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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?
Evaluate the fundamental arguments between Keynesians and Monetarists concerning the level of government involvement in our economy to minimize the impact and stabilize the different stages of the business cycle.
The demand for a product is given by P = 350 − 2Q and the supply is P = 30 + 4Q. What is the increase in the tax rate needed to reduce the quantity transacted on the market by two units? How about if we want to reduce quantity by 5 units?
Assume a technological advance leads to lower production costs. Show the effect this will have on national income, unemployment, inflation, and interest rates with the help of an ADAS diagram, assuming completely flexible wage rates.
How many tons of carbon will the US emit if there is no cost to putting carbon in the atmosphere?
If the demand for cookies increases due to an increase in consumer income, and if, at the same time, increases in price of dough cause the supply of cookies to fall, the price of cookies will?
Because the Federal Reserve is not constrained by a fixed exchange rate, it is free to set monetary policy without concerns about the effect on the value of the dollar. How would the Fed’s actions during the 2007-2009 financial crisis have been conta..
Using a conflict theory perspective, which part of the system do you think contributes most toward racial and ethnic inequality in the United States.
When economists speak of "marginal," they mean. Managers undertake an investment only if. A manager of a clothing firm is deciding whether to add another factory in addition to one already in production. The manager would compare. If a firm's average..
Describe why it is often asserted that that exporters suffer when their home currencies appreciate in real terms against foreign currencies and prosper when their home currencies depreciate in real terms.
The following six capital projects are considered for a manufacturing company and the project will end at the end of 10 years. The initial investments for the projects are 300k, 400k, 450k, 500k, and 600k. The annual return for these projects are 80k..
Solve the dilemma using any two of the following Three Primary Schools of Ethics we discuss this week from our assigned reading.
Examine the major effects that government policies have on production and employment. Predict the potential effects that government policies could have on your company.
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