What are the general principles involved in setting, Operation Management

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What are the general principles involved in setting

What are the general principles involved in setting royalties? What are the specific goals of the sellers? The buyers? What are the three market structures we see in oil, and what are the potential benefits and problems with each? What variable will firms use to judge where to place their money? What problems can lead to an imperfect collection of royalties? How do royalties differ from taxes? Discuss the particular example of gold in Ghana.

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