Discuss economic effects of the change in market structure

Reference no: EM13233828

In a perfectly competitive industry, demand is:P = 850-2Q
and industry supply is: P 250 + 4Q
The supply is simply the sum of the marginal cost curves of all the firms in the industry. Suppose that all the competitive firms collude to form one single monopoly firm. (Collusion changes neith the demand nor the cost conditions in the industry.) Discuss the economic effects of the change in market structure. More specifically, explain the possible changes in the market price and output of the commodity.

Reference no: EM13233828

Questions Cloud

In three sentences describe games you play on your computer : In three sentences describe some of the games you play on your computer. Explain when and why you play the games. (2) If you do not play games, describe the other things you do on your computer

Create a market entry strategy along with a staffing plan : Determine how, if possible, international trade-related organizations can assist this expansion effort in the country of choice. If international trade-related organizations will not be helpful, justify this situation.

Church wealth have on the condition of the church : What were some of the signs of disorder within the early 16th century church? What impact did the church wealth have on the condition of the church?

State the chemical equation for the equilibrium : Write the chemical equation for the equilibrium that corresponds to Ka. By using the value of Ka, calculate ?G° for the dissociation of cyanic acid in aqueous solution

Discuss economic effects of the change in market structure : The supply is simply the sum of the marginal cost curves of all the firms in the industry. Suppose that all the competitive firms collude to form one single monopoly firm. (Collusion changes neith the demand nor the cost conditions in the industry..

How the production functinos for hardwood usage : Sleak Teak builds yard furniture using domestic hardwoods and (in a smaller shop) knick-knacks from the same sort of wood. Although hard woods were readily available in the past, recently they have become harder to botain.

Identify and describe a current situation : Identify and describe a current situation, within your current or former organization, where the challenges of the process of change.

Control overbrazil in the 17th century : Why were the Dutch unable to maintain their control overBrazil in the 17th century?

State a balanced chemical equation for the reaction : Write a balanced chemical equation for the reaction: Na2CO3 and AgNO3? And Its ionic equation please

User Account

All Pages