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Suppose that in the Cournot market of worked-out problem 19.1 (page 712), the demand doubles at each price. What are the new equilibrium quantities and market price? How do profits change when the demand doubles?
Problem 19.1
Suppose Joe, Louie, and Rebecca compete in the Bertrand ready-mix concrete market described in Section 19.2. Show that in any Nash equilibrium, all sales must occur at a price of $40 (equal to marginal cost). Extend your argument to show that this statement will be true as long as two or more firms are competing in the market.
You determine the critical path consists of only five activities. You then compute the variances for the five critical path activities and these variances are 3,4,2,1 and 6 days. what is the probability that the project will be completed.
The Oil Price Information Center reports the mean price per gallon of regular gasoline is $3.79 with a population standard deviation of $0.18. Assume a random sample of 40 gasoline stations is selected.
themarginal revenue schedule is MR = 540 - 0.6q2 and total fixed cost isRs. 65 what is the maximum profit it can make?
The price of milk at the supermarket is px = 4$/liter. The price of cereal py is 0.2cents/gram. If supermarket allows Bob to use an unlimited number of coupons. Coupon: "Buy 1 liter of milk and get 1 box of cereal for free". A box of cereal has 20..
What if the price of labour relatively cheaper than capital, for labour is $1 and capital for $1000. Two combination produce save amount of output, one is 10 labour and 10 capital, one is 1000labour and 1 capital. The second one cost the least, Can i..
Derive the law of motion of capital per worker and draw the graph of the law of motion of capital per worker, and indicate the steady state.
Country A and country B have identical population growth rates of 1% per annum, and everyone in each country always works 40 hours a week. Labor productivity grows at a rate of 2% in country A and at a rate of 2.5% in country B.
Test the intercept estimate for significance at the 95 percent confidence level. If Proposition 103 has no impact on auto insurance premiums in any given county, what percent of voters do you expect will vote for the proposition
Suppose that a firm comtemplating entering the market for breakfast cereal would need to invest $100 million in a production plant (or about $10 million annually on an amortized basis). Such a plant could produce about 100 million pounds of cereal..
Western commentators become highly appreciating of the Japanese economic model until they realised it's no longer working well the things which made it strong in fact now explain why it's a weak discuss the statement setting out points of referen..
Suppose that David has $1000. In the beginning of a year he decided to put his money in a saving account with 5% interest rate per year. The CPI was 150 in the beginning of that year. He expected that the CPI would be 153 in the beginning of the n..
The banking market in Athens, Ohio, currently has four banks with market shares of 60 percent, 20 percent, 15 percent, and 5 percent. The two smallest banks have proposed merging. Under the standard merger guidelines of the Federal Reserve.
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