. Tax refers to the difference…
Q: 7. Recent monetary policy of the United States Which of the following are factors that contributed…
A: Over half of the U.S. states were impacted by the housing bubble in the country. The problem with…
Q: Capital is a particular kind of money that incorporates ___________. a proxemics b symbols c…
A: Capital can be thought of as an accumulation of working hours. It enables a firm to hire labor, and…
Q: The own price elasticity of demand for apples is -1.2 (or |1.2|). If the price of apples falls by…
A: At the marketplace, the concept of own price elasticity of demand is widely used by firms and…
Q: The graph shows the market for lattes in which the government has imposed a tax of $6 per latte.…
A: Taxes are unintended fees placed on individuals or companies and levied by a government agency –…
Q: Who is william smith
A: William Smith was born on March 23, 1769 and lived for 70 years. He was born in Churchill,…
Q: Poor country Rich country Wheat Cloth 6 8 2 20 (a) What are the opportunity cost ratios for these…
A: opportunity cost is the cost for gaining one opportunity , loose the other opportunity or we can say…
Q: G The graph illustrates the market for Internet service Draw a point to indicate the market price of…
A: When tax is imposed on sellers, the supply curve shifts to the left. Tax is the difference between…
Q: Click on the icon to read the news clip, then answer the following questions. The graph shows the…
A:
Q: true or false quickly
A: The term “labor force participation rate” shows the percentage of all individuals of working age are…
Q: State of Economy bom ecession Probability of State Economy 40.00% 60.00% Rate of Return if State of…
A: A standard deviation (or σ) is a proportion of how distributed the data is corresponding to the…
Q: Money serves three functions in the economy: medium of exchange, unit of account, and store of…
A:
Q: The graph illustrates the market for Internet service Draw a point to indicate the market price of a…
A: Gathering taxes is a crucial way for nations to create public revenues that make it conceivable to…
Q: Consider the following oligopolistic market. In the first stage, Firm 1 chooses quantity q₁. Firms 2…
A:
Q: Country B grows both roses and apples. The following graphs shows the production possibilities…
A: Production Possibility Frontier Possibility of manufacture The Production Possibility Curve is…
Q: K The table shows the demand and supply schedules for on-campus housing. If the college puts a rent…
A: Here, the given table shows quantity demanded and quantity supplied of on-campus housing at…
Q: Solve the problem. 28) A kitchen remodeling company determines that the marginal cost, in dollars…
A: Given, C'(x) = 7x-13C(x) = 7x-13dx Cost of installing d x feet.
Q: Start health-care reform in emergency rooms To get started on health-care reform, Congress should…
A: Marginal benefit is the most extreme measure of cash a purchaser will pay for an extra decent or…
6
Trending now
This is a popular solution!
Step by step
Solved in 5 steps
- The table shows the demand schedule for a particular product. Quantity Price 0 100 300 90 600 80 900 70 1200 60 1500 50 1800 40 2100 30 2400 20 2700 10 3000 0 Suppose the market for this product is served by two firms who have formed a cartel and are colluding to set the price and quantity in this market. If the marginal cost to produce this product is constant at $40 per unit, then what price will the cartel set in this market? a. $40 b. $50 c. $60 d. $70 e. $80The graph below shows the demand for Cosmic shampoo. Suppose there are no fixed costs and marginal cost is a constant $80.a. What are the perfectly competitive price and output? Price: $ Output: b. What are the cartel (monopoly) price and output? Price: $ Output: c. If there are only four firms in the cartel, what are the price and output of each firm, assuming equal shares? Round your answers to 1 decimal place. Price: $ Output:The graph below shows the demand for Cosmic shampoo. ◻ Suppose there are no fixed costs and marginal cost is a constant $30. a. What are the perfectly competitive price and output? Price: $ Output: b. What are the cartel (monopoly) price and output? Price: $ Output: c. If there are only four firms in the cartel, what are the price and output of each firm, assuming equal shares? Round your answers to 1 decimal place. Price: $ Output: 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.
- The graph below shows the demand for Cosmic shampoo. Costs and revenues 60 50 40 30 20 10 0 200 400 600 800 1000 Quantity per period Suppose there are no fixed costs and marginal cost is a constant $30. a. What are the perfectly competitive price and output? Price: $[ Output: 500 b. What are the cartel (monopoly) price and output? Price: $[ Output: c. If there are only four firms in the cartel, what are the price and output of each firm, assuming equal shares? Round your answers to 1 decimal place. Price: $ Output:Explain why OPEC has been one of the most successful cartels in recent decades. Whatfactors have limited this success?Isolated Island has two wind turbines producing electricity, one owned by Dick and the other owned by Harry. Quantity demanded (units per day) Price (dollars per unit) The marginal cost of producing electricity is $4 a unit. 12 11 1 The table gives the demand schedule for electricity in this area. 10 2 9 3 If Dick and Harry form a cartel and maximize their joint profit, what will be the price of electricity and the total quantity produced? 8 4 7 5 If Dick and Harry form a cartel and maximize their joint profit, the price of a unit of electricity is $ and the quantity produced is units a day. 6 7
- 20. Using two carefully drawn and labeled diagrams, analyze an input cartel. That is, on the left side of the page, draw a diagram for one of the firms, and on the right side, draw a diagram for the labor market. Indicate the equilibrium wage and employment for the market if the labor market is competitive, (WC , LC), and the corresponding outcome for a firm, (WC, lC). Then, explain how the cartel adjusts the wage and employment.Suppose there are two firms in the market, Firm A and Firm B. The total market demand is given by P=40- 2.5Q, MR=40-5Q, and MC=ATC=$10. What is the profit maximizing price for a cartel? a. $30 b. $20 C. $25 d. $35Define cartel in the petroleum industry.
- Isolated Island has two natural gas wells, one owned by Tom and the other owned by Jerry. Each well has a valve that controls the rate of flow of gas. The marginal cost of producing gas is $12 a unit. The table gives the demand schedule for gas on this island If Tom and Jerry form a cartel and maximize their joint profit, what will be the price of gas and the total quantity produced? If Tom and Jerry form a cartel and maximize their joint profit, the price of a unit of gas is $ and the quantity produced is units a day Q Search Price (dollars per unit) 36 33 30 27 24 21 18 15 Quantity demanded (units per day) 0 1 2 3 4 5 6 7 NextCoke and Pepsi dominate the cola market. Suppose that the marginal cost of making cola is $2. Assume also that the demand for cola is given by the following table: Price $8 7 6 5 4 3 2 1 Quantity 5 cans 6 7 8 9 10 11 12 Suppose Coke and Pepsi both supply cola. They form a cartel and agree to cooperate on how much soda to produce. In this cartel case, how many bottles of cola would be sold? Type your answer...PRICE (Dollars per can) 2.00 1.80 1.60 Demand 1.40 1.20 1.00 0.80 0.60 0.40 0.20 0 0 MC = ATC MR 90 180 270 360 450 540 630 720 810 900 QUANTITY (Cans of beer) Monopoly Outcome $0.80 per can. Given this When they act as a profit-maximizing cartel, each company will produce 180 cans and charge information, each firm earns a daily profit of $144.00, so the daily total industry profit in the beer market is $288.00. Oligopolists often behave noncooperatively and act in their own self-interest even though this decreases total profit in the market. Again, assume the two companies form a cartel and decide to work together. Both firms initially agree to produce half the quantity that maximizes total industry profit. Now, suppose that Stargell decides to break the collusion and increase its output by 50%, while Schmidt continues to produce the amount set under the collusive agreement. Stargell's deviation from the collusive agreement causes the price of a can of beer to now $ , while Schmidt's…
