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In oligopoly, each firm is acutely aware of the production and marketing decisions of all competitors and carefully considers the potential competitive reactions in all decisions.
1. Discuss whether firms in other market structures consider the potential reaction of competitors when making important marketing decisions. 2. Part of the debate among economists on US airline deregulation in the 1978 involved the theory of contestable markets. List the four characteristics of contestable markets and evaluate how well airline markets meet these criteria. 3. Price outcomes of the 5 oligopoly models differ substantially. Which models produces the lowest and highest total profits (all firms combined)? What are the predicted prices? Provide aviation industry examples of routes or markets that might approximate each of these two outcomes. 4. Oligopoly is the predominant market structure in the airline industry. In the express package business, FedEx, UPS, and DHL compete in the global air express industry. In the US, FedEx and UPS are a duopoly. FedEx and UPS financial indicators such as net margin on sales and return on assets are near the average for US companies. What oligopoly model does this suggest and what characteristics of express package business would lead to this outcome. 5. The mission statement for the Organization of Petroleum Exporting Countries states, "the mission of the Organization of the Petroleum Exporting Countries (OPEC) is to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry." Explain why the OPEC members often disagree on how much petroleum each country should produce.
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The company is currently evaluating the merits of building a new plant in order to fulfill a new contract with the federal government. The alternative to expansion is to use additional overtime, reduce other production, or a combination of both.
Evaluate alternative propositions for economic choice by one or more individuals, firms, organizations, or governments applying one or more of the economic theories provided in the course.
ut as gasoline prices soar and concern about the environment mounts, the need to conserve gasoline has become increasingly clear. What would it take to reduce the overall demand for gasoline in the United States
What is the forward premium on euros (the forward discount on dollars)? What is the difference between the interest rate on one-year dollar deposits and that on one-year euro deposits (assuming no repayment risk)?
Doug Wyatt is a currency trader for Global Currency Exchange Corporation Wyatt has compiled the following data concerning the U.S. dollar or Australian dollar exchange rate.
Now consider what has happened in the market for illegal downloads. As the article suggests, lawsuits brought by the Recording Industry Association of America (RIAA) seem to have raised the cost most users attribute to illegal downloads.
The interest rate on one-year Canadian government securities is 6 percent and expected inflation rate for the coming year is 2 percent. The U.S. one-year government security instrument interest rate is 4 percent with expected inflation for this co..
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What was the most "eye opening" information you learned about droughts? Why did you find it so interesting - What happens to price? What are the implications for the success of conservation measures and policies?
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