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The world's top for manufacturers on inexpensive random access memory chips, a key component of all consumer electronic devices, agreed to fines and jail term for several executive because of 1999-2002 price fixing. The criminal conspiracy raised prices 400 percent in a six-month period from US$4 per 100 megabits and then orchestrated maintaining the price at US$3. DRAM chip are generic and easily substitutable between supplier. As a result, a CARTEL agreement to limit production is necessary to maintain price above competitive level. SAMSUNG and HYNIX, two KOREA firms that produce the majority of the chips, paid US$300 million and US$185 million fines respectively. Infineon Technologies or Germany paid a US$160 million fine, and four executives went to jail for several months and paid individual fines of US$250 000. Micron Technology of Boise, Idaho, receiced immunity for cooperating with the prosecutors and complainants DELL and HP in making the case.
(1) Use a suitable diagram to explain the price-output determination for a TWO firm Cartel profit maximisation and the allocation of restricted output respectively.
What could the Fed do in 2002-2003 in order to bring the economy back to full-unemployment ? What did the Fed actually do? Explain in detail
do you consider important to our overall economic health and are things getting better or worse? Please use real-world facts (i.e. statistics) to back up your answer.
In the United States, marketing cooperatives are most commonly found in the agriculture industry. According to the total revenue rule, if the coefficient of price elasticity of demand is less than 1 and if price goes. If the coefficient of elasticity..
The Johnson Corporation produces 1000 wood cabinets and 500 wood desks per year, for total cost of $30,000. It has been estimated that if the firm produced 1000 wood cabinets only, the cost would be $23,000, and if the firm produced 500 wood desks on..
Mars Inc. manufacturers M&Ms the milk chocolate comes in a variety of colors : blue, brown, green, orange, red, and yellow. the overall proportions for the colors are 0.24 blue, 0.13 brown, 0.20 green, 0.16 orange, 0.13 red and 0.14 yellow in a sampl..
Charlie has utility function U(x,y)=24x^1/2+y. If he maximizes her utility, what is the amount of good y that he consumes, when price of x is 4, price of y is 1, and income is 50 (in this case utility maximization is characterized by the tangency rul..
A local car dealer is advertising a standard 24-month lease of $1,150 per month for its sports car. The standard lease requires a down payment of $4,500, plus a $1,000 refundable initial deposit now. The first lease payment is due at the end of month..
Suppose that investment decline by 40 units to a level of 60. What will be the new level of equilibrium income.
Which of the following is true of the discount rate?
When the price of a good changes, the substitution effect occurs because:
What is the invisible hand principle? Does it indicate that self-interested behavior within markets will result in actions that are beneficial to others? What conditions are necessary for the invisible hand to work well? Why are those conditions impo..
State the essential difference between the classical and Keynesian schools of thought. If you were a public policymaker and received conflicting advice from a classical and a Keynesian economist, how would you choose? Explain.
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