Monopolistic competition and collusion

Assignment Help Microeconomics
Reference no: EM1370656

Even if firms in the monopolistically competitive market collude successfully and fix price, economic profit will still be competed away. Describe (include an explanation of economic profit in your explanation). Will price be higher or lower under such the agreement in long-run equilibrium than would be the case if firms didn't collude? Discuss.

Reference no: EM1370656

Questions Cloud

Question about operating of a business : Assume you decide to open a copy store. You rent store space, and you take out a loan at a local bank and use the money to buy 10 copiers.
Conclude the net charge contained within the cube : A helicopter is ascending perpendicularly with a speed of 5.02 {rm m/s}. At a height of 115 {rm m} above the Earth, a package is dropped from the window.
Find the maximum loan the bank can extend : Assume the Required Reserve Ratio is 10% and the balance sheet of the People's National Bank looks like the accompanying example:
Write application to inputs ten numbers from user : Write the application to inputs ten numbers from user, each number can be between 10 and 100, inclusive. As each number is read in determine if it is number already entered.
Monopolistic competition and collusion : Describe (include an explanation of economic profit in your explanation). Will price be higher or lower under such the agreement in long-run equilibrium than would be the case if firms didn't collude? Discuss.
Compute equivalent annual cost : An engineering student requires to replace the battery in her car so that she can drive home for a vacation after Spring Semester. She has located following possibilities:
Explain we live in a very complex and culturally diverse : Explain We live in a very complex, and culturally diverse society and When we bring individuals together from diverse backgrounds in a work environment conflict can arise
Design stored procedure to accept optional parameters : Design a stored procedure named spBalanceRange that accepts three optional parameters. Procedure returns a result set consisting of VendorName, InvoiceNumber and Balance for each invoice with a balance due
Question about online bill payment : The Wall Street Journal reported that businesses are aggressively pushing customers to pay their bills electronically. Numerous banks dropped their monthly fee for online bill paying,

Reviews

Write a Review

Microeconomics Questions & Answers

  Breakeven level-degree of operating leverage

Tetrangle Manufacturing has fixed costs of $2,160 per day. The firm manufactures bicycle component upgrade kits. What is the breakeven level of daily output for the firm?

  Maximizing revenue-determining demand

Shoes For Less (SFL) hires you to estimate the demand for their shoes, and you estimate this to be: Describe  the difference in the results between your results and those of original consultant.

  Optimal combination of inputs

The price of Labor (L) is $50 for each unit and the price of capital (C) is $20 per unit. How much labor and capital should Joy employ to produce 100,000 units? Find out the total cost of production?

  E-business environment and marketing system

Discuss the potential risks of using Web 2.0 tools. Provide several examples. What are the benefits of "build-to order" to buyers and sellers? Are there any disadvantages?

  What kind of demand does walmart''s products have

hat kind of demand does walmart's products have? Does it vary by season? What market segment does Walmart target?

  Example of monopoly

Give an example of a monopoly, an oligopoly, and a cartel. Describe the welfare effects of monopolies and oligopolies.

  Draw a standard supply and demand diagram

Draw a standard supply and demand diagram which shows the demand for new housing units that are purchased each month, and the supply of new units built and put on the market each month.

  Question on inferior good

The average 15-year old purchases 12 CDs and 15 cheese pizzas in the typical year. If cheese pizzas are inferior goods, would the average 15-year old be indifferent between receiving the $30 gift certificate at local music store and $30 in cash?

  Future economic glowth

Future economic glowth

  Short run production function

You manage the plant the mass produces engines by teams of workers using assembly machines. The technology is summarized by production: Find out the short run production function? Find out the total cost function for your plant to produce q engines ..

  Demand curve and price equilibrium

Describe how each of the following will affect the price and quantity of equilibrium. To find out the new values, describe how the supply and/or demand curves will shift in the following cases (if at all).

  What are the corresponding prices and mucs

What are the efficient quantities for each of the two periods? What are the correspondingprices and MUCs?

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!

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