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The Telecommunications Regulatory Authority (TRA) is the UAE’s independent industry regulator. Since its launch in 1976, Etisalat has held a monopoly in the market. That changed in 2006 with the emergence of du, which was awarded a 20-year concession to operate fixed-line, wireless, internet and international telecoms services. UAE-based telecom operator recently announced that it was launching Virgin Mobile as a new telecom brand within the country. Assuming the trend continues and the government opens the market for more private and foreign players. You are required to
a). Apply your understanding and concepts to investigate and summarize the major characteristics of the emerging market form in the telecom industry.
b). Describe and analyze the pricing policies that you would expect to find in this industry.
c). Explain the profit maximization strategy of this market form with the help of a suitable graph.
Answer the following:
a). Discuss briefly the supply schedule and the various factors affecting the supply in the market.
b). Assume the demand being perfectly inelastic and supply suddenly doubles due to innovative technique of Illustrate in a well labelled graph, the changes in the equilibrium price, and quantity, and also is it advisable to do so from supplier point of view.
Assess the existing state of the competition for one of certain market in Ethiopia such as
the market for coffee and based on the information collected answer the following questions (5 marks)
a) Characterize the structure of the market in terms of number of sellers, type of the
product, information, barriers to entry, power to affect price, profit potential and
b) To which market structure does the given market fits/resembles? Why?
c) How does the government policy on the sector affected competition? Is there price
fixing and quota system? Describe.
d) What anti-competitive practice has been observed in the sector?
e) Assuming you are managing one of the firm in the market, how do you maximize
profit given the nature of the market?
(a) Define a monopoly and stage its main features.
(b) Why MUL is called a monopoly? Does it enjoy monopoly in car manufacture?
(c) In what way do customers surfer from monopoly practices of MUL.
(d) What do you suggest to remedy the situation?
Assume a firm engaging in selling its product and promotional activities in monopolistic
competition face short run demand and cost functions as Q = 20-0.5P and TC= 4Q2
respectively. Having this information (5 marks)
a) Determine the optimal level of output and price in the short run.
b) Calculate the economic profit (loss) the firm will obtain (incur).
c) Show the economic profit (loss) of the firm in a graphic representation
A special shoe manufacturer ABC Co. has costs of production as follows :
Total Variable Cost ($)0507090140200360
a. ABC Co.’s fixed costs are $100. Calculate average fixed costs, average variable costs, average total costs and marginal costs at each level of production. (2 Marks)
b. Draw the company’s cost curves in a clearly labelled graph. (1 Mark)
c. The price of ABC shoe is $50. What are the company’s profits? In case of loss, should the CEO continue operations or decide to shut-down? Which would be a wise decision? Explain. (1 Mark)
d. The chief financial officer tells the CEO that it’s better to produce only one shoe this month. What could be the reason for this advice by the CFO? What are the firm’s profits at that level of production? Is this the best decision? Explain. (1 Mark)
. Simple random sampling uses a sample of size n from a population of size N to obtain data that can be used to make inferences about the characteristics of a population. Suppose that, from a population of 50 bank accounts, we want to take a random sample of four accounts in order to learn about the population. How many different random samples of four accounts are possible
In the city of Milford, applications for zoning changes go through a two-step process: a review by the planning commission and a final decision by the city council. At step 1 the planning commission reviews the zoning change request and makes a positive or negative recommendation concerning the change. At step 2 the city council reviews the planning commission’s recommendation and then votes to approve or to disapprove the zoning change. Suppose the developer of an apartment complex submits an application for a zoning change. Consider the application process as an experiment.
a) How many sample points are there for this experiment? List the sample points.
b) Construct a tree diagram for the experiment.
Consider a market with two firms. Each firm is located at one end of a line with lenght one.
There is a mass one of consumers. The location of each consumer is given by 0 < x < 1
which is uniformly distributed (with density 1). Firms have no cost of production and set
a) Derive the demand for each firm by identifying the location of the indifferent con-
sumer for each price pair. Assume that all consumers know about both products.
e) Consider again that consumers can only buy after receiving an ad. Suppose there
is an avdertising company that offers the firms to coordinate the targeting of their
ads. The company suggests to inform all consumers with a location between 0 and
0.4 the product of the firm at location 0 and to all consumers between 0.6 and 1
the product of the firm at location 1. Determine the optimal prices for both firms
if they accept this offer. What are the resulting profits?