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A cartel is branch of an oligopoly. There are still a handful of large firms and many smaller firms. For instance, the diamond industry and the petroleum industries are examples are oligopolies. However, the main difference is that there is cooperation among the firms. Cooperation with output, price, marketing, distribution and future planning. Within a capitalist economy, an oligopoly would not maximize efficiency for both the consumer OR the producer. Does this make the completion much more fierce? Less?
Identify and briefly explain in your own words three specific macroeconomic topics or ideas that you found to be the most important and/or most interesting. Be specific, and explain.
Where within the business cycle was the United States operating in October of 1929? Briefly compare and contrast the period of 1929 - 1932 with what has taken place in the United States over the past 4 years. While you may feel what happened in 1929 ..
Consider the optimal choice of labor and leisure discussed in class and the text. Suppose a consumer works the first 8 hours of the day at a wage rate of $10 per hour, but receives an overtime wage rate of $20 for additional time worked.
What factors are considered in calculation of the CPI? Explain your answer and provide a reference. Where would you find data on CPI and PPI for the U.S.? What does the current level of inflation tell you about the state of the U.S. economy?
Assuming that interest rates for used car loans are normally distributed, approximately what percent of loans have an interest rate that is between 6% and 12%?
Illustrate what is the value of consumer surplus. Illustrate what is the value of the deadweight loss created by this monopoly.
What is the indicator status of the Private Nonresidential Fixed Investment? Explain.
Why is the burden of a tax to taxpayers greater than the revenue recieved by the government. Why do some economists advocate taxing consumption rather than income.
Clearly explain the factors to consider as your "fixed factor" and alternative short term and long-term decisions. Submit your analysis in a one to three page paper.
The time it takes to process phone orders in a small florist/gift shop is normally distributed with a mean of 6 minutes and a standard deviation of 1.24 minutes. What cut off value would separate the 2.5% of orders that take the most time to process?..
q1. what is the relationship between marginal cost and marginal revenue when single-price monopoly maximize profit?
Let the inverse demand curve for tennis classes is: P = 90 - 1.5Q.
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