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Consider the rivalry between Airbus and Boeing to develop a new commercial jet aircraft. Suppose Boeing is ahead in the development process and Airbus is considering whether to enter the competition. If Airbus stays out, it earns zero profit, whereas Boeing enjoys a monopoly and earns a profit of $1 billion. If Airbus decides to enter and develop the rival airplane, then Boeing has to decide whether to accommodate Airbus peaceably or to wage a price war. In the event of peaceful competition, each firm will make a profit of $300 million. If there is a price war, each will lose $100 million because the prices of airplanes will fall so low that neither firm will be able to recoup its development costs.
Construct the extensive form (tree diagram) to analyze this game. Label appropriately
Assume that in short-run equilibrium, a particular monopolistically competitive firm charges $10 for each unit of its output and sells 48 units of output per day. The average total cost (ATC) for those 48 units is $4. What will be its economic profit..
It is observed that in an area with a lot of illegal immigration, the average wage of native born workers actually increased. Explain how this could have happened, using economic logic. Also, judge whether this is good or bad for the local economy.
Henry Striker manages a frosty boy drive-in. His straight-time pay is $10 per hour, with time and a half for hours in excess of 40 per week. Strikers payroll deductions include withheld income tax of 8%, OASDI of 6.2%, Medicare of 1.45% and a weekly ..
Why is knowing the product demand so crucial for a firm? Give an example of a business that poorly estimating the demand of its products.
You are the president of a commercial bank that is also a member of the federal Reserve System, and you wnat to increase your bank's reserves. but you currently have negative excess reserves, how would you raise your bank's reserves? what effects wou..
The use of real options in capital budgeting a. may raise the NPV of a capital project b. makes the anlaysis of the project considerably easier c. allows for the management to make decisions more quickly d. eliminates the need for calculating the pro..
Discuss how a purely competitive firm might gain market power (and therefore no longer be a purely compettiive firm). Be detailed and specific. Why would a firm wish to gain market power? How would the firm's success in gaining market power affect th..
Suppose that you receive an inheritance and your consumption of sushi increases.
The Legal Environment: Business Law and Government Regulations Include an Overview and Conclusion as to what was covered and learned through these weeks
You recently received word that Sunnydale’s neighboring town, Shadyville, reported an incidence rate of 10 new cases per 100,000 residents annually for cryptosporidiosis. Residents have two contingency plans to possibly lower the Cryptosporidium rate..
q.consider a solow growth model with cobb-douglas construction depreciation rate delta savings rates population growth
If a binding minimum wage were now imposed
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