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Two Cournot duopolists produce in a market with demand p=100-q. The marginal cost for Firm 1 is constant and equals 10. The marginal cost for Firm 2 is also constant and equals 25. The fixed cost is zero for both firms. The two firms want to merge. They argue for the merger on the grounds that marginal production costs would fall to 10 for all units of output after the merger since all production woul be at the low marginal cost. Given this information determine whether an antirust enforcement agency that blocks any merger that reduces Total Surplus would allow this merger. Given this information determine whether an antirust enforcement agency that blocks any merger that reduces Consumer Surplus would allow this merger (Hint: You need to determine the premerger Cournot equilibrium and the postmerger monopoly outcome. Remember that the Consumer Surpolus is equal to the area under the demand curve above the equilibrium price. the area of the righ triangle isside1*side2/2
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Suppose demand function has changed t0o Qd2 = 14-P. What is the new equilibrium price and quantity. Show your work
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Assume the Federal Reserve sells government securities from its existing holdings to the financial sector and the non-bank public.
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Your firm operates three plants. The cost functions vary across the three plants. Plant A: Marginal Cost = 6Q Average Variable Cost = 3Q Average Fixed Cost =1000/Q Plant B: How much output should be produced at each plant?
The public's preference is to hold their money as half cash, half demand deposit. Reserve requirement is 25%. Determine monetary multiplier.
Illustrate why is it difficult for the Fed to decide whether or not to change its interest rate target in the federal funds market.
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