User Account

All Pages

What are the difference between perfect competition and cwdp

Assignment Help Macroeconomics
Reference no: EM131909444

Assignment

1. Return to the case of the two oil change producers Oil Can Henry's (OCH) and Jiffy Lube (JL). Recall the inverse market demand for oil changes: P = 100 - 2Q

where quantity is measured in thousands of oil changes per year, representing the combined production of O and G; Q =qO+qG; and price is measured in dollars per change. OCH has a marginal cost of $12 per change, and JL has a marginal cost of $20.

Answer the following questions:

a. Suppose the market is a Stackelberg oligopoly and OCH is the first mover. How much does each firm produce? What will the market price be? How much profit does each firm earn?

b. Now suppose JL is the first mover. How much will each firm produce, and what is the market price? How much profit does each firm earn?

2. What are the differences between Perfect Competition, CwDP, Oligopoly, and Monopoly?

Reference no: EM131909444

Questions Cloud

Port your response about bit coin : Forecast Bitcoin's value one and three years from now. Make sure the crux of the discussion is what is asked and you don't just write anything about bit coins.
Determine size-growth and accessibility for the industries : You have to determine size, growth, accessibility for the 6 industries. My friends will also do 6 each. All together we will decide which 3 industries.
Create a gantt chart for that project : Assume the HCO Decides to Develop a New Day-Care Center.Create a Gantt chart (as in Exhibit 3.3) for that project.
Prepare a plan to implement your choice recommendation : Prepare a plan to implement your choice recommendation. Let your imagination come up with alternative ways to solve the problem.
What are the difference between perfect competition and cwdp : What are the differences between Perfect Competition, CwDP, Oligopoly, and Monopoly? How much will each firm produce, and what is the market price?
Compute the measure of goodness-of-fit : Compute the measure of goodness-of-fit. Compute the 90% Confidence intervals for the intercept and the slope coefficient.
Describe market-leader strategies : Describe market-leader strategies, market-challenger strategies, and market-follow strategies. Using the US fast food industry, identify leaders, challengers
Calculate the new coefficients : Calculate the new coefficients, their standard errors, and the R-Squared for the transformed model.
How do you interpret the two regressions : In a regression of average wages (W, $) on the number of employees (N) for a random sample of 30 firms, the following regression results were obtained

Reviews

Write a Review

Macroeconomics Questions & Answers

  Illustrate what it implies for the relationship

illustrate what it implies for the relationship between labour supply and productivity growth.

  Marketplace labor demand is typically more elastic

marketplace labor demand is typically more elastic in absolute value than market labor supply. A person who has a substitution effect that dominates his income effect will increase hours worked when an income tax is imposed.

  Government expenditure and fixed exchange rate

The Chinese Renminbi was pegged to the USD before July 2005. Using the IS-LM-FX model for Home (China) and Foreign (US), illustrate how a decrease in G in China before July 2005 affected the following Chinese variables (increase, decrease, no chan..

  Profit and output choice of incumbent firm

How much does it choose to sell when it enters the market? What is the resultant market price? How much does each of the two firms earn in profits?

  Optimal level of consumption and price of health care

Suppose the marginal social cost of providing health care to a person is given by the equation 20+4Q. An individual's marginal benefit of health care is 300-Q. This individual has an insurance policy that stipulates that the person will pay 25% c..

  Find national trade data

Find National Trade Data - Determine the trade balance between the U.S. and China for the most recent five year period.

  Calculate what happens to terms of trade index for country

Calculate what happens to the terms of trade index for some country between 1995 and 1997, if, in 1995, the price index for its exports was 110 and the price.

  Information systems management

In this writing assignment, you will explore how organizations use business process management (BPM). Write a one-page (250-word) paper explaining how organizations use business process management (BPM). Be sure to use at least one specific exampl..

  What benefits can outdoor gear from an internet presence

What should the company look for in terms of software for this project in addition to an interface with their accounting system In addition to serving as a convenience for its customers and increased sales, what other benefits can Outdoor Gear, Inc...

  How large is the quantity effect

Explain why a monopolist, such as Media Cable, faces a downward-sloping demand curve? Explain why the marginal revenue from an additional sale is less than the price of the service?

  How important is consumer and utility relationship

How important is consumer and utility relationship? What services a utility need to ensure for various consumer groups?

  Why men and women are said to have human capital differences

List the approaches to resolving a deadlock between a union and a company's management.

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