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Two firms are engaged in Bertrand competition. Both firms have a stable marginal cost of €7. Presently, every firm is allocated half the market. There are 10,000 people in the population and every of them are willing to pay at most €12 for one unit of the good. Further, consumers can Only purchase one unit of the good and it costs every of them ? to switch from one firm to another. Suppose that there is perfect information in this market, which means that customers know what prices are being charged. Law or custom restricts the firms to charging whole amounts (e.g., they can charge €8, but not €8.50).
a) Suppose that switching costs are zero. What are the Nash equilibria of this model? Why does discrete pricing result in more equilibria than continuous pricing?
PHILLIPS CURVE The Phillips curve, named after A. W. Phillips, describes the relationship between unemployment and inflation. In 1958 Phillips, then professor a
p=10, TC= 1000+2Q+.01Q^2, Q=?
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs. 3 to 2
The demand curve for the product of a monopolist is a straight line such that quantity just falls to zero at a price of Rs 20 per unit and that the maximum quantity (at zero price)
Q. Controlover Supply of Inputs - sources of monopoly? Furthermore, a monopoly situation may arise because of control over the supply of an essential input -skilled labour, raw
Methods which rely on quantitative data: Rule-based forecasting Data mining Quantitative analogies Discrete event simulation Neural networks Extrapo
what is the definition
Discuss whether Indian Consumer goods industry is growing at the cost of future Profitability.
Theory of consumer behavior
Broader the range of other uses of a commodity, higher the price elasticity of its demand intended for the fall in price though less elastic for the increase in price. As price of
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