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Author Question: The above figure shows the market for the three moving companies in a small nation. If the movers ... (Read 150 times)

a0266361136

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on: Jun 29, 2018
The above figure shows the market for the three moving companies in a small nation.
 
  If the movers act as perfect competitors, what is the price per mile and the number of miles per year? If the movers collude and act as a single monopoly, what is the price per mile and the number of lines per year?

Question 2

Bo's actions would
 
  A) have no impact on the September unemployment rate or the October unemployment rate.
  B) raise the September unemployment rate and lower the October unemployment rate.
  C) raise the September unemployment rate and not change the October unemployment rate.
  D) classify him as out of the labor force in September.
  E) raise the September unemployment rate and the October unemployment rate.


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braelync

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Reply #1 on: Jun 29, 2018
Answer to Question 1

If the movers compete, production will be where the demand and supply curves intersect, 300 million miles of moving per year. The price will be 8 per mile. If the movers can successfully collude, then production is at the point where MR = MC, only 200 million miles of moving per year, and the price is 12 per mile.

Answer to Question 2

B


a0266361136

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Reply #2 on: Jun 29, 2018
Thank you


braelync

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Reply #3 on: Jun 29, 2018
No problemo


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