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Two firms simultaneously produce quantities of a good, which costs them $5 per unit to produce. They can produce any quantity between 0 units and 500 units. (To keep the game finite, assume they must select an integer number of units.) The units produced are then totalled, and a price for them is set that will clear markets where demand for the good is given by P = $1000 - 2Q, where Q is the total quantity supplied. Each firm gets revenue according to the equilibrium price and the amount that it sells. What does an extensive form of this game look like? What does the strategic form of this game look like? How would things change if one firm, say firm A, got to see how much firm B produced before launching production itself?
Design a simple econometric research project
Multiplicative decomposition method
The Australian government administers two programs that affect the market for cigarettes.
Solve the forecast model
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Explain why this model violates the assumption of no perfect collinearity. Write the t statistic for testing the null hypothesis
What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type
Determine when a competitively produced product generates negative externalities in production, the industry will,
Assume a company has the following production function: Q = 100 K.5 L1 . Currently, the company hires 1,000 workers and employs 100 units of capital.
M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.
Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:
Briefly discuss the difference between mechanism of an oral or English auction and a Vickrey or second price auction.
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