Question Details

[answered] 1. What does a cartel OR a Kinked Demand Curve tell us abou


Attached in a word document are 10 Economic questions. I will pay an additional $20 tip to have them answered by 6:45pm EST today (12/14/2016)


1. What does a cartel OR a Kinked Demand Curve tell us about the nature of competition

 

and collusion? Is it better to be a consumer where there is a cartel or kinked demand

 

curve? Why? Pick one of the Two cases to examine for this question. Don't try to do both.

 

Be specific and accurate.

 

2. True or False and Explain why: If there is a merger between Mercedes Benz (the car

 

maker) and tire company, this is a example of a vertical merger. Why would they want to

 

merge like this? What are advantages and disadvantages?

 

3. Describe the characteristics of a monopolistically competition industry. Describe why

 

monopolistic- ally competition firms find it important to establish brand loyalty for their

 

product and service? How do try to create brand loyalty? Give Two examples of

 

companies in this industry that have created loyalty.

 

4. What happens in the long run for the monopolistic competition firm and for the oligopoly

 

firm? Which of the two are better for the consumer and why? 5. A public good is a good like the following:

 

A ice cream that is made and sold by governments.

 

.

 

B Lighthouse near a lake.

 

.

 

C A music CD made by a musician.

 

.

 

D Car purchased by the government for its use.

 

.

 

E. Jeans made by Levi's Company.

 

F. Textbook written by an author.

 

6. If there is a merger of a firm with 25% market share and one with 20% market share,

 

what will be the increase the Herfindahl Index after the merger? Show work here.

 

7. True or False and Why: A price setter company (like a monopoly or an oligopoly) can

 

earn greater profits by charging one price than by practicing price discrimination.

 

Support your answer.

 

8. What is price discrimination? Which of the Four industries that we studied can do

 

it? What conditions have to occur for price discrimination be effective for the

 

seller?

 

9. How are wages set in the labor market? Are workers and companies Wage (price)

 

setters or wage (price) takers or both? Explain how a company or a worker can be

 

a wage setter, while other companies and workers are wage takers. Hint: A wage setter is where the company/worker decide how much to pay/how much the

 

wages should be and wage taker is where the company pays what the market

 

wages are, no more or less.

 

10. True or False and Explain why: Oligopoly sets their price based on their own

 

decision and not considering anything.

 


Solution details:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Sep 18, 2020

PRICE: $15

Solution~0001001462.zip (25.37 KB)

Buy this answer for only: $15

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free copy from our tutoring website www.aceyourhomework.com (Deadline assured. Flexible pricing. TurnItIn Report provided)

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
SiteLock

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Sep 18, 2020

EXPERT

Tutor

ANSWER RATING

GET INSTANT HELP/h4>

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • As a reference for in-depth understanding of the subject.
  • As a source of ideas / reasoning for your own research (if properly referenced)
  • For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

NEW ASSIGNMENT HELP?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN YOUR SET DEADLINE.

Order Now