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1. Describe a sequential game facing your firm, and represent it in extensive or tree form. Compute and analyze the equilibrium of the game. What advice can you derive from your analysis? Compute the profit consequences of the advice.
2. Describe a repeated bargaining game your firm faces, compute and analyze the equilibrium of the game, and explicitly show how it differs from the one-shot (nonrepeated) equilibrium. What advice can you derive from your analysis? Compute the profit consequences of the advice.
3. You want to invest in a hot stand near the ballpark. You have a .35 probability that you can turn your current $15,000 into $50,000 and a .65 probability that fierce competition will drive you to ruin, losing all your money. If you decide not to enter, you keep your $15,000. Would you enter the market, why or why not?
Compute the monopoly equilibrium. Compute the consumer surplus. Assume this firm practices two-parts tariffs, Compute the optimal output.
There are 10 identical firms that have the common cost function c(y) = y 2 + 9. The industry demand function is given by X (P) = 200/
The U.S. government spends over $15.8 billion on its Food Stamp Program to provide millions of Americans with the means to purchase food.
Perfect competition guarantees allocative efficiency. A profit-maximizing monopolist can never be allocatively efficient.
Make a short paper which relates how specific material from economic course where we cover supply and demand, elasticity and etc.
Compute the equilibrium interest rate. Compute the amount of investment demand, private saving, and national saving at the equilibrium interest rate.
What are the FC, ATC, AFC, AVC and MC at these output levels?
Which of the following is true for perfect competition, monopolistic competition, and monopoly?
Suppose that workers and firms could always predict next year\'s price level with perfect accuracy.
What is your marginal revenue and marginal cost functions? To maximize profits, how much should you produce at plant 1? At plant 2? What is the price that maximizes profits?
For each of the following concepts provide a definition, a complete explanation as to their significance, and a practical example.
During the period of airline regulation, the government set airline fares and regulated an air carrier's entry into and exit from particular markets.
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