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i) Two firms, A and B, are operating in a UK textile industry under duopolistic condition and choose to either produce at "High" price or a "Low" price. Suppose you are the manager of firm A and you are required to advise the Board of Directors about the following strategic options:
a) If Firm B chooses High Price, what is Firm A's best strategy and why?
b) What is best outcome for both Firm A and Firm B and how can it occur?
c) What measures could you adopt to convince Firm B that you will abide to the agreement?
d) Consider that both firms produce at "Low" price and each firm make a loss of 15. In that context, can you explain this outcome?
e) What is the Nash equilibrium for both firms? Illustrate
ii) How does an incumbent firm succeed in deterring entry into the market by potential competitors? Use a Games theoretical approach to support your answer.
Division of Labor The occupation or breaking down of jobs into simple and repetitive responsibilities.
what is market equilibrium and disequilibrium?
#questThe demand for and supply of labour in a certain industry are given by the equations Nd = 400 - 2w Ns = 240 + 2w Where Nd ( is the number of workers employers want to hire
true or false ,It is not possible for the compensated own price elasticity to equal the uncompensated own price elasticity.uestion #Minimum 100 words accepted#
Can marginal cost be constant? If so, does this mean that marginal cost are equal to average variable cost?
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An economist's view of costs contains both explicit and implicit costs. Explicit costs are accounting costs, and implicit costs are the opportunity costs of an allocation of resou
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CONSIDER THE DEMAND CUVE Q=100-50P DRAW THE DEMAND CURVE AND INDICATE WHICH PORTION OF THE CURVE IS ELASTIC ,WHICH PORTION IS INELASTIC AND WHICH PORTION IS UNIT ELASTIC
Allocative efficiency criteria are satisfied by the competitive model. Because P = MC, in each market in the economy there is no over- or under- allocation of resources in this ec
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