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Two oligopoly firms are in the process of evaluating their marketing strategies. Firm 1 can generate estimated profits of $10 million from strategy A if the second firm reacts by strategy C, and $15 million from strategy A if the second firm reacts with strategy D. On the other hand, Firm 1 may follow strategy B which could return profits of $8 million or $9 million if Firm 2 reacts with strategy C or D respectively. The second firm's potential profits are $8 and $12 million from strategy C depending on whether Firm 1 undertakes strategy A or B, and $7 and $8 million form strategy D, depending on whether Firm 1 follows Strategy A or B.
a. Construct the payoff table for the above industry.b. Does each firm have a dominant strategy? What is it?c. Does the industry move toward an equilibrium position? If so, where?
Suppose the total benefit derived from a given decision, Q, is B(Q)=25Q-Q^2 and the corresponding total cost is C(Q) = 5 + Q^2, so that MB(Q) = 25 -2Q and MC(Q) = 2Q What is the total cost when Q=2 and when Q=10
Consider a firm with the same production function of $20 output price when 2 units of output are produced but operating under imperfect competition in the product market. Explain how and why the firms demand curve for labor will compare to that of..
Given PxX + PyY = I and the information in question one above and a point system where px = 2, py = 8 and the number of points available is 450, is the consumer constrained by points If so, what is the consumption point
According to U.S. Census Bureau data (2004), average monthly income for a person with a degree in engineering was $5296 versus $3443 for a degree in liberal arts. What is the future value in 40 years of the incom differnce
A major pension fund is interested in purchasing Barrett's stock. The pension fund manager has estimated Barrett's free cash flows for the next four years as follows: $3 million, $6 million, $10 million, and $15 million.
Assume that Maria Moneybags keeps $1000 in cash in her sock drawer. Over the first year, the inflation rate is 10%. What is the real inflation tax paid by Maria for this year. What is the real inflation tax paid by Maria for the second year
A Canny, Domican and Flannery Ltd. has calculated the following Cross Elasticity of Demand values for a number of its products as follows: Cross Elasticity of Demand between Good A and Good B = + 5 Cross Elasticity of Demand between Good A and Good ..
Consider an economy in which taxes, planned invest-ment, government spending on goods and services,and net exports are autonomous, but consumption and planned investment change as the interest rate changes.
suppose in Fiscalville there is no tax on the first 10000 of income but a 20 % tax on earning between $10000 and $20000 and a 30% tax on earnings between 20000 and 30000. any income above $30000 is taxed at 40%. if your income is $50000.
Abby consumes only apples. In year 1, red apples cost $1 each, green apples cost $2 each, and Abby buys 10 red apples. In year 2, red apples cost $2, green apples cost $1, and Abby buys 10 green apples a. Compute a consumer price index for apples ..
Total annual taxable income is $210,000; tax is: 2. Your company is in the 34% tax bracket; for an additional $32,000, your incremental tax is: 3. Your total taxable income is $64,000; you are considering an investment that will net an additional $..
Suppose that an automobile race track is built several miles from a small town. After the construction is completed it is discovered that the heavy roar from the cars regularly disturbs the 2,500 local residents between the hours of 10:00 PM and 1..
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