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1. Draw a set of reaction functions such that in the Dixit model, the incumbent would install excess capacity and deter entry. What must you assume about the effect of an increase in a rival's output on marginal revenue?
2. (a) What is the equilibrium outcome in the Dixit model if q M > q V ? Why?
(b) Suppose entry is deterred in the Dixit model and ql > q M . Would the incumbent ever expand its capacity in the second stage? In particular, would an incumbent ever produce where MR1(q1, 0) = w?
Estimated marginal revenue for the student readers. The production department at The Herald estimates a linear marginal cost function for newspaper production
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ac inc. has a monopoly in the market for little green houses. acs total cost function is 100000.10y2 0.10 y squareand
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A firm conducted a research about the demographics of their customers. For the study they collected data about the following variables: gender, marital status, credit rating (low, medium, high), annual income, and age.
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