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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?
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 in controlling the otherwise monopolistic tendencies of a real-world market
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?
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.
Governments have several means available to guide and influence competition in the marketplace. These means include government ownership of firms and industrial policy.
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 argue that freer trade might actually improve the quality of the environment
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.
Which shock best explains the 1981-1982 recession, when inflation fell quickly and unemployment rose quickly?
Suppose Kevin is operating a cake shop at a perfectly competitive market in South Korea and producingat the shutdown point.
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.
explain why purchasing power parity ppp works better in the long run than in the short run. your 200 word answer
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