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Question: Stackelberg Theory of Duopoly. Stackelberg suggested that one firm might increase its profits if it were able to observe its competitors reaction function. Such a firm would then use its competitor's reaction function as its estimate of its competitor's output.
(a) Show that if the first firm substitutes the second firms reaction function of part (a) of the previous problem into its profit equation and maximizes With respect to q1(k + 1), then the equilibrium is unchanged.
(b) In a Stakelberg strategy the two firms are designated leader and follower. The leader, knowing the followers reaction function, reveals its actual planned output to the follower. The follower then uses the value supplied by the leader in its reaction function to determine its output level. The leaders original plan anticipates the follower's response to it. Show that if the first firm is the leader, its equilibrium profit is higher than in the Cournot equilibrium.
BUS 306 Apply the graphical method to find the optimal solution to the linear programming problem - What is the effect of changing the constraint; x2 ≤ 2 to x2 ≤ 5 on the optimal solution found in the previous question?
Find the approximate minimum cost flow for the following network using the math program discussed in class. Solve the three model including the three constraints. Write the math program along with the constraints. Attach the Excel output and the an..
The steps in testing a research hypothesis Comparing the means of two or more groups Calculating the correlation between two variables
consider the following lpmaximize z4x15x23x3subject tox1x24x3le6x12x2x3le7x14x22x3le12a add slack variables x4 x5 and
Find appropriate values for the temperature of the river bed, and of the water and air. For this problem, you can assume that the water has the same temperature at every depth.
1. The Lakeside Boatworks is planning to manafacture three types of molded fiber glass recreational boats-a fishing (bass) boat, a ski boat, and a small speedboat. The estimated selling price and variable cost for each type of boat are summarized ..
Formulate a linear programming model for this problem. Solve the model with Excel Solver. Interpret your solution. If you have the chance to buy additional land at the price of $50 per acre, would you prefer to do so? What if the price would be $70..
problem 1 let fr-gtr be a function fxx if xgt0 x-1 if xlt0evaluate whether f isa u-u continuous.b c-c
Suppose further that tribe B uses twice as much water as tribe A. What is the maximum number of families of each tribe that can coexist in the valley.
Suppose you win the lottery with a jackpot of $10 million. But that's $10 million if you wait 10 years to get your payout. What is the value you could get today if the interest rate is 6%?
What does contributed capital and retained earnings have in common?
A large cone shaped funnel of height 5m and radius 3m contains a chemical mixture. The chemical mixture is being emptied out of the bottom of the funnel at a rate of 0.5 m3/sec. How fast is the depth of the chemical mixture changing when the depth..
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