Suppose that 3 countries who form a cartel agreed to divide, Econometrics

+44 141 628 6080
[email protected]

Suppose that 3 countries who form a cartel agreed to divide

Suppose that 3 countries who form a cartel agreed to divide the oil market equally. Demand for oil is given by P=50-.1Q where P is the price of oil in dollars per barrel and Q is the Quantity in thousands of barrels per day. Each of the 3 countries in the cartel has marginal cost given by MC=30. What is the price of oil and quantity of oil produced by each cartel mamber?

Request for Solution File

Ask an Expert for Answer!!

Econometrics: Suppose that 3 countries who form a cartel agreed to divide

Reference No:- TGS0568038

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Econometrics

Q : With my thinking if a company is unethicalirresponsible in

With my thinking, if a company is unethical/irresponsible in their business practices, what makes us think they treat investors differently?

Q : How does the company compare in profitability with

How does the company compare in profitability with competitors?

Q : I have been asked to make a labelled drawing of a

I have been asked to make a labelled drawing of a plant-likeprotist (using the Euglena as the example), which I have done

Q : For each of these three chemicals state how the parity rule

For each of these three chemicals, state how the "parity rule" is (or is not) obeyed by the MS data. If this question cannot be answered for a chemical, state briefly why not (for example, what additional data would be needed or why the situation

Q : Suppose that 3 countries who form a cartel agreed to divide

Q : Analyze how the reforms of mikhail gorbachev led to the

Analyze how the reforms of Mikhail Gorbachev led to the breakup of the Soviet Union. Point out what events led to the ascendency of Gorbachev to party leadership, and then identify and analyze Gorbachev's reforms.

Q : Suppose that demand for cartels oil is given by p50-1q

Suppose that demand for cartel's oil is given by P=50-.1Q where P is the price per barrel and Q is the quantity produced in barrels. If the cartel's aggregate marginal cost is given by MC= 10+0.2Q what is the cartel's profit maximizing price of oi

Q : Find the optimum number of units to be produced in one

Find the optimum number of units to be produced in one batch (economic production quantity). Round the number to nearest integer.

Q : Analyze how nationalism and militarism contributed to the

Analyze how nationalism and militarism contributed to the outbreak of World War I.

1950812

Questions
Asked

3,689

Active Tutors

1452871

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Econometrics: Suppose that 3 countries who form a cartel agreed to divide

Reference No:- TGS0568038

Have a Question? (oR Write a Review)

Recent Questions Asked Econometrics

Q : With my thinking if a company is unethicalirresponsible in

Q : How does the company compare in profitability with

Q : I have been asked to make a labelled drawing of a

Q : For each of these three chemicals state how the parity rule

Q : Suppose that 3 countries who form a cartel agreed to divide

Q : Analyze how the reforms of mikhail gorbachev led to the

Q : Suppose that demand for cartels oil is given by p50-1q

Q : Find the optimum number of units to be produced in one

Q : Analyze how nationalism and militarism contributed to the

How are schools important in the struggle for power

Discussion about cultural appropriation

How sociological models help understand mental illness

Discussion about idea of the tramp stamp

What cases does female status tend to be highest

Identify problems and concerns that contributed

What is meant by indigenismo

Request for Solution File

Ask an Expert for Answer!!

Econometrics: Suppose that 3 countries who form a cartel agreed to divide

Reference No:- TGS0568038

Recent Questions Asked Econometrics

Q : With my thinking if a company is unethicalirresponsible in

Q : How does the company compare in profitability with

Q : I have been asked to make a labelled drawing of a

Q : For each of these three chemicals state how the parity rule

Q : Suppose that 3 countries who form a cartel agreed to divide

Q : Analyze how the reforms of mikhail gorbachev led to the

Q : Suppose that demand for cartels oil is given by p50-1q

Q : Find the optimum number of units to be produced in one

Q : Analyze how nationalism and militarism contributed to the

Asked Questions