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Two premium ice cream producers that set prices and sell differentiated products propose to merge. Firm A sells Hogan-Daiz for a price of $10 with a marginal cost of $5. Firm B sells Bob&Jelly's for a price of $12 and a marginal cost of $6. a. When the price of Hogan-Daiz rises, 10% of its lost demand goes to Bob&Jelly's. What is the marginal cost reduction for Hogan-Daiz rises that is required to offset the upwards pricing pressure on the Hogan-Daiz price? b. You are employed as a consultant by the merging firms. You know that the DOJ knows that the marginal cost of Bob&Jelly's will fall by 60 cents as a result of the merger, but that the agency is unsure of the diversion ratio between Bob&Jelly's and Hogan-Daiz. How small will you need to claim that the diversion is in order for there to be no net upwards pricing pressure on the Hogan-Daiz price?
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
Case study analysis about optimum resource allocation: - Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..
Questions: : Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month? Explain your choice.
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Explain the impact of external costs and external benefits on resource allocation; Why are public goods not produced in sufficient quantities by private markets? Which of the following are examples of public goods (or services)? Delete the incorrec..
Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..
Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:
Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..
"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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