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1. Consider the case of two theaters, Jay's Cinema (JC) and Mezzanine Inc. (MI) with market power. The inverse demand for theater tickets is given as P = 220 - 5Q, where quantity is measured in thousands of theater tickets per year, representing the combined production of JC and MI, Q = qJC + qMI, and price is measured in dollars per ticket. JC has a marginal cost of $12 per ticket, and MI has a marginal cost of $10. Suppose the market is a Stackelberg oligopoly and MI is the first mover. How much profit does each firm earn? Is the outcome intuitive or counter-intuitive? Interpret the results.
2. Read the article "c3 Berry et al. - VER on Automobiles.pdf" below. "Berry, Levinsohn, and Pakes (1995)" evaluate the voluntary export restraint (VER) that was imposed on exports of automobiles from Japan in 1981. What are their findings? What policy implications can we draw out of it? What are the differences between "VER" and "quota?" Would imposing a quota instead of the VER lead to different economic outcomes?
describe relationship between marginal propensity to consume and marginal propty to save. how do the two components ect
you have been hired in the finance department at a large metropolitan for-profit hospital. your duties are very
Describe the contents of the memo Product or Service Briefly describe your product and Briefly describe a second price discrimination technique
Vic Zaloom bought a corporate bond from IBEM Corporation for $100,000. The face value of the bond is $100,000 and will mature in twenty years. A $2,500 dividend is expected to be paid every quarter.
Show your steps. B. After the equilibrium is reached, suppose 100,000 new jobs are created, causing 200,000 new migrants to enter the city. Does the equilibrium rate change? What is the new rate of urban unemployment right after the new migrants h..
the demand for historical artifacts has dramatically increased recently whereas some of the old coin is destroyed or no longer of any value, what happens
The authors actually broke the data into seven different times of day, but for purposes of this example assume that the dependent variable is each participant's mean SSS score over the 30-day period. What is the appropriate analysis of these data?
You are tasked to develop a new appraisal process for the correctional system's employees. How would you go about starting this task? What would be the elements of your new appraisal process?
What size plant should be built - The water company products water on this production function It can only adjust plant size in the next 24 hour cycle
What indicators are evident that there is too much or too little money within the economy? How is monetary policy aiming to adjust this?
The goal of studying and recording the unemployment rate is to learn something about the state of the economy. Explain why each of the following makes the unemployment rate a better or worse indicator of how healthy the economy is.
Assume that the price of the consumption good (denote it by P) is exogenously given and equal to 2. Use W to denote the hourly nominal wage in the economy
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