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The inverse market demand for fiberglass insulation is given by P = 800 - 2Q. This is a homogeneous product and there are only two firms who produce fiberglass insulation: American Fiberglass Co. and Benchmark Fiberglass Co., so Q = qA + qB. American has a (constant) marginal cost of production of 100 while Benchmark has a marginal cost of 120. Suppose competition can be reasonably modeled by assuming that firms strategically set quantities, and they make their quantity choices simultaneously. Show how to derive the Cournot equilibrium in this market, and report the resulting levels of production for each firm and market price.
Trade occurs because of differences in the availability of factor inputs across countries and differences in the proportions of those factor inputs used inproducing different products.
Explain which of the variables computed in the table and plotted on the graph represent the supply and demand curves for the Henry Korn & Sons Company. Why are they the supply and demand curves?
What do you think about current and projected budget deficit [over 500 Billion this year and coming years] and do you support Bush's economic policy to cut tax and run the Federal government through lending?
1. Draw this game in extensive form. Be sure to fully label the game tree. 2. What is the subgame perfect equilibrium outcome? 3. Would you advise Enterprise to build the widget factory?
Industry studies often suggest that firms may have long - run average cost curves that show some output range over which there are economics of scale and wide range of output over which long- run average cost is constant.
you decide to estimate the following quarterly sales forecasting model for new boat sales in your local countyqt a bt
3.Should the Fed remain independent from political authority or should the President and Congress have a say in their operations Why Why not 4.What is FOMC What is the current Federal Funds Rate
Fewer potatoes are demanded when the price of rice has fallen from $ 0.25 to $0.10 cents per pound-The Molly Jock wants to buy a high definition television to watch the Olympic Greco roman wrestling competition in Beijing.
All other things unchanged, which of the following events leads to a shift further outward in the country's production possibility curve?
1. Even if a nation's money is not readily accepted as a medium of exchange and does not maintain a store of value, it can still function quite well if the government declares it to be the nation's legal currency.
In 1991, Brazil and Columbia united to form a coffee cartel and reduce coffee output. Suppose total costs for the cartel are:
For several years, Palm was the dominant manufacturer of PDAs (personal digital assistants). However, a number of other manufacturers have since entered the PDA market.
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