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In the Stackelberg model we saw in class there were two firms 1 and 2.
Suppose that the market demand is p(Q) = 60-Q, where as in class Q is the aggregate quantity. The const function for firm 1 is c1(q1) = 10q1 and the cost function for firm 2 is c2(q2) = q2.
Firm 1 is the leader and Firm 2 is the follower.
(a) Solve for the follow's reaction function, and the leader's maximization problem.
(b) Describe the Stackelberg equilibrium and solve for the Stackelberg equilibrium outcome. Compute each firm's profit.
Suppose that a technophile is willing to pay $800.00 now for a new iPhone 11, but is only willing to pay $400.00
An oligopoly market consists of:
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A photoelectric surface has a work function of 2.00 eV. What is the threshold frequency of this surface?
Mary plans to attend college and to pay her own way. Mary's parents of course, want to help her out financially and are trying to decide how best to do it. They want to do whichever will please Mary the most. Using indifference curve analysis, help M..
Consider the experiment of drawing two cards without replacement from a deck consisting of only the ace through 10 of a single suit (e.g., only hearts).
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If a firm experiences diseconomies of scope, then it:
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