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Consider Firm 1 and Firm 2, who produce identical products and compete in a market with the inverse demand curve p(y) = 20-y. Their competition goes on for infinitely many periods. In each period they simultaneously choose their quantities, and produce at zero cost. They discount future profits using a discount factor δ < 1.
The firms would like to collude so each can obtain half of the monopoly profits. For what discount factors, can they play a Subgame Perfect Nash Equilibrium in which they obtain this desired outcome in every period? Be clear about what strategy profile you propose, and show that if the discount factor is high enough, then there is no profitable deviation for either firm at any possible subgame.
Draw the marginal revenue function for this firm and what is the profit-maximizing price for this firm - On the graph show the area which represents the net loss to society resulting from the monopoly power conferred by the patent.
In recent years, there have been news reports that toys made in China are unsafe. When those news reports show up on CNN and Fox News.
when asking about what is offered from each plan to help you decide would you not want to know how much each costs? if
A firm with U shaped average cost curve finds that its revenues exceed cost when it sets price equal to marginal cost. On which part of the average cost curve is the firm operating?
Suppose if pollution is bad, why is there any tolerance and programs for pollution rights, tax incentives, and subsidies?
The contract also specified that $2 million would be given to a charity. Assume that Hamilton receives each of his five seasonal salaries as a lump-sum payment at the end of the season. Some newspaper reports described Hamilton as having signed a $..
would a minimum-wage law help entry-level workers in some market structure while hurting them in another market
for which of the two bonds in each example would you expect to generally pay the higher interest rate? explain why. a
What is labor economics? Which types of questions labor economics analyze? Who are the key actors in the labor economics? What motives do economists typically.
One study compared the performance of a single company's franchised and company-owned fast-food outlets on health inspections.
What is the number of employed people in Richville? Explain how you got your answer. What is the number of unemployed people in Richville? Explain how you got your answer. What is the labor force equal to in Richville
What if Hugh Liedtke were risk-averse? Based on Figure, find a critical value for Hugh Liedtke's risk tolerance. If his risk tolerance is small enough.
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