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An industry consists of two firms, Firm 1 and Firm 2. The inverse market demand for a homogenous product is given by P=100-q1-q2, where q1 is the output produced by Firm 1, q2 is the output produced by Firm 2, and P is the market price of the product. Firms have asymmetric costs, particularly the per unit operating cost of Firm 1 is 10 and the per unit operating cost of Firm 2 is 15. Assume the firms compete simultaneously in quantities and determine firms' profits and quantitates under collusion. Does collusive behavior increase social welfare (i.e., answer by comparing your results with the Cournot equilibrium results)?
Consider that content with the steady pace of economic recovery, the Federal Reserve Bank decides to undertake a large-scale asset sale resulting in a decrease in money supply. What would be the effect of such a policy on equilibrium interest rate in..
What kinds of resources can be shared between Linux servers using Samba and Windows clients?
Provide an overview of its trend and use facts to highlight the major changes in its trend and current status. Why does it represent a challenge for the economy
List the ISP/Telco-provided IPv6 Network prefixes. List the link local prefixes. Describe one method to run both IPv4 and IPv6 in the same network.
Suppose that the government decides to impose a tax on the producers of potato chips. How will the tax affect the potato chips prices and the quantities sold? Explain using demand and supply curves.
Find two (2) examples of businesses in your local community that attempt to disclaim liability for damage to or loss of bailed property (usually, the disclaimer is in the form of a sign behind a cash register, or language on a ticket stub.) Examples ..
Considerable attention is given to the basic trends as well as research and policy issues related to monitoring and evaluating health care access. Monitoring and evaluating access allows us to (1) predict use of health services, (2) promote social ju..
Based on data from the General Household Survey and the Expenditure and Food Survey, researchers from the University of Sheffield estimated an elasticity figure
Consider a small open economy in the short run where the government imposes trade tariffs on corn. (a) Given a floating exchange rate sketch a graph of the impact of the tariffs on IS-LM. (b) With a floating exchange rate how does the trade tariffs i..
A bank has $500 million in checkable deposits, $600 million in savings deposits, $400 million in small time deposits.
Discuss your memories of inappropriate fan and athlete behavior. What was it? When was it? Why was it inappropriate?
A. Define the convexity axiom. B. If preferences are NOT convex, what does this imply about indifference curves?
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