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Question: Consider a homogeneous duopoly market where two firms compete in prices (Bertrand). De- mand is given by D(P) = 16-2P. There are no variable production costs.
a. If the capacity of each firm is 16 units, what are the equilibrium prices?
b. If the capacity of each firm iS 4 units, what are the equilibrum prices!
c. Show there is no equilibrium when the capacity of each firm is 6.
On average, does an increase in taxes raise or lower real GDP If taxes as a percentage of GDP go up 1 percent, by how much does real GDP change Are the decreases in real DDP caused by tax increases temporary or permanent
From the e-Activity, analyze the relationship between the indicators, primarily the inflation rate and unemployment rate. As one indicator changes (increases, decreases, remains static) explain what happens to the other.
Professor Xavier is creating a budget for his recently awarded 9-year research grant. His research requires machinery that has an initial cost of $49993.
Show that in the Nash equilibrium each goes straight with probability of 0.36 (i.e., 40/110). Then show that the expected payoff for each player is negative.
A household splits its $4,000 monthly income between necessity and luxury goods. The average price of necessities is $30 per unit and that of luxuries is $100 per unit. Write the household budget constraint.
Underproduction of Public Goods Suppose point A represents the optimal mix of output-that is, the mix of private and public goods that maximizes society's welfare. Because consumers won't demand purely public goods in the marketplace.
CFO of a company claims that their annual revenue, Rev, (in $1,000) over time grows according to the following model: Revt = Rev0 (1 + g)t, She used the revenue data from the last 10 years and estimated the model as ln Rˆevt = 5.521 + 0.03t- Deter..
What is the current rate of unemployment
Are they likely to make economic profits initially? Can they continue to make economic profits in the long term? Why or why not? Discuss. What advice would you give to Alba and Gavigan to help them make more profit in the long term?
analyze the short run and long cost functions for the low-calorie microwaveable food company given the cost functions
Consider the two regressions in Table 2 based on the U.S. data for 1946 to 1975. (Standard errors are in parentheses.) The objective of Hanushek and Jackson's study was to find out the effect of defense expenditure on other expenditures in the econom..
What are some real-life examples of monopolistically competitive, oligopoly, and monopoly markets? How do market prices differ between perfectly and imperfectly competitive markets?
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