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Firm A is the incumbent in a market and currently enjoys a monopoly. Firm B is a potential entrant. The demand in this market is p = 6 - (qA + qB), where p is the industry price of output. Both firms produce output costlessly. At the start of the game, A will decide how much to spend on advertising. B, after learning how much A has spent, can then either match A's advertising expenditure or spend nothing on advertising. If B spends nothing, then B earns 0 and A remains the monopolist. If B matches A's advertising, then they play a Cournot game where they choose output simultaneously. Find the subgame perfect Nash equilibrium of this game. Assume that if Firm B is indifferent between entering and not entering this market it will choose not to enter.
Illustrate what is the difference between a movement along and shift of the demand curve. Show the impact on the equilibrium price and quantity that results.
what level of output should be produced in each market and what price will prevail in each market? What are total profits in this situation? How would your answer change it it only cost demanders $5 to mail books between the two markets? What would..
Utilize a various example from homes and cars. Be creative. We make these kinds of choices everyday.
Groovy Tuesday, a clothing maker, has found that their costs can be approximated by the equation: C = 500 + 2Q2. The consulting company they hired to estimate their current demand determined that demand is characterized by:
Select a U.S. multinational company. In terms of currency denomination, discuss how the firm prices its revenues and costs.
1)List the components of the LAMP stack. which commerical products do these components compete with 2) Define cloud computing 3)Describe the shift in skill sets required for IT workers that is likely to result from the widespread adoption of cloud ..
Decline in the marginal propensity to consume by -.3 (i.e. MPC = 0.5: people consume half of their income). What is the new value of aggregate income?
A firm that has total fixed costs of $40,000 sells its output for $250 per unit and has an average variable cost of $150. If the firm's cost and revenue curves are linear, explain how much output must the firm produce to break even?
Corporation X expects sales next year = $5,000,000. Inventory and accounts receivable will increase $900,000 to accommodate this sales level.
As a manager of a financial planning organization you have two financial planners.In an hour a person can produce 1 statement or answer 10 calls.
Describe what would happen in this market in terms of the supply and demand curve and draw a graph illustrating the supply and demand in this market.
The percentage changes in quantity demanded divided by the percentage change in price.
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