Explain How South Korea's Import Ban on U.S. - Management Assignment Help

Assignment Task:

Task:

Some points of attention: o Prepare ppt presentation. (lor2 slides maximum for each question) o Structure your presentation (introduction, thesis, explanation and conclusion). o Use graphs, pictures e.o. o Time management: number of slides, clean line of thoughts in order to streamline the discussion. 
Assignment D2 
South Korea resumes U.S. Beef Imports. 
South Korea will reopen its market to most U.S. beef South Korea banned imports of U.S. beef in 2003 amid concerns over a case of Mad Cow disease in the United States. The ban closed what was then the third-largest market for US. beef exporters. 
1. Explain how South Korea's import ban on U.S. beef affected beefproducers and consumers in South Korea. 
2. Draw a graph ofthe beefmarket in South Korea to illustrate your answer. Identify the changes in consumer surplus, producer surplus, and deadweight loss. 
3. Assume that South Korea is the only importer of U.S beef. Explain how South Korea's import ban on U.S beef affected beef producers and consumers in the United States. 
4. Draw a graph ofthe market for beef in the United States to illustrate your answer (in question 3). Identify the changes in consumer surplus, producer surplus, and deadweight loss. 
Assignment E3 
How to act and react 
Two supermarkets in a remote village, take notice of each other's behavior. They decide simultaneously to advertise or to not advertise. The payoff matrix shows the following profits (x 61000). 
Supermarket Jumbo 
No advertising Advertising No advertising 1.600: 1.600 1.000; 1.750 Supermarket AH Advertising 1.750: 1.000 700; 700 
1. Are dominant strategies available? Explain by calculating. 
2. Are Nash equilibriums available? Explain. 
3. Is a situation based on the payoff matrix possible that lead to higher profits? Explain by calculating. 
4. How can self-binding contribute to a higher profit? Explain. 
 

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