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Consider a standard Cournot oligopoly with n ≥ 2 identical firms, P(x) = a - bX, X ≥ 0, and C(x) = cx2.
a. Find the Cournot equilibrium output and profit.
b. If m firms wish to merge, what would be their cost function, assuming that they can use all their m production plants but that they otherwise do not have any eciency gains as a result of the merger?
c. Given the cost function from part b, when is an m-firm merger profitable to the merged entity? To the non merging firms?
d. Give a precise economic intuition explaining your answer relative to the usual (linear cost) case.
Test at the 0.01 level the statement that 55% of those families who plan to purchase a vacation residence in Florida want a condominium. The null hypothesis is = 0.55 and the alternate is . A random sample of 400 families who planned to buy.
Draw a figure showing the demand curve and the supply for apartments. What is the market equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied?
What is a national innovation system?
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Why are they used again near the end of the audit?
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solve the following linear programming model graphically. in addition write the problem in standard form and do a
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