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Testifying at a price fixing trial involving Cargill Corp. and the market for chicken growth hormone, (in which the Cargill is one of only three firms worldwide), an executive for Perdue said: "It's an oligopoly. When one (firm) changes price, they all do…Usually within minutes."
Why is it not surprising to find that in an oligopoly, which sells a basically undifferentiated product like chicken growth hormone all the firms change prices simultaneously, even if there is no explicit price fixing? In another words, what specific price strategy of Oligopoly marketing was practiced in this case?
In the similar context, on July 8, 2015, the US Department of Justice has filed multiple counts of lawsuits against 4 major airlines companies accusing them on violation of Anti-Trust legislation for price fixing scheme during the 4th of July holiday flights. These four airlines are SW Airlines, Delta, American, and the United who collectively control over 80% of all domestic passenger seats across the country. What specific type of price fixing does this accusation relate to the topics you have studied in this course? How is this case different than the example of Cargil Corporation stated above? Be very brief.
On hearing that you are undertaking a subject in accounting as a part of your degree you are approached by a friend, Michael Graham, to give him advice regarding the potential purchase of a business.
with the aid of a diagram explain how a floating exchange rate is determined. Explain how will a depreciation of the rand influence our exports and imports.
Suppose in Belgium the opportunity cost of producing a trombone is 8 clarinets. In Denmark the opportunity cost of producing a trombone is 6 clarinets. What is the opportunity cost of producing a clarinet for Denmark?
Suppose the country of Lilliput exported 263 billion dollars worth of goods while they imported 477 billion dollars worth of goods in the last calendar year. Calculate Lilliput\'s balance of trade:_____ billions of dollars.
If the European Central Bank increases interest rates, the demand curve for European euros shifts rightward and the supply curve of European euros shifts leftward.
Elucidate however, was 3 percent in Finland also 1.8 percent in France. From this we can conclude that France's every capita GDP
q1. what would happen to the money supply as well as the relationship between the monetary base as well as broader
Wilson Company sells 130 units daily. Each time Wilson orders more units, the supplier takes four days to deliver the inventory. What is Wilson's reorder point (in number of units)?
Tim is offered two gambles. With gamble A, he either gains $2 or loses $1 with a 50 percent probability. With gamble B, he either gains $3 or loses $2 with a 50 percent probability. Tim prefers gamble B to gamble A. What can we conclude?
Illustrate what is the proper role of unions. Why are they declining in membership and influence in the economy.
What is the equilibrium price? What is the equilibrium quantity? (d.) If the market price is $5 will there be a surplus or a shortage? Of how much?
How does this change the value generated by the market? Why do you say this? Where does this appear in your graph.
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