Which of the following is NOT one of the four types of regulations demanded by industries? а. Policies that incentivize the entry of new rivals. b. Policies that harm substitutes O c. Price Fixing d. Direct subsidy.
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- Consider a single country and a single good. The demand curve for this good is given by QD = 144 - 4P. Thereare two firms serving the market: Firm A and Firm B, where Firm A has a marginal cost of $20 and Firm B hasa marginal cost of $16. There are no fixed costs incurred by either firm. Under which competition, Cournot vs. Bertrand, social welfare is higher? Show your work.In some industries, securing the adoption of an industry standard that is favourable to one’s own product is an enormous advantage. It can involve marketing efforts that grow more productive the larger the product’s market share. Microsoft’s Windows is an excellent example.2 The more customers adopt Windows, the more applications are introduced by independent software developers, and the more applications that are introduced the greater the chance for further adoptions. With other products the market can quickly exhibit diminishing returns to promotional expenditure, as it becomes saturated. However, with the adoption of new industry standards, or a new technology, increasing returns can persist.3 Microsoft is therefore willing to spend huge amounts on promotion and marketing to gain this advantage and dominate the industry. Many would claim that this is a restrictive practice, and that this has justified the recent anti-trust suit against the company. The competitive aspects of this…Economics An incumbent firm, Firm 1, faces a potential entrant, Firm 2, with a lower marginal cost LOADING... . The market demand curve LOADING... is p=220−q1−q2. Firm 1 has a constant marginal cost of $40 per unit, while Firm 2's is $10. Part 2 To block entry, the incumbent appeals to the government to require that the entrant incur extra costs. Part 3 Suppose that the legal intervention imposed by the government leaves the marginal cost alone (at $10 for Firm 2) but imposes a fixed cost. What is the minimal fixed cost that will prevent entry? Part 4 The minimum fixed cost (F) that will deter entry is F=$enter your response here.
- which best characterizes the reason why electricity was deregulateda) new technologyb) x inefficiencyc) foreign competitiond) economies of scaleSuppose that a lunar mining company discovers a new kryptonite deposit on the moon . This discovery allows it to have monopoly power in the market for kryptonite back on Earth. This source of monopoly power is due to Question 7 options: copyrights diseconomies of scale product differentiation exclusive control of a raw material trade barriersA vertically integrated firm has 2 divisions; upstream and downstream divisions. The upstream division produces chemical Y, whose average total cost is ATCU = 10 + 2QU, where QUis the quantity of Y. The downstream division has its own average total cost of ATC = 20 + 3Q where Q is the quantity of the firm’s final product. There is no external market. What is the transfer price (PU)? Question 55 options: PU = 10 + 2QU. PU = 10 + 4QU. PU = 20 + 3QU. PU = 20 + 6QU. None of the above.
- Explain with practical examples four problems that could prevent regulation from leading to the optimal allocation of resourcesA large share of the world supply of diamonds comes from Russia and South Africa. Suppose that the marginal cost of mining diamonds is constant at $1,000 per diamond, and the demand for diamonds is described by the following schedule: Price ($) Quantity (diamonds) 8000 5000 7000 6000 6000 7000 5000 8000 4000 9000 3000 10000 2000 11000 1000 12000 a) If there were many suppliers of diamonds, what would be the price and quantity? b) If there were only one supplier of diamonds, what would be the price and quantity? c) If Russia and South Africa formed a cartel, what would be the price and quantity? If the countries split the market evenly, what would be South Africa’s production and profit? What would happen to South Africa’s profit if it increased its production by 1,000 while Russia stuck to the cartel agreement? d) Use your answers to part (c) to explain why cartel agreements are often not successful.Indicate whether the statement is TRUE, FALSE, or UNCERTAIN and explain why. 1. A firm is a monopolist in the market for good X. The government has perfect information about the marginal and average cost curves of this firm and also has perfect information about the demand curve for good X. Claim: The economy will reach an efficient outcome if the government sets a price ceiling that makes the price equal to the marginal cost, evaluated at the quantity where the marginal cost intersects the demand curve.
- Mathematics for Business and Economics A certain good has its average revenue curve as, AR = 22 - 12Q and supply curve as, P= 3 + 20Q. a) Assuming pure competition and using integration, calculate the consumer surplus. b)Assuming pure competition and using integration, calculate the producer surplus.CS 7 Economics Consider product X with industry supply given by p = 4 + 2q, and industry demand given by p = 20 - 2q. If the government sets a cap on production in this industry of 2, what is the deadweight loss?_______ Because it has not been around long enough toestablish itself, the Russian automobile industrycould be classified as a(n)a. hopeless industry.b. soft industry.c. infant industry.d. protected industry.e. toddler industry
