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The inverse-market demand curve for DRAM chips is P = 50 - Q, where Q is the total industry output and P is the market price. The marginal cost of producing DRAM's is $15. There are no fixed costs associated with producing the chips.A. Assume that DRAM chips are only produced by Samsung. What price will Samsung set for DRAM chips? What will be Samsung's level of profits?B. Lucky Goldstar (LG) will now compete with Samsung. Goldstar and LG incur the same marginal cost of production, $15. Each firm has Cournot consistent beliefs. What will be the Cournot equilibrium price?C. Samsung continues to face one competitor, GS, but now Samsung is the Stackelberg leader. What will be the equilibrium price? Level of output for GS? Samsung?D. Now assume that Goldstar and LG have Bertrand consistent beliefs. What will be the Bertrand equilibrium price? How did you derive this price?E. Compare the level of consumer surplus in scenarios A through D.
Which changes to fiscal stimulus package of 2009 for $862 billion (under the bill called American Recovery and Reinvestment Act of 2009) would have a larger overall impact on AD. Explain your answer in a paragraph or two with credible logics and a..
In a large city it was found that summer electricity bills for single-family home followed a normal distribution with standard deviation $100. A random sample of 25 bills was taken. a. Find the probability that the sample standard deviation is less..
put $20,000 on deposit on your 13th birthday at 5 percent compounded annually. On your 14th birthday, the account begins earning 6 percent. Then on your 15th birthday, it begins earning 7 percent. You plan to withdrawal equal amounts on your sixty-..
The joint probability distribution on the returns of two securities X and Y is demonstrate in the table below.
A car rental agency is considering a modification in its oil change procedure. currently, it uses a type X filter, which cost $5and must be changed every 7,000 miles along with oil (5 quarts.) Between each oil change , one quart of oil must be add..
Consider a monopolistically competitive market with N firms. Each firm's business opportunities are described by the following equations: Demand: Q=100/N-P Marginal Revenue: MR=100/N-2Q Total cost: TC=50+Q(squared) Marginal Cost: MC=2Q
Overheard at water cooler: My regression model of demand is better than one that the consultant prepared for us because it has a higher R2.
Online Educators (OE), a not-for-profit firm exempt from taxes, is considering replacement of some electronic equipment associated with its distance learning (DL) facility. They spent $100,000 on the equipment 3 years ago and have depreciated it t..
Consider the following sequence of year-end cash flows: EOY cash flow 1 2 3 4 5 (1)=$8000 (2)=$15,000 (3)=$22,000 (4)=$29,000 (5)=$36,000 What is the uniform annual equivalent if the interest rate is 12% per year
Assume that savings are invested at the end of each calendar year. Assume that during your working life you earn a return of 8% per year, and that when you retire at age 65 you move your assets into more conservative investments and earn a return ..
What is the cost function, marginal cost function, and average cost function for each plant? b) What is the efficient scale and minimum average cost for each plant? c) What is the cost function for the firm?
You spendthrift cousin want to buy a fancy watch for $425. Instead, you suggest that she buy an inexpensive watch for $25and save the difference of $400 for 40years in account earning 9% interest per year.how much will she accumulate in this accoun..
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