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1. In a Cournot duopoly with homogenous firm and down sloping market demand,
A The firm that sets the higher quanity will capture all of the market
B The Nash equilibrium is the competitive outcome
C Both firms set price above marginal cost
D All of the above
2. In a Bertrand duopoly with homogenous firm and down sloping market demand,
A The firm that sets the lower price will capture all of the market
C Both firms set price equal to marginal cost
A business has $35,000 available to invest. Use a PW analysis. MARR = 6% Life = 3 years. How many bundles are there that do not exceed the maximum expenditure amount in initial investments?
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Find the total quantity produced also every firm's profit in equilibrium. Express Illustrate what happens to these when Firm 1 changes its technology as above.
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Define civic responsibility. What knowledge, skills, attitudes, and behaviors should an effective citizen have? Explain the connections you see among service, civic responsibility, and business?
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research where you would find the u.s. international trade policies and their history as they apply to various
Suppose the demand for good X is given by Qdx = 10 - 2Px + Py + M. The price of good X is $1, the price of good Y is $10, and income is $100. Given these prices and income, how much of good X will be purchased?
The coffee shop near the local college normally sells 10 ounces of roasted coffee beans for $10. But the shop sometimes puts the beans on sale. During some sales, it offers "33 percent more for free." Other weeks, it takes "33 percent off" the normal..
Elasticity.....an important, powerful and, at times, challenging topic. Imagine this: you just won a contest and have been appointed the State Tax Commissioner (you might be asking: why did I enter? and is this a good thing to win?) Try to connect th..
ABC Company acquired some land (independently appraised at $12,000) and paid for it by issuing 1,000 shares of its common stock (par $10 per share; no market price was quoted). How should this transaction be reported on the Statement of Cash Flows (S..
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