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P= 1,100 - 2Q TC= 20qi Q = q1 + q2 1. Construct the Coutrnot profit function. Differentiate this function and solve for the reaction functions of firm one and firm two. 2. Consider the following general reaction function: qi = Ri (qj)qi=270?q j/2
a. What is the Nash equilibrium level of output for firm i?
b. What is the Nash equilibrium level of output for firm j?
c. What is the Nash equilibrium level of output for the industry?
d. Suppose that firm one were attempting to prevent firm two from entering the market. How much output must firm one threaten to produce in order to cause firm two to stay out of the market?
e. Consider your answer to part d, is this threat credible?
You employ five workers and deciding whether to hire an additional help. MPL of new hire is expected to be 500 units per week. The market wage rate for the skill you are looking for is $1200 per week.
A typical 2,000 sq. ft. home using standard concrete forms costs $120 per square foot to construct and uses $300 per month average to heat and cool. Calculate the IRR on a home using your company's insulated concrete forms on a typical 2,000 sq. f..
When the price of good X falls from . 10 to . 9, the demand for good Y Increase from 20 Kg. to 25 Kg. a) What is the cross elasticity of demand of good Y for good X b) Are goods X and Y compliments or substitutes
In the last month, the price of gasoline increased by 20%. Your job is to determine what caused the increase in price: a change in demand or change in supply. Ms. Info has all the numbers associated with the gasoline market and she can answer a si..
Refer to the simplified balance sheet for a bank and answer the following questions. Assets Liabilities Reserves $10,000 Deposits $70,000 Loans $66,000 Stockholder's equity $6,000 a. If the required reserve ratio is 5 percent, how much in excess rese..
In your 1st position as a Finance manager you have been given responsibility for decreasing use of residential heating fuel in state. Choose one of three legislative proposals to accomplish this target
a mortgage banking company has been evaluating the merits of a 50-year mortgage. The basic idea is to reduce the monthly payment and make home ownership more affordable. the APR of either mortgage is 6% and the compounding is monthly.
a. What is the opportunity cost of a pie at Bakery 1 b. What is the opportunity cost of a cookie at Bakery 2 c. Which bakery has a comparative advantage in the production of cookies d. Draw the production possibilities curve showing the combined effo..
Suppose that a paper mill "feeds" a downstream box mill. For the downstream mill, the marginal profitability of producing boxes declines with volume. The 1st unit of boxes increases earnings by $10, the 2nd by $9, the third $7, and so on, until th..
Given the following production function with two inputs, Capital (K) and Labor (L), whose input prices are $1 each. Suppose the company needed to produce 50 units. What would be the cost minimizing combination of capital and labor needed
now suppose the firm is able to charge an entry fee, as well as a price for every unit sold. What is the optimal entry fee, the price per unit, and the deadwight loss. Calculate them and show these on the graph below.
One of their new MBA financial wizards has estimated the following relationship for gold sales in the past year of trading (250 observations): Q = 4,000 - 0.01P + 1.5I - 1.25X + 2.0S R2 = .96 (857) (0.002) (0.65) (0.44) (0.48) where Q = daily sale..
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