Reference no: EM13155532
The following equation represents the daily market demand for crude oil.
The following equation represents the daily market demand for crude oil.
Q = 10, 000,000 - 500,000 P
Suppose there are four oil producers in the crude oil market, A, B , C and D. The marginal cost of A is $10. The marginal cost of B is $12. The marginal cost of C is 13. The marginal cost of D is $15. Note that in all three cases MC =AVC.
(Hint: Do not be concerned about fixed costs in this problem; assume TFC = zero for all producers.)
a. If collusion is not allowed, what kind of market arrangement do you think is likely to result from competitive interactions among these four firms?
b. Now suppose collusion is allowed. Is it possible for these firms to form an effective cartel?
c. Calculate the profits of these firms in either case (a and b).
|
Find the actual-dollar value and the constant -dollar value
: If the general inflation rate is 6% compounded monthly, find the Actual-dollar value and the Constant -dollar value of the 20th payment.
|
|
Compare and contrast internal and external validity
: Compare and contrast internal and external validity. Describe and give examples of research questions for which external validity is a primary concern. Describe and give examples of research questions in which internal validity is a primary concern.
|
|
What is the substance
: A unknown liquid is insoluble in water and soluble in cyclohexane and alcohol with a boiling point of 110 C What is the substance?
|
|
How scientist might use rna to combat this disease
: In an autophagy-related disease, a person's cells over-express ATGs. Describe how scientist might use RNA to combat this disease.
|
|
Calculate the profits of these firms in either case
: If collusion is not allowed, what kind of market arrangement do you think is likely to result from competitive interactions among these four firms? Calculate the profits of these firms in either case (a and b).
|
|
Find the lower and upper limit of the confidence interval
: If we assume that attention spans are normally distributed, find a 95% confidence interval for the mean attention span of children playing with this new toy. What is the lower limit of the confidence interval.
|
|
Determine norm inclusion amount
: On june 1, 2009, norm leases a taxi and places it in service. the lease payments are $1,000 per month. assuming the dollar amount from the irs table is $241, determine norm's inclusion amount.
|
|
Distinctly different sio2 minerals occur like stishovite
: In places where meteor impacts have occurred, such as Meteor Crater, other distinctly different SiO2 minerals occur, such as stishovite and coesite.
|
|
Murders are committed by women
: Experts claim that 10% of murders are committed by women. is there enough evidence to reject the claim if in a sample of 67 murders, 10 of them were committed by women? use a significance level of .01
|