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Consider a linear city of length 1 in which the consumers are uniformly distributed. There are two firms located at the extremes of the linear city: firm 1 is located at the left-hand extreme, and firm 2 is located at the right-hand extreme. Assume that every consumer will buy one unit of the product, that transportation cost are quadratic (td^2, where d is distance), and that marginal production costs are zero.
-Derive the demands faced by every firm
-Find the equation of the best response function of every firm
-Find the Bertrand-Nash equilibrium set of prices.
The difference between the amount of capital at the beginning of a year and the amount of capital at the end of the year is equal to
Florida Citrus Inc. (FCI) produces and sells a highly popular sports drink in the North American market. For many years, it has sold in the Asian market through a Tokyo-based importer. The contract with the importer is up for renewal, and FCI decides..
explain the future consequences of this action on the economy and the inflation rate. Please indicate the documentation on your research.
The Malthusian population trap model has been criticized on the grounds that it
Two instructors announced that they "grade on the curve," that is, give a fixed percentage of each of the various letter grades to each of their classes. If a random student came to you and said that his object was to enroll in the class in which he ..
Suppose the consumption expenditure is C = $100 billion + 0.9*Y. Investment (I) is $100 billion, government spending (G) is $50 billion and exports (X) are $100 billion. Imports depend on the level of income as follows: M = 0.1*Y. Calculate the equil..
Which of the following best describes the concept of laissez-faire?
Consider a firm using labor and capital as its only inputs. The price of capital is $40 where the price of labor (wage) is $60. Using 500 units of labor and 500 units of capital the firm is producing 1200 units of output. At this mix of input the fir..
q.how to calculate the elasticity coefficient between each of the seven prices and indicate whether the character of
State whether the following decision is a short-run or long-run decision:
Assume that the market for wheat is perfectly competitive, with demand curve P = 5000 ? 0.01QD and a supply curve P = 1+0.1QS. Each identical wheat producer has a total cost curve given by T C = 1+Q+Q2 , which results in marginal cost of MC = 1 + 2Q...
One point made is that most demand curves are downward sloping. Can you think of any situation where an individual's demand curve for a product is upward sloping.
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