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Consider a duopoly model where two firms compete in their prices sequentially. Denote firm 1's price by p1 and firm 2's price by p2. Every firm has a constant marginal cost c > 0 but no fixed cost. Demand functions faced by the two firms are, respectively,
q1 = a - p1 + p2 and q2 = a - p2 +p1, where a>0
(a) Find the subgame perfect equilibrium outcome. What are firms' strategies in this subgame perfect equilibrium?
(b) Construct a Nash equilibrium where the two firms set the same price, provide firms' strategies to support this Nash equilibrium, and show that this Nash equilibrium is not subgame perfect.
Assume which two people, Michelle also James every live alone in an isolated region. They every have the same resources available also they grow potatoes also raise chickens.
What microenvironment factors have affected Sony’s performance since 2000? What macro environmental factors have affected Sony’s performance during that period? What stands in the way of Sony’s success today?
Write a one - two page paper on your definition of ethics and or "code of ethics." You may write the paper in Word and submit via attachment or type your response directly into the text editor. Whatever method you choose, you will need to click on th..
A bank in Venezuela borrows $5 million in U.S. dollars, promising to repay the loan plus 6% interest at the end of the year. The currency in Venezuela is the “bolivar.” Figure out how much money the bank makes on the loan if the exchange rate stays f..
Provide examples of businesses taking advantage (profiting from) the recent drive to “go green” (environmental consulting, etc). What are the advantages and disadvantages of going green for a company? What are the differences between John Maynard Ke..
In the specific-factors model, an increase in the price of the manufactured good will cause:
Some lenders charge an up-front fee on a loan, which is subtracted from what the borrower receives. This is typically described as "points" (where one point equals 1% of the loan amount). The federal government requires that this be accounted for in ..
q.1let x be a random variable with probability density function fxc1-x2 -1ltxlt10 elsewherea what is the value of c?b
Use the economic perpective to explin why someone who isnormally a ligh eater at a standard restaurant may become somewhat of a gullton at a buffet-style restaurant that chares a single price for all you can eat.
A firm can determine how many resource units to acquire by comparing Marginal Revenue Product and Marginal Factor Cost, then continuing to acquire another unit so long as its MRP exceeds, or at least is no worse than, its MFC.
In current business publications, find examples of firms whose strategies to increase profits focus primarily on generating more revenue. Compare these cases with firms that are trying to cut costs to increase profits. In your initial post, include a..
What term do economists use to describe how governmental agencies such as, say, the Federal Trade Commission, may go from being a “watchdog” for consumers to being a “lapdog” for industry?
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