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(Assume firms compete over quantity) Two identical firms are serving a market in which the inverse demand function is given by P = 4002Q (P = 4002(q1 +q2)). The marginal costs of each firm are $40 per unit.
A) show and explain, how the Cournot quantities will change when cost of firm 1, c1 falls to 30? You may skip the calculations for this part, but you must provide the basic intuition.
(e) What is the Bertrand Nash equilibrium outcome? What is the price? What are each firms equilibrium quantities and total equilibrium quantities? What are the total profit and profit per firm?
Hiro Nakamura is CEO of the Cola King Bottling Company, a small regional producer operating in the Pacific Northwest. Nakamura is considering two alternative expansion proposals
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How we justify assumption that individual demand curves have a negative slope. If y do not, then we may not be able to add them to get market demand.
The country of Examplestan has 100,000,000 citizens. 50,000,000 are adults who are employed or are actively seeking work. 2 million have been laid off due to recession 1 million have quit their jobs to look for work in cities with better climates 1.5..
Assume that your current university is the only institution offering online MBA program. Assume also that there are clear advantages of online program over brick and mortar school - such as the flexibility. Which alternative would be better for your ..
Why would a firm in a perfectly competitive market always choose to set its price equal to the current market price? If a firm set its price below the current market price, what effect would this have on the market? Discuss.
Back in the 1950's a piece of gum was 5 cents and today it is $1. Inflation has occured so that does that mean that people can afford to have less gum? Do they have less purchasing power? Explain please.
Compute the arc price elasticity of demand for the price of paperback books falling from $7.00 to $6.50, the quantity demanded rises from 100 to 150.
The ABC Bank of Bermuda has outstanding checkable deposits of $300,000 also a reserve ratio of 10%. If it has excess reserves of $15,000, illustrate what is the size of the bank's actual reserves.
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Explain why in Cross-Cultural Negotiations, the heuristic of availability is a culturally significant bias in a negotiation to sell a computer in a highly feminine society
Illustrate what is equilibrium level of Aggregate Expenditures in this economy. At equilibrium, illustrate what is level of Consumption in this economy.
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