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- Why firms resist peak load pricing under cost of service regulation?Should competition authorities prohibit vertical mergers that lead to higher input prices?A producer of ballpoint pens has been purchasing ink from an ink supplier and is considering acquiring the ink supplier. Would the pen company be more or less likely to vertically integrate by buying the ink manufacturer if the government taxes ink?
- Two local ready-mix cement manufacturers, Here and There, have combined demand given by Q = 105 - P. Their total costs are given by TCHere = 5QHere + 0.5Q?Here and TCThere = 5QThere + 0.5Q²There- If they successfully collude, their total output will be:How do we measure a Herfindahl-Hirshman Index? What does a low measure mean about the extent of competition?Graphically illustrate and explain the impact of new entrants on the market for cement in South Africa.
- Two local ready-mix cement manufacturers, Here and There, have combined demand given by Q = 105 – P. Their total costs are given by TCHere = 5QHere + 0.5Q2Here and TCThere = 5QThere + 0.5Q²There- If they cannot successfully collude and instead produce where the market price equals marginal cost, each firm's profits will be:How was De Beers able to control the world price of diamonds over the past several decades even though it produced only 45 percent of the diamonds? What factors ended its monopoly? What is its new profit strategy?American Airlines and British Airways are proposing to merge. If British pilots and American pilots are represented by different unions, how would this merger affect airline costs? Please, explain.
- Two dairy farmers produce milk for a local town with local milk demand given by Q=100-0.3333333333P(P denotes price measured in Rands, Q denotes the quantity measured in liters). Both farmers have the same cost function given by TC=150+2q(wheredenotes output). (h) What if farmer 1 is a leader and farmer 2 a follower, determine the price, quantity and profits made by these two farmers.Suppose that a manufacturer produces two brands of a product, brand 1 and brand 2. Suppose the demand for brand 1 is x = 88 – p, thousand units and the demand for brand 2 is y = 98 – p, %D thousand units, where p, and p, are prices in dollars. If the joint cost function is C = xy, in thousands of dollars, how many of each brand should be produced to maximize profit? brand 1 thousand units brand 2 thousand units What is the maximum profit? thousand dollars Need Help? Read It Watch Itan American multinational that sells consumer electronic products, has manufacturing facilities in three countries: Brazil, Thailand, and Canada. The average hourly wage rate, output per worker, and annual overhead cost for each location are as follows: Given the above figures, is Storm currently allocating its production resources optimally? If not, what should it do? Justify your answer. Now, suppose that Storm is planning to consolidate all its manufacturing into one facility. Where should it locate? Justify your answer.