Collusion between firms is: A merger of two sellers Regulatory restrictions on the entry of new sellers into an industry Agreements between sellers to increase their market power Cooperation between sellers to increase the level of competition
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- Antitrust enforcement is controversial mainlybecausea. cooperative domestic firms are best equipped todeal with international competitors.b. some business practices that seemanticompetitive may in fact have legitimatepurposes.c. excessive competition can drive some firms out ofbusiness, causing job losses.d. vigorous enforcement can reduce businessprofitability, lowering shareholder value.What are the characteristics of EACH of the TWO marketstructures? Characteristic Perfectly competitive market and Monopoly marketBarriers to entryControl over price Number of firmsBarney is a game designer but being old fashioned, he restricts his passion to creating board games. His latest game, Rubble Trouble, requires players to overcome various obstacles as they make their way around the board. Barney is concerned that others may copy his game. Based on your reading of the Business Law Textbook. Barney is best advised to protect his game by: Select one: a. Applying for a patent so that he is granted a monopoly over selling his game for 20 years. b. Registering his copyright, as copyright will protect his game for 50 years. Unless he registers his copyright, Barney will not be able to prevent others from copying his game. c. Registering a trademark. The trademark will prevent others from copying the game for 15 years, but trademarks are not renewable. d. Registering an industrial design, so that others will be prevented from creating board games of the same dimension and size.
- The market for fidgets has only three firms, (A, B, and C), that compete in quantities. The market shares of the firms are sA = 60%, sB = 30%, and sC = 10% respectively. The demand in the market is P = 1 − Q. The marginal cost of firm A is zero. (a) Calculate the HHI in this market (in the year of your data). (b) Suppose that firm B buys firm C. (i) What type of merger would this be? (ii) According to EU rules (on HHI level and change), would this merger be concerning? (iii) According to US rules (on HHI level and change), would this merger be concerning? (c) Call the merged firm BC. Suppose that, after the merger, A and BC compete a la Cournot again and the market shares of the firms are in equilibrium sA = 60% and sBC = 40%. What must be the marginal cost firm BC? Comment on your answer2. Film producer S costs c=20 to produce one film. B, an online movie distributor, earns v=120 if the movie is distributed. In order for B to distribute the movie, it must be purchased from S. If there is no transaction between S and B, each earns a profit of zero. Find the sum of S's profit and B's profit by the transaction price formed when S and B's bargaining power is 50:50.Choose the most appropriate answer. 1.1 Read the following extract and answer question 1.1, 1.2. Evidence of dominationBoth the Competition Commission and Icasa found, in their inquiries, that Vodacom and MTN are dominantacross the supply chain. Their dominance is even more entrenched by the spectrum-sharing deals that they haveentered into with Cell C, Liquid Intelligent Technologies and Rain. Cell C is wholly reliant on MTN and Vodacomto provide mobile services, and Liquid and Rain are disincentivised from competing aggressively in the mobilemarket due to the lucrative deals they have struck to provide capacity to either Vodacom or MTN, or both. Thishas limited their ability to compete independently – leaving Telkom as the only entity in the position to be able tochallenge the “cosy” market structure head-on.Source: https://techcentral.co.za/mcleod-is-wrong-about-telkom/110373/Accessed: 19/08/21 The economic argument being expressed in this extract is that of __________ and has the…
- Firms J and K produce compact-disc players and compete againstone another. Each firm can develop either an economy player (E)or a deluxe player (D). According to the best available marketresearch, the firms’ resulting profits are given by the accompanyingpayoff table.a. The firms make their decision independently, and each is seeking itsown maximum profit. Is it possible to make a confident predictionconcerning their actions and the outcome? Explain.Firm KE DE 30, 55 50, 60 Firm JD 40, 75 25, 50b. Suppose that firm J has a lead in development and so can move first.What action should J take, and what will be K’s response?c. What will be the outcome if firm K can move first?In recent years bubble tea has become a craze among Singaporean consumers, leading tomany new firms entering this market either as new Singaporean startups or as establishedfirms from aboard. There are now over 50 competitors in Singapore each of which sell theirown variations of bubble tea with different flavours, colours, ingredients and packaging.Using the theory and models of market structure, examine this industry. Should governmentbe worried about any aspect of how an industry with this market structure will perform?ANS ME ! 1 In a completely serious market, the interaction of section or leave closes when a. Firms are working with abundance limit. b. Firms are making zero monetary benefit. c. Firms experience diminishing minimal income. d. Cost is equivalent to minor expense. 2. Harmony amounts in business sectors described by oligopoly is a. Lower than in imposing business model business sectors and higher than in completely serious markets. b. Lower than in imposing business model business sectors and lower than in completely serious markets. c. Higher than in imposing business model business sectors and higher than in completely serious markets.
- Suppose a manufacturer and its retailer face the problem of double marginalization. If the manufacturer sets the wholesale price equal to its marginal cost c and in addition, requires the retailer to pay a fraction α (between 0 and 1) of its profit. 4.a Write down the retailer’s profit maximization problem. Will this practice solve the double marginalization problem? (That is, will this practice maximize their joint profit?) 4.b Suppose the retailer is required to pay a fraction of α of its sales (i.e., total revenue). Write down the retailer’s profit maximization problem. Will this practice solve the double marginalization problem?The National Football League has long-term leases with the stadiums in major cities. Control of these stadiums is an entry barrier to a potential new football league. True False Suivant(Collusive Duopoly Model) There are two firmsproducing widgets. It costs the first firm q1 dollars to produceq1 widgets and the second firm 0.5q2 2 dollars to produce q2widgets. If a total of q widgets are produced, consumerswill pay $200 q for each widget. If the two manufacturerswant to collude in an attempt to maximize the sum of theirprofits, how many widgets should each company produce?