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The 2 major players in the disposable diaper market are Proctor and Gamble (40% of market) and Kimberly Clark (about 35% of the market). Both companies have undertaken costly research and development campaigns to gain a competitive edge- undercutting the rest of the market, increasing market share and increasing profits. R and D is costly so firs and must balance the benefits and costs of the undertaking. Complicating matters is the Rand D program of the rival firm. If neither firm does R and D, then Kimberly Clark earns a profit of 30 and Procter and Gamble earns a profit of 70. Suppose R and D costs 25 to undertake. If both firms do R and D, then neither gains an advantage and both bear the 25 R and D expense which lowers profits. The payoff matrix is given below: A. Does Proctor and Gamble have a dominant strategy? What is it? Explain
B. Does Kimberly Clark have a dominant strategy? What is it? Explain
C. What will be the outcome of the "R adn D Game"?
A New York Times editorialist recently advocated a cut in the payroll tax.
q.in a particular monopoly the demand equation is given by yp 5p1. what is the price elasticity of demand?2. what is
Bob consumes two commodities: x and y. For what values of py will Bob buy y, and for what values of py will Bob buy only x?
Draw the inter temporal budget constraint. Be sure to label the axes, endowment point and the absolute value of the slope. Suppose that the individual’s interest income is taxed at 25% in both periods, and that interest payments are deductible at 25%..
q.smith and jones are stranded on a desert island. each has in his possession some slices of ham h and cheese c. smith
Eggebeen et al. (2010) found that men who at some point in their lives as fathers are more likely to have altruistic social relationships and be involved in community service organizations. The result was reported in the popular press (Jacobs 2009) a..
A firm has two plants, one in the US and one in Mexico and it cannot change the size of the plants or amount of capital equipment. This wage in Mexico is $5. The wage in US is $20. Given current employment the marginal product of the last worker in M..
Nobody likes pollution (or crime, or accidents)! But economists, as they so often do, bring a different perspective to the issue of pollution. Assume that a paper plant dumps the chemicals it uses in making paper into the river it is located next to,..
Explain how the “incidence” (i.e. “Who pays the tax”) of a per-unit tax on transactions depends upon the slopes of the supply curve and the demand curve. You may utilize graphical analysis to explain your answer as well
The market for autographs by a superstar baseball player during the 1950s and 1960s indicates that while the player’s autograph is not rare it remains highly desirable and of relatively high price to collectors. Use one graph to show both the demand ..
MPC = 0.75. Calculate the spending multiplier and the tax multiplier. Spending multiplier = 2.5. Calculate the MPC and the tax multiplier. Tax multiplier = 4.0. Calculate the MPC and the spending multiplier
A road building contractor has received a major highway construction contract that will require 50,000 m^3 of crushed stone each year for 5 years. The stone can be obtained from a quarry for $7.80/m^3. As an alternative, the contractor has decided to..
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