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Q. 1. You are a monopolist. Suppose there are two types of people who buy your product, groups 1 and 2. Their separate demand functions are given by:D1(p)= A-bpD2(p)= C-dpfor A,C,b,d>0. Total demand for your product is given by D(p) = D1(p) +D2(p).a) What is total profit if you set a single price?b) What is total profit if you use third-degree price discrimination?c) Under what condition is the optimal p1 under third-degree price discrimination greater than p2? (in terms of the parameters of the model)
2. Suppose that there is a unit mass of consumers who are uniformly distributed on the segment[0,1]. Two firms are located on the line and sell identical products. Consumers obtain K utility from consuming a product; assume that K is large enough that all consumers purchase from at least one of the firms despite the costs of transportation, which are linear in distance with a constant marginal cost of t. For each of the following cases, what is 1) the symmetric demand function, and 2) the symmetric equilibrium price? (in terms of the parameters of the model)a) maximum differentiation: firms locate at 0 and 1b) Moderate case: firms locate at 1/4 and 3/4c) No differentiation: firms both locate at 1/2
List and describe the firms in the Industry. Describe the product, production methods, scale of production, and sources for raw materials. What technologies are used?
q1. peter and sally enter a bus and two adjacent cramped seats are free. they must decide whether to sit or stand.
Discuss whether each statement is an example of positive economics or normative economics or if it contains elements of both: an increase in the personal income tax will slow the growth rate of the economy.
Calculate the percentage change in nominal gdp, real gdp and the gdp deflator in 2008 and 2009 from the preceding year. for each year identify the variable that does not change. explain in words why your answer make sense.
Complete the International Trade Simulation. Elucidate how absolute also comparative advantage was used in your simulation.
The players are needed to simultaneously and independently select positive numbers. Find out the Nash equilibrium of this game.
The HHI for automobiles is 2,350, for sporting goods is 161, for batteries is 2,883, and for jewelry is 81. Which of these markets is an example of monopolistic competition?
An ongoing approach debate concerns whether to legalize utilize of drugs such as marijuana also cocaine.
The Wall Street Journal's experience after it increased its cost to 75 cents. Illustrate what implicit assumptions are the publishers also the analysis making about cost elasticity.
Using the slope of the health expenditure function, predict the change in per capita health care expenditures that would result.
Elucidate the concepts of Comparative and Absolute Advantage. Compute the opportunity cost for each country.
If I produce 20,001 copies my total cost will rise to $750.02, therefore my marginal cost of producing copies must be increasing.” Draw a graph to illustrate your answer.
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