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svetlana [45]
3 years ago
7

For each market listed below, determine whether it is best characterized as a Cournot oligopoly, Stackelberg oligopoly, or Bertr

and oligopoly.
a. Oil production. Each firm produces output independently and the market price is determined by the total amount produced.

i. Stackelberg oligopoly
ii. Cournot oligopoly
iii. Bertrand oligopoly
b. Diamond production. DeBeers is the leader that sets diamond production, and smaller firms follow with their own levels of production.

i. Stackelberg oligopoly ii. Cournot oligopoly iii. Bertrand oligopoly
c. Competitive bidding by identical contractors. The contractor bidding the lowest fee wins the contract

i. Cournot oligopoly
ii. Bertrand oligopoly
iii. Stackelberg oligopoly
Business
1 answer:
Semenov [28]3 years ago
3 0

Answer: A. Cournot Oligopoly B. Stackelberg Oligopoly C. Bertrand Oligopoly

Explanation:

Cournot Model: In Cournot model, firms produce output independently and then set their prices. In this type of model, the products are typically standardized.

Stackelberg Model: In Stackelberg model, there is one firm who is quite dominant and that firm sets the price. Whereas, other firms or the competing lower firms usually follow the price leader.

Bertrand Model: In this model, firms have interaction with buyers in order to set prices and quantities.

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Which of the following is not one of the three conditions that characterizes a perfectly competitive​ market? A. Firms have pric
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Answer: Option A

Explanation: In simple words, perfect competition refers to a market structure in which the the market have a large number of small buyers and sellers.

Due to this high volume of small level buyers and sellers no single party has the power to influence the price. The price in such market are determined by the market forces of demand and supply.

Hence from the above we can conclude that the correct option is A.

3 0
3 years ago
Which countries signed in the North American Free Trade Agreement in 1992?
TEA [102]

The correct answer is Canada, the United States, and Mexico

Explanation:

The North American Free Trade Agreement or NAFTA was an economic alliance between three important countries: Canada, the United States, and Mexico (main countries in North America). Additionally, the purpose of this alliance was to facilitate trade between these countries, and in this way promote the development of the economy in these territories. In terms of history, all countries signed for the agreement in 1992, but the alliance was official only in 1993 because of the opposition of some citizens and groups. Thus, in 1992 Canada, the United States, and Mexico signed this agreement.

4 0
3 years ago
In the 1980s, the U.S. government forced Japanese automakers to limit their exports to the United States. The union representing
never [62]

Answer:

A) save domestic jobs

Explanation:

Domestic jobs: These are the categories of jobs that are available in the national country of the company or within the boundary of the country, which has a preference for the local population and has more responsibility toward national´s resources, however, foreign companies have less responsibility toward national´s resources and their sole motive is to earn profit at a lesser cost.  

In the given case, Japanese company´s export to the U.S have affected the domestic jobs as their motive is to maximize profit, which leads to an argument for protection of domestic job in U.S auto industry, therefore, US government have limited the export of Japanese automaker.

7 0
3 years ago
The following information was taken from the 2021 financial statements of Waterway Industries: Bonds payable, January 1, 2021 $
zalisa [80]

Answer:

the amount reported as proceeds from bond issuance is $4,509,000

Explanation:

The computation of the amount reported as proceeds from bond issuance is as follows

Total Bond Issued during 2021

= Bonds payable, December 31, 2021 - Bonds payable, January 1, 2021 + Bond Payable retired

= $4,830,000 - $809,000 + $807,000

= $4,828,000

Now

Bond issued for cash is

= Total bond issued - Bonds issued in exchange for Equipment

= $4,828,000 - $319,000

= $4,509,000

Hence, the amount reported as proceeds from bond issuance is $4,509,000

4 0
3 years ago
10% of the facility and increase the overall costs of maintaining the space by 11%. If the incremental method were used, what am
xz_007 [3.2K]

Answer:

the  cost that allocated to the start up business is $61,600

Explanation:

The computation of the amount of the cost that allocated to the start up business is given below:

= Manufacturing facility costing × maintaining the overall cost percentage

= $560,000 × 0.11

= $61,600

Hence, the  cost that allocated to the start up business is $61,600

We simply applied the above formula so that the amount could come

3 0
3 years ago
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