Oligopoly market, marketing, Marketing Management

Assignment Help:
Oligopoly Market
The majority of the world’s diamonds comes from Country A and Country B. Suppose that the marginal cost of mining a diamond is $1,000 per diamond and that the demand schedule for diamonds is as follows:
Price Quantity
$ 6,000 5,500
5,000 6,500
4,000 7,500
3,000 8,500
2,000 9,500
1,000 10,500
If there were MANY sellers of diamonds, what would equilibrium price and quantity? Why?
If there were only one seller, what would be the equilibrium price and quantity? Why?
If Country A and Country B formed a cartel, What would be the equilibrium price and quantity? Why? Is this cartel likely to survive? Why or why not?

Related Discussions:- Oligopoly market, marketing

Name the factors affecting pricing decisions, Name the factors affecting pr...

Name the factors affecting pricing decisions a) Cost b) Demand c) Competition d) Marketing Objectives e) Government Regulation

What innovation would you bring to your e-commerce platform, A retail fast ...

A retail fast food chain is considering an expansion in new cities locally and internationally. Profitability has been on the increase and the board has taken the decision to inves

branding, which retailers have the strongest image and equity in your mind...

which retailers have the strongest image and equity in your mind? Think about the brands they sell. Do they contribute to the equity of the retailer? conversely, how does that reta

Importance of the pricing, Importance of the pricing: Pricing is one of...

Importance of the pricing: Pricing is one of the important elements of the marketing mix, but lately, it has come to occupy the centre stage in the marketing wars. The reasons

What is competitive parity method, Q. What is Competitive Parity Method? ...

Q. What is Competitive Parity Method? Competitive Parity Method: - It is usual approach in which advertising budget is framed in such a manner that our company is at par with

How they are manipulated to achieve competitive edge, Question 1: McCar...

Question 1: McCarthy (1960) formulated the concept of 4Ps- Product, Promotion, Price and Place marketing mix. For several years these were the principal foundation on which

Advantages of product branding to middleman, Advantages of the middleman: ...

Advantages of the middleman: 1.       Easy to understand the needs and wants to consumers: use of the brand makes it very easy for the middleman to understand the needs, want

Developing the marketing mix factors, Question 1: After the market segm...

Question 1: After the market segmentation process has been completed, the organization should begin developing the marketing mix factors. Discuss. Question 2: Discuss

Process of the environmental analysis, Procedure of the environmental analy...

Procedure of the environmental analysis: Step 1: assess the nature of the environment: it is useful to take a view of the nature of the organization's environment in terms of

Write Your Message!

Captcha
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