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The inverse market demand curve for paper is given by P=400-2Q. There are two firms who produce fax paper. Each firm has unit cost of production equal to c=40, and they compete in the market quan-tities. That is, they can choose any quantity to produce, and they make the quantity choices simulta-neously. a. Show how to derive the Cournot Nash equilibrium to this game. What are the firm's profits in equilibrium? b. What is the monopoly output, that is the one that maximizes total industry profit? Why isn't pro-ducing one half the monopoly output a Nash equilibrium outcome? Explain and show why c. Suppose now that firm 1 has a cost advantage. Its unit cost is constant and equal to c=25 whereas firm 2 has the higher unit cost of c=40. What is the Cournot outcome now? What are the firm's profits?
The consequences of decriminalizing illegal drugs have long been debated. Some claim that legalization will lower the price of these drugs and reduce related crime. Others claim that more people will use these drugs.
what are some of the toughest management challenges in developing it solutions to solve business problems and meet new
price elasticity of supply you have based on the cost of production changes as output changes including actual
problem 1please dene or explain the following terms. a complete answer will include a graph equation andor example as
Would you consider the demand for eggs to be elastic or inelastic and illustrate and explain with a diagram how can the Government intervene and correct this situation
The demand for housing is often described as being highly cyclical and very sensitive to housing prices and interest rates. Given these characteristics describe the effect of each of the following terms of whether it would increase or decrease the..
You've recently learned that the company where you work is being sold for $380,000. The company's income statement indicates current profits of $15,000, which have yet to be paid out as dividends.
why do nations trade? what is meant by the concept of comparative advantage? could a nation be better off
A reserve price is a minimum price set by the auctioneer. If no bidder is willing to pay the reserve price, the item is unsold at a profit of $0 for the auctioneer. If only one bidder values the item at or above the reserve price. An auctioneer fa..
natural monopolies is a commonly used, potential solution to the problems presented by natural monopolies. a. Giving incentives to firms to become b. Regulating c. Breaking up firms that are d. Outlawing price discrimination by e. Refusing to grant p..
The particular index that you will compare to the Thumbtack measure is Forbes-overall . You are to include your index along with the five X variables suggested by the authors of the report of the Thumbtack survey.
1. aspen inc. is a manufacturer and distributor of digital recording decks for commercial recording studios. revenue
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