Why market power is generally regarded as discrimination

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Reference no: EM13240011

1. A reporter contacts you to comment on a report that manufactureres of widgets are colluding. You study the widget market and estimate that the elasticity of demand at the market price is about -0.5. What do you tell the reporter about the collusion?

2. If the demand elasticity for kiwi fruit is -0.2, would kiwi farmers be better off if tropical storms destroyers 1% of each farmers crops? what does that tell you about the farmers incentive to form a cartel? What might stop them?

3. Explain why market power is generally regarded as necessary for price discrimination

Reference no: EM13240011

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