Comment on the behaviour of oligopolies in setting market

Assignment Help Microeconomics
Reference no: EM132511763

There has been concern in country X that oil companies do not readjust prices to benefit consumers when production prices fall. The companies are nevertheless quick to adjust prices upwards when production prices rise. This is said not to be in line with the spirit of trade liberalization.

a) Comment on the behaviour of oligopolies in setting market prices.

b) What benefits have accrued from liberalization of trade country X?

c) There has been a call to re-introduce price controls in the oil industry. What are the advantages of imposing price controls?

Reference no: EM132511763

Questions Cloud

EG1002 Computing and Sensors Assignment : EG1002 Computing and Sensors Assignment Help and Solution, James Cook University - Assessment Writing Service - demonstrate a successful kick
Official measure of the rate of unemployment in tasmania : What effect would this decision have on the official measure of the rate of unemployment in Tasmania?
Introductory speech in online environment : Which one? of the strategies listed below do you believe will best help you prepare to deliver your introductory speech in an online environment?
What is a leased business application : What is a leased business application? What is a purchased business application? What is SaaS? What is an RFP/RFI? What information does the RFP/RFI document.
Comment on the behaviour of oligopolies in setting market : There has been a call to re-introduce price controls in the oil industry. What are the advantages of imposing price controls?
What is the purpose of automating a business process : What is the purpose of automating a business process? How is SOA a reflection of the architecture needed to develop applications for a "new world" processes?
Calculate the price elasticity of demand for acer : What would be the quantity demanded for ACER, show this using a graph. In this case, calculate the price elasticity of demand for ACER.
Business intelligence and systems : Develop and present a paper that demonstrates you have learned, and know how to apply the learning objectives in this course "Business Intelligence and Systems"
Discuss federated systems in brief using given information : Discuss in 500 words or more federated systems. Use at least three sources. Include at least 3 quotes from your sources enclosed in quotation marks and cited.

Reviews

Write a Review

Microeconomics Questions & Answers

  Calculate the level of consumption

Now we will calculate the level of consumption that would have occurred if Uncle Sam did not raise taxes.

  Explain the role that government regulation plays

Explain the role that government regulation plays in controlling the otherwise monopolistic tendencies of a real-world market

  Why is the practice more prevalent in one industry

Compare and contrast: why is this practice more prevalent in one industry than another? Why does firm X adopt this practice more than firm Y?

  What proportion initial gap in income between two countries

Suppose that two economies share a common steady state so that there is convergence between them. The poorer country closes 2% of the income gap between them each year.

  Example of government intervention

Governments have several means available to guide and influence competition in the marketplace. These means include government ownership of firms and industrial policy.

  Compute the economic profit for each division

Suppose each division is assessed a capital charge based on a cost of capital of 10% of invested capital. Compute the economic profit for each division.

  Proponents of trade liberalization

Proponents of trade liberalization argue that freer trade might actually improve the quality of the environment

  Figure out how much of the new beer to produce

Bud and Wise are the only two producers of aniseed beer, a New Age product designed to displace root beer. Bud and Wise are trying to figure out.

  When inflation fell quickly and unemployment rose quickly

Which shock best explains the 1981-1982 recession, when inflation fell quickly and unemployment rose quickly?

  Explain the price and quantity of kevin cakes

Suppose Kevin is operating a cake shop at a perfectly competitive market in South Korea and producingat the shutdown point.

  Explanation to price discrimination

Which of the following is NOT a condition for price discrimination? Different groups of consumers should be charged differing prices for the same product. The firm's demand curve should be downward sloping.

  Describe why purchasing power parity ppp works better in

explain why purchasing power parity ppp works better in the long run than in the short run. your 200 word answer

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd