ECON 101 SEU Effects of Low Price Guarantee on The Price Discussion
Question Description
- Explain the effects of low price-guarantee on the price. (1.5 Marks)
- If a group of sellers could form a cartel, what quantity and price would they try to set? (1.5 Marks)
- What do you understand by discriminatory monopoly? Bring out the conditions that enables the monopoly firm to charge different prices for its product in different markets. (2 Marks)
4 -Topic: Market Power
Write a one to two page paper, addressing the following:
a. Describe in your own words the concept of market power.
b. What are the three reasons that a market might have a Monopoly?
c. Give an examples of two monopoly Firm
exercising its market power.
2. Post the above introduction to the Class Discussion Board.
3. Respond to the postings of two of your classmates
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