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Coke/PepsiBig can, big can = 60, 60, Big can, small can = 120, 100Small can, big can = 100, 120, Small can, small can = 50, 50
Refer to the table above where Coke's payoff is given as the first number in each cell. Suppose Coke and Pepsi are in a strategic environment in which each are deciding whether to manufacture either a big or small can of soft drink (they can't produce both). If Pepsi make their decision first, then at equilibrium the payoffs to Coke and Pepsi respectively are?
When architects design structures, they must also bear in mind also the costs associated with each design. Suppose the cost functions for building highrise apartments is tied not only to the height H but also the basic material used brick, concret..
Suppose the own rice elasticity of demand for good X is -2, its income elasticity is 3, its advertising elasticity is 4, and the cross-price elasticity of demand between it and good Y is -6. Determine how much the consumption of this good will cha..
Suppose a natural monopolist has fixed costs of $24 and a constant marginal cost of $2. The demand for the product is as follows: Price (per unit) $10 $9 $8 $7 $6 $5 $4 $3 $2 $1 Quantity demanded (units per day) 0 2 4 6 8 10 12 14 16 18
where QI refers to the number of games they would play if the price of a game were PI. Because of their access to credit, they would be willing to pay an up-front fee to join the club. Wizards live from pay check to paycheck and would be willing t..
Suppose Ben has a utility function U(x,y)= 4 * x^(0.5) * y^(0.8) The price of x is 2 dollars and the price of y is also 2 dollars. Explain WITHOUT USING ANY MATH AT ALL, just in a few words, which good is consumed more. Does Ben buy more x than y.
In a population Y=100 and Y=43. Use the central limit theorem to answer the following questions a. In a random sample of size n=100, find P(Y or = 98).
Machine A costs $15,000, has $1,600 in annual operating costs, produces an annual benefit of $8,000, has a useful life of 7 years, and can be sold for salvage at the end of its useful life for $3,000. Machine B costs $25,00..
Suppose that a perfectly competitive firm faces a market price $10 per unit, and at this price the upward-sloping portion of the firm's marginal cost curve crosses its marginal revenue curve at an output (Q) level of 1,200 units. If the firm produ..
The demand for life insurance, Executive Insurers, Corporation is planning the factors that affect the amount of life insurance held by executives. The following information on the amount of insurance and annual incomes of a random sample of twelve e..
A firm produces paper clips with the following production function: F(K,L) = 3K^(2/3) L^(1/3) where K is the capital used in production and L is labor used in production. The rental rate for capital is r = 24 and the wage rate is w = 6.
Compute the discount factor 1/(1+r)^t for r=1, 5, or 10 perent interest rates and t=30 and 50 years. remember that 1 percent is .01. based on your computation, is teh choice of discount factor important for deciding whether to do somehtinga bout..
what is the break even price What is the shut-down price What if cable was currently $70.00 and was lowered to $40.0, how large is the price effect How large would be the quantity effect be What is the profit maximizing qunatity and price for cabl..
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