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

Business plan, how to write a channel design decision: intensive, selective...

how to write a channel design decision: intensive, selective and exclusive

Virtual music sheets innovation , VirtualMusicSheet.com Virtual Music S...

VirtualMusicSheet.com Virtual Music Sheet.com innovation is to be documented as a 'business report'. You must clearly explain the purpose, business concept, customer group(s) a

How is a customer retained for a long period with business, How is a custom...

How is a customer retained for a long period with business? Apart from managing value chain and keeping up delivery network, firms require to develop strong bonds along with th

What is value pricing strategy, What is Value Pricing Strategy? Value...

What is Value Pricing Strategy? Value Pricing Strategy: Value pricing is a customer based pricing process that is an outgrowth of the multi-attribute product concept. By

Buying decision process, with reference to the purchase of a new television...

with reference to the purchase of a new television set explain the buying decision process which a typical consumer goes through demonstrate how company can formulate their marketi

Breakeven Analysys, Breakeven Analysis Campbell Soups has set up a factor...

Breakeven Analysis Campbell Soups has set up a factory in Hong Kong at an estimated cost of $3.1 Million. In the first few years of operation, its product line will consist of du

Discuss the concepts relationship and loyalty marketing, Question 1: (a...

Question 1: (a) Critically discuss the concept "Communications Strategy". Support your answer with relevant examples. (b) Using relevant examples, explain the term "Sales

Potential advantages for wv8 of decentralising the cis, WV8 is a large not...

WV8 is a large not for profit (NFP) public sector organisation responsible for organising the operation of publicly financed schools within its region. WV8 receives its income sole

Describe the desirable features of redesigned remuneration, The company 2TW...

The company 2TW manufactures and sells products overall Europe and is organised into dozens of strategic business units (SBUs). SBU managers, who report to regional directors, have

International marketting, define international marketting and furnish its f...

define international marketting and furnish its features?

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