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

Personal selling process, Personal selling process:  the personal selling ...

Personal selling process:  the personal selling process is a logical sequence of steps that a sales person takes in dealing with a prospective customer. The approach of selling me

Define the term product life cycle, Question 1: Mc Donald is a leading ...

Question 1: Mc Donald is a leading fast food restaurant that operates worldwide. Mc Donald conducts environment analysis to adapt itself to different countries. a) Iden

Explain the key function of marketing communication, Explain the key functi...

Explain the key function of marketing communication Many organisations have evolved without marketing being recognised as a key function, let alone as a core philosophy. There

Illustrate the changing packaging in strategic decision, Illustrate the cha...

Illustrate the changing packaging in strategic decision? Changing the packaging: This may want to take the advantage of a new development like the container invented of la

What are personal factors to find consumer behaviour, What are the personal...

What are the personal factors to determine the consumer behaviour? Personal Factors: A consumer’s decisions are also influenced by his personal characteristics with age,

Down market stretch, what is down market stretch and give some example?

what is down market stretch and give some example?

What are the factors in relationship marketing, What are the factors in rel...

What are the factors in relationship marketing included? As we are involved into the process of maintaining, creating and improving strong, value-laden relationships along with

Promotion mix, Developing a promotion mix is contingent on many factors, in...

Developing a promotion mix is contingent on many factors, including the type of product and the product''s attributes. Which of the four promotional methods-advertising, personal s

What is maximum acceptable price, What is maximum acceptable price? M...

What is maximum acceptable price? Maximum acceptable price: This approach is mainly helpful for setting the price of industrial products that core benefits to the buyer i

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