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Stackelberg Duopoly:
Two firms both have the same constant marginal cost of $20 ≥ 0 and zero fixed cost; market price P = 140 − 2(q1 + q2). Both firms choose outputs to compete.
(a) Find the subgame perfect equilibrium outcome of the Stackelberg Duopoly game with Firm 1 moving first. First, solve for the follower’s (Firm 2’s) best response function. Then solve for the leader’s optimal strategy.
(b) Find the Nash equilibrium of the Cournot duopoly under the same assumptions on costs and demand.
(c) Compare the two equilibria. Discuss the differences.
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Public health information can be broadcast at a cost of $100. Public health information is a pure public good, in that many people can use the information simultaneously and preventing people from using the information is very difficult. At a price o..
Deficient as the sole mechanism for determining the optimal level of resource employment.
Scores on the SAT verbal test in recent years follow approximately the N(515, 109) distribution. How high must a student score in order to place in the top 5% of all students taking the SAT?
A recent industry report concluded that the global demand for the good X is expected to increase. Based on the demand projections given in the report Colaba, a firm that produces and sells X, is contemplating hiring more labor to increase production.
Illustrate what are characteristics of large firms conducting both B2B and B2C transactions that require more robust and capable electronic commerce systems.
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Gomez runs a small pottery firm. He hires one helper at $12000 per year,pays annual rent $5000 for his shop, and spends $20000 per year on materials. Calculate accounting cost, economic cost, accounting profit, economic profit for Gomez pottery firm,..
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