User Account

All Pages

Explain the charge in equilibrium per oil change

Assignment Help Business Economics
Reference no: EM133081652

Assume that firms that change the oil in cars compete in a perfectly competitive industry with many firms offering oil changing services at a cost of $30/oil change. Then, two firms, firm A and firm B invent two patented technologies A and B that lower the cost of oil changes: technology A lowers the cost of oil changes by $5/change; technology B lowers the cost by $10/change. If firm A and B compete in licensing their technology to the oil changing industry, can you use the Bertrand model to predict the royalty they will charge in equilibrium per oil change and what the effect will be on the price of oil changes.

Reference no: EM133081652

Questions Cloud

Global versus international strategy : Differentiate between a global marketing strategy and an international marketing strategy to market toys or solar panels.
Brief about ghana highlighting : Imagine that you work for the World Bank and you have been called to Ghana to aid the new president to come up with a new international trade strategy.
What type of cyber-attack occurred : Consider your organization or another organization that has been affected by a cyber-attack. What type of cyber-attack occurred?
Explain why global free trade has done more harm : Explain why global free trade has done more harm than good. Explain it briefly.
Explain the charge in equilibrium per oil change : Assume that firms that change the oil in cars compete in a perfectly competitive industry with many firms offering oil changing services at a cost of $30/oil ch
Ethics and corporate and social responsibility : Under what conditions is it ethically defensible to outsource production to the developing world where labor costs are lower when such actions
Case-digitalization at siemens : The question is based on this article:Collis, David J., and Tonia Junker. "Digitalization at Siemens." Harvard Business School Case 717-428, February 2017. (Rev
Patients cuts fee for a cleaning : A dentist with 80 patients cuts his fee for a cleaning from $60 to $54 and attracts two new patients.
Find four alternative asset : A financial manager both choose between four alternative asset 123 and each asset cost earn 5,000 pesos and is except to provide any over a three years provide

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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