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Two identical firms each have a cost function TC = 2y2 and the market demand for their output is P = -4Q+192
a) Write the "best response" function for each firm.
b) Find the Nash equilibrium in this model
c) Show that if each firm produces 1 fewer units than the result in (b), both firms make more profit. Use this information to construct a normal form game. Explain why this game is a prisoner's dilemma.
What are some of the conditions for effectiveness of the bank credit channels of monetary policy transmission? List at least two and explain why they are necessary.
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Why might bargaining break down when parties negotiate to remedy a market failure and its associated externality?
Make a paper analyzing the current market conditions of the Airline industry including a supply and demand analysis that answers these questions:
From the scenario for Katrina's Candies, determine the importance of predicting the pricing strategies of rival firms in an industry characterized by mutual interdependence.
Industries used to make capacity, production, inventory and staffing decisions based on long-range forecasts.
Compute the following derivatives: - f(x) where f(x) = x3ex - f(7)(x), the seventh derivative of f, where f(x) = sin(2x).
Suppose the U.S government decides that the incomes of dairy farmers should be maintained at a level then how much surplus milk will be produced as a result of this policy.
How many exercise machines should the university buy? (Show how you get your answer.) The University would like to collect payments from individuals in order to buy the socially optimal number of exercise machines (from part a)). Describe the Lind..
Suppose a monopolist with cost function C (Q) = 3Q selling to 2 segments of consumers where Q is total output produced by the monopolist in both markets. If the monopolist can use a single two-part tariff, compute the two part tariff that will maxim..
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