nov 9th - perfect competition(assume firm/country is...

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find a economist and research their lives and theories. what is their most important theories. one page if it is single spaced, just an outline, main info, where he studied, what is his contribution, evaluate if it worthwhile one distinguishing feature one decision’s will affect others interdependence key example of tactics, strategies, moves, and countermoves lee I coka QUESTION ON CONCENTRATION RATIOS different models of oligopoly Cartel graphic representation cartel are not legal because they are trying to monopolize, they segmented the market
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Unformatted text preview: perfect competition (assume firm/country is covering at least AVC) if cartel is organized to raise price then industry Quantity must be cut back, by fixing quotas for each supplier in the case of OPEC each country set a quota if each country is allocated a quantity, at price 1, the new demand curve facing the firm is demand 1 (which is simply a slice of the industry demand curve) restrains trade Price Leaders...
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