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Low-Price Guarantees for a Canopy Tour. Dip and Zip provide canopy tours in a rain forest. The average cost per rider is constant at $10. Here are the possible outcomes: Price fixing (cartel). Each firm has 6 passengers at a price of $20. Duopoly (no price fixing). Each firm has 8 passengers at a price of $15. Underpricing (one firm charges $20 and the other charges $15). The low-price firm has 13 passengers and the high-price firm has 2 passengers. Dip chooses a price first, followed by Zip.
a. Assume that the firms do
b. Suppose both firms provide low-price guarantees. Draw a new game tree and predict the outcome of the price-fixing game.
c. Is the promise to match any lower price a substantive promise or an empty promise?
How many units should be produced to maximize profit? How do this company's marginal costs behave as output increases? Provide a logical explanation as to why a computer manufacturer's marginal costs might behave in this way.
Determine unemployment in the cattle Industry. Explain a current status of unemployment in the Cattle Industry.
What is the profit maximizing (loss minimizing) level of output for Chan in the SR? ii) Calculate the total economic profit (or loss) that Chan. would receive at this particular level of output. You must show all of your work to r..
suppose thurston, a color blind consumer, has 80$ to spend on either lime green or pink sweater. Thurston does not care what color sweater her wears but deems it very important to buy as many sweater as possible with the 80 $. Pink sweater cost 20..
Monopolies can sometimes find themselves in difficult financial situations that lead to losses. Suppose Mr. Burns' power company has a monopoly for providing electricity in Springfield. His costs of upkeep are so high that he is consistently losing m..
Full-employment level of real output is $250 and the initially the price level is 100. Use the short-run aggregate supply schedules above to answer the questions that follow a)What will be the level of real output in the short run if the price leve..
Given PxX + PyY = I and the information in question one above and a point system where px = 2, py = 8 and the number of points available is 450, is the consumer constrained by points If so, what is the consumption point
let x denote the reaction time in seconds to a certain stimulus and y denote the temperature f at which a certain
Edwina, a commoditiesbroker, has acquired an option to buy 1,000 oz of gold at $50/oz.If she takes her option and Congress relaxes the import quotas, shecan sell the gold for $80/oz. If she takes the option and Congressdoes not relax the import qu..
Given the following Demand and Supply functions answer questions a thru d. Qd=120-2P+5I Qs=-10+4P-3W where P=$3 is the price of the good. I=$100 per capital consumer income W= $50 wage rate a. Derive the demand and supply curves (qd and qs).
the cost of equipment replacement is 150000 every 6 years, beginning 6 years from now. How much money is required in the trust fund now to build the engineering laboratory and maintain its perpetual operation and equipment replacement? The interes..
XYZ Corporation is a manufacturer of widgets. Over the past several months, it has been selling its widgets for $100 each and unit sales have averaged 5,000 units per month. This month its competitor, ABC, Inc. raised the price of its widgets from..
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