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1. Two firms, producing an identical good, engage in price competition. The cost functions are c1 (y1) = 1:17y1 and c2 (y2) = 1:19y2, correspondingly. The demand function is D (p) = 800 50p. The firm that charges the lowest price gets the entire demand, while, if prices are equal, each firm gets exactly one half of the total demand. Firms can only charge prices that correspond to denominations of Canadian dollars (i.e., prices change by one cent).
(a) Suggest an equilibrium pricing scenario (i.e., one price per firm). Given the prices you propose, find the quantities that each firm is selling, the total market quantity, and the corresponding profits. Justify why the prices you propose are equilibrium prices (by showing that NO firm wants to deviate from the prices you propose).
(b) Repeat part
(a) assuming that the Canadian economy run out of 1 cent and 5 cent coins (i.e., prices can change only in multiples of twenty-five cents).
1. The town of Sunnydale, CA is inhabited by two vampires, Spike and Anya. Each night Spike and Anya independently hunt for food, which each one finds with probability 1/2 . Becaus
Take a news story, old or recent, and analyze it from a game theoretic perspective. Provide a hard copy of the source of your news story and consult relevant game theoretic literat
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While ancient auctions involve one seller and plenty of consumers, a reverse auction typically involves several sellers and one buyer. for instance, procurement auctions are used t
1.a.out 2 1 Here is the grid that has been generated: 1 1 1 0 0 0 0 0 1 1 0 1 0 0 1 1 1 1 0 0 1 1 1 1 0 1 1 0 0 1 1 0 0 1 0 1 1 1 1 1 1 0 1 0 1 1 0 1 0 1 1 1 0
Explain the financial system terms definitions. The Financial System Definitions: Wealth It is sum of Current Savings and Accumulated Savings Financial asset P
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