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An industry consists of two firms with identical costs C(q) = 5q +q2=2. The firms can either collude or compete. If both collude, they each produce qm (half the monopoly output Qm). If one rm colludes and the other competes, the latter produces the output q? that maximizes its prots given that the other firm produces qm. If both compete, they play Cournot and each produce qn. Calculate these outputs and the resulting prots if market demand is Q = 125 ?? p. Represent your results as a normal-form game. What is the Nash equilibrium if the game is only played once?
let E1 denote his expenditure at the end of this year and E2 denote his expenditure at the end of next year. At the end of this year he will receive $100,000 in income, and at the end of next year, he will receive $105,000 in income.
An economy can produce a maximum of either 28 million tons of wheat or 7,000 automobiles, or various intermediate quantities, as depicted in the table below: Wheat (millions of tons) A=28,B =27,C= 25,D= 22,E =18,F= 13,G= 7,H =0 Automobiles (thousa..
Suppose that the most popular car dealer in your area sells 10 percent of all vehicles. If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car deal..
Refer to the above data. If the product price is $55, at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss How much will the profit or loss be. will the firm realize an economic profit, break even, ..
A monopolist's has a constant marginal and average cost of $10 and faces a demand curve of QD = 1000 - 10P. Marginal revenue is given by MR= 100 - 1/5Q. A. Calculate the monopolist profit maximizing quantity, price and profit.
Suppose that the Phillips curve is given by ?t-?t^e= 0.1-2?t where ?t^e=?t-1 Suppose that inflation in year t-1 is zero. In year t, the authorities decide to keep the unemployment rate at 4% forever. 1. Compute the natural rate of unemployment.
at a price of $1 each, 200 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run, a price increase from $1 to $2 is unit-elastic (Es = 1). In the long run, a price increase from $1 to $2..
A company has an annual requirement for 150,000 parts, which cost $125 each. The parts require processing having a $4,000 setup cost. Each part occupies 0.5 sqft of floor space in the factory. Floor space has a total cost of $12.50 per square foot..
The state Power Department argues that a 5 percent discount factor should be used in evaluating the projects, because that is the government's borrowing rate. The Human Resources Department suggests using a 12 percent rate.
Jim deposits $3,000 in a savings account that pays 6% interest compounded monthly. Three years later he deposits $4,000. Two years after the 4,000 deposit, he makes a final deposit of $6,000. Four years after the $6,000 deposit.
Just The Fax, Inc. (JTF) has hired you as a consultant to analyze the demand for its line of telecommunications devices in 35 different market areas. The available data set includes observations on the number of thousands of units sold by JTF per ..
Suppose David spends his income (I) on two goods, x and y, whose market prices are px and py, respectively. His preferences are represented by the utility function u(x; y) = lnx + 2lny (MUx = 1=x;MUy = 2=y). Repeat part (b) for the case in which px..
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