. Consider the iron ore production industry

. Consider the iron ore production industry

Question # 00110172 Posted By: solutionshere Updated on: 09/30/2015 02:20 PM Due on: 10/30/2015
Subject Economics Topic General Economics Tutorials:
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. Consider the iron ore production industry, and assume that there are just two producers, FM and BHP. Initially assume that both firms are identical in terms of their production costs. If the two firms can cooperate, what should they do in order to maximise industry profits? How does your answer change if: (i) price discrimination is feasible; or (ii) the two firms have different costs of production? If you are working as a consultant for the ACCC, how would you view cooperation between the two iron ore producers?

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    Tutorial # 00104600 Posted By: solutionshere Posted on: 09/30/2015 02:20 PM
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