1. For this problem use the Herfindahl Index to compute market concentration:
a. Suppose Apple has 45% of the U.S. market share for smartphones, followed by Samsung with 30%, LG with 9%, Motorola with 8%, HTC with 6%, and Nokia with 2%. What is the Herfindahl Index for the smartphone industry based on these numbers? Based on the Herfindahl Index, do you think the government would be willing to approve a merger between Apple and Samsung?
b. Now suppose Nokia and Motorola come out with a new smartphone that takes away a huge chunk of market share from Apple and Samsung. The new market shares are 25% for Apple, 20% for Samsung, 20% for Motorola, 20% for Nokia, 10% for LG, and 5% for HTC.
2. Use what you learned about perfect competition, monopoly, and oligopoly to answer these questions:
a. In the table below is the quantity produced, the price, the fixed costs, and variable costs for a perfectly competitive firm that faces a constant price of $150 for its product regardless of the quantity it sells. Use the information in the first four columns to calculate the number for the last four columns. At what quantity should they produce based on what you find with your results?
b. How do you think your answer might change if it became a monopolist with all of its competitors leaving the market? Or if it became an oligopoly with only one or two competitors?
Quantity Price Fixed Cost Variable Cost Total Cost Marginal Cost Total Revenue Profit/
0 150 200 – –
1 150 200 $140
2 150 200 $240
3 150 200 $320
4 150 200 $410
5 150 200 $520
6 150 200 $650
7 150 200 $810
8 150 200 $1,010
9 150 200 $1,310
10 150 200 $1,710
3. You’ve read about the prisoner’s dilemma in the background readings. Suppose you are a business owner with just one main competitor. If neither you nor your competitor cut your prices, you will both be more profitable. However, if your competitor lowers its prices and you keep your prices high, then you will lose all of your sales to your competitor. Every month you and your competitor place advertisements in the local newspaper with your price – so you need to decide each month whether or not to keep prices high, or lower them based on what you think your competitor might do.
Go to the following webpage and test out some of your potential price strategies:
http://www.gametheory.net/Mike/applets/PDilemma/Pdilemma.html The strategy “defect” indicates lowering your prices. The strategy “cooperate” means keep prices the same. Try out different strategies, such as cooperating all the time or defecting sometimes. There are five different rounds of this game, each with a competitor with different personalities and different strategies. Play all five rounds and experiment with different strategic approaches. Report your scores for each round, and discuss which strategies seemed to work the best for you.
Demise Rituals in Ancient Egypt Distributed: 23rd March, 2015 Last Edited: 27th April, 2018 Disclaimer: This exposition has been put together by an understudy. This isn't a case of the work composed by our expert paper scholars. You can see tests of our expert work here. Any feelings, discoveries, conclusions or suggestions communicated in this material are those of the writers and don't really mirror the perspectives of UK Essays. For my Gordon Rule Paper I have chosen to expound on the Egyptians since I have constantly discovered them intriguing. The essential theme I will examine would be the manner by which the antiquated Egyptians would see, and considered passing, because of how colossally extraordinary we as Americans see demise today. By far most of Americans fear passing more than whatever else. We put everything on the line to guarantee our wellbeing, security, and survival. To us there is nothing more terrible than death, though to each Egyptian demise was viewed as an attractive change, 'the entry of the genuine unceasing life'. Passing was never viewed as a disaster, or a misfortune, yet an appreciated change into the great beyond. Since death was of such a significance; it was essenctial that awesome look after a change to everlasting status. This is a tremendous reason that the Pharaoh's substance of the tomb were of such awesome significance, thus deliberately chose. Egyptians prioritzement on the significance of ceremonies, traditions, and convictions; and in addition engineering can be seen unmistakably in the disclosure of the tomb of King Tutankhamen, or as a great many people know him King Tut. The design that went into each pharaoh tomb was phenomenally mind boggling. Every one was incredibly unique regarding the tombs format, size, and adornments. The tombs structure and design quite often needed to, by one means or another, demonstrate the arrangement, and projection of the nearby planetary group. Miral enhancements in the tomb don't speak to the Pharaohs regular day to day existence, yet rather that of their life following death, and the difficulties the Pharaoh needs to look so as to achieve the Kingdom of Orrises, place that is known for the great beyond. These tombs were terrific, and generally comprised of various rooms, and yards. Tomb dividers were generally stoned lined of limestone segments. This sort of tomb is worked beneath the ground, as more often than not the sanctuary was based at first glance and the entombment regions underneath. The Nile territory was rough, and included numerous bluffs, so these were ideal areas for the making of the tombs specifically in the slope. The most widely recognized house of prayer comprised of an entryway which lead into a transverse lobby, behind which was a passage that ran straight to the substance of the precipice. After some time shake tombs turned out to be more intricate, more ornamental, and smaller as they currently ran straightforwardly into the bluff face, these tombs were the most inspiring of the considerable number of tombs in Egypt, as they included awe inspiring sights, frequently with columns and huge stairways. Shake cut houses of prayer were all the more regularly utilized by Pharaohs, and those of the more extravagant society, as the rough locales of Egypt were most appropriate for the working of these tombs. Tombs contained divider enhancements, which managed the Afterlife, and the way that the Pharaoh will have too take to achieve the kingdom of Orrises. A regal tomb should be possible inside a couple of months for a basic tomb, or for a more bigger, and complex tomb, it could take from six to ten years. Designs fluctuated for every Pharaoh. From expand works of art, to impersonations of papyrus. All writings painted on dividers were cited from 'the considerable mystical religion collections of the time, for example, the Book of the Dead and the Book of the Earth' (Guide to the Valley of The Kings page26, 1996). These otherworldly and religious writings were attracted on the dividers to illuminate the perished, and for the expired to use as a precious device for them to ensure that they had enough information of supernatural nature for them to use amid the Afterlife. The New Kingdom regal tombs highlighted a wide range of roofs and improvements, which included star maps, which showed the ascending of the sun. Setting an internment underneath a sacred image was considered of extraordinary significance for the revival of the body. Writings and illustrations on tomb dividers contained different hues; each shading that was utilized delineates Egyptian customs. Hues, for example, White speaks to Silver, Black spoke to death and unceasing safeguarding and Red speaks to flame and blood. As these hues and portrayals pave the way to the star the life, the expired is painted, including the majority of the perished families life. Today, by and large, we basically cover our friends and family as per their desires, or in a burial ground by other expired friends and family. We cover them six feet under-ground, (regularly) yet simply because that is the negligible profundity a rotting cadaver can be covered without having any impact on the world under-which it was covered. Ordinarily it takes around seven days from the time we bite the dust until the point when we are let go. That permits us a lot of time to pick a decent grave sight, uncover it, lay the dead down, say some kind words, and fill the opening once more. Antiquated Egyptians, then again, took extensively longer.Before a body was covered the way toward preserving occurred for around seventy days. Student of history Heroidotus' recounts three levels of mumification that relied on the amount of riches the expired had. The most costly system was the treating which took after the god Osiris. The custom occurred, generally, inside seventy days. An agreement was drawn up between the embalmers, and the expired family, which indicates the measure of time the preserving methodology will happen. The body would then put on a wooden table and refined by washing the body in an answer of neutron. The brains were expelled from the nasal depression. The mid-region would then be cut, and every one of the organs expelled and afterward sanitized with fragrances. Once the organs were expelled they were put into jugs and set inside the tomb. The body is then loaded down with straw, sawdust, mud or cloth; this helps with holding the perished bodie's shape, and is likewise wrapped with material, as well as gauzes. Egyptian customs and convictions likewise had a basically imperative influence in the number one spot of the perished to the tomb . The custom of the entombment, and its tombs content, happens outside the tomb. The vehicle of the body to the tomb took type of a custom parade that typically started on the East side of the Nile River; After intersection the stream, toward the west, the body was set on a sledge, and attracted by bulls to the tomb. Near the mummy stood two ladies who might regularly mimic the jumping grievers Isis, and Nephthys, who spoke to the spouse and sister of the god Osiris, trailed by grievers of the expired. The last griever in the parade consumed incense and sprinkled drain at the parade as they would proceed on their way to the tomb. Custom artists, known as Mu, and a minister, who respects the perished currently welcome the parade. The antiquated custom of the "opening of the mouth" now happens; this is the most noteworthy piece of the internment conventions, as the motivation behind this function is to reestablish the mummy and their capacity of discourse, sight and hearing. The body has now finished the initial segment of Egyptian ceremonies. At the point when the perished approaches the Entrance of the tomb a cleric who imitates the god Anubis stands the body in an upright position. The cleric currently contacts the mouth of the perished with custom instruments, which presently reestablishes their faculties. The following stage is the offering of garments, treatments and contributions of nourishment so the expired can bring them into the Afterlife. The mummy is presently prepared to be put into it's entombment load, after the entryway is fixed all impressions around the tomb is cleared away and the last customs are perused. The stages paving the way to the entombment of the expired was a vital piece of the Egyptians convictions and customs, as the Egyptians viewed the dead as being particularly alive, living in their tombs like they had already lived in their homes. This connection between the house and the tomb was critical, the tombs sanctuary was usually alluded to 'the place of forever'. Outside the house of prayer it was regular to see lushes greenery enclosures, and tombs encompassing as Cemeteries were wanted to look like smaller than expected urban communities like the one at Giza. All the above convictions and ceremonies were obviously revealed in November 1922 by British paleologist Howard Carter when he found the flawless tomb of King Tutankhamen. Investigation of Tutankhamen's mummy uncovers that he was roughly eighteen years of age when he kicked the bucket. The Kings life is as yet a puzzle right up 'til today as history specialists, for example, Carter trusts that it's relatively difficult to state whether the King was a casualty of ailment, mishap, death or was physically delicate like his past beneficiaries when he passed away. Students of history distinguished the period of his demise to be that of January by dissecting the sorts of foods grown from the ground, for example, the cornflower which were covered with him. The cornflower for the most part achieves development in March, and from these discoveries it is trusted that 'Amenophis III last child kicked the bucket some time in January 1343' (Tutankhamen and the Discovery of the Tomb page 158, 1972). Tutankhamen's tomb includes a straightforward outline, which is run of the mill of the Eighteenth Dynasty. The tomb highlights begins, hallways, and chambers. The ruler tomb has various rooms, for example, the Annexe, Antechamber, Burial Chamber and the treasury and these rooms highlighted noteworthy improvements. Ruler Tutankhamen's tomb was so extraordinary as the fortunes inside the tomb lay undisturbed to criminals, and amid removal Carter recouped more than three thousand five hundred articles, for example, fantastic exquisite furniture, statues, jewelery, and holy places that were put in his tomb to help him through to the Afterlife. The lords demise like different Pharaohs was a stupendous undertaking, and was grieved by all of Egypt . For the most part after a Pharaohs passing there was a three-month interim between his demise and>GET ANSWER