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Consider the case of exogenous differentiation in a Bertrand Model. There are two firms (1 and 2) with marginal cost equal to zero, and the following demands: Q1 = 1 – p1 + c p2, and Q2 = 1 + c p1 – p2, where c is a positive constant.
-Write the equation of the profit function for every firm.
-Find the equation of the best response function of every firm
-Find the Bertrand-Nash equilibrium.
Consider two Bertrand competitors in the market for brie, Franc ¸ois and Babette. The cheeses of Fran ¸cois and Babette are differentiated, with the demand for Fran ¸cois’ cheese given by qF = 30 − pF + pB , Find the equilibrium price, quantities, an..
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Do you think the price elasticity of demand for Ford sport-utility vehicles (SUVs) will increase, decrease, or remain the same when each of the following events occurs? Explain your answer.
The one year interest rate over the next five years is expected to be 7%, 8%, 9%,10% and 11%. Investors preferences for holding short term bonds have the liquidity premiums for one year to five year bonds as 0%, 0.25%, 0.5%, 0.75%, and 1%, respective..
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