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Lambert-Rogers Co. is a manufacturer of petrochemical products. The firm's research efforts have resulted in the development of a new auto fuel injection cleaner that is considerably more effective than other products on the market. Another firm, GH Squires Co., independently developed a very similar product that is as effective as the Lambert Rogers formula. To avoid a lengthy court battle over conflicting patent claims, the two firms have decided to cross-license each other's patents and proceed with production. It is unlikely that other petrochemical companies will be able to duplicate the product, making the market a duopoly for the foreseeable future. Lambert-Rogers estimates the demand curve given by Q=300,000-25,000P. Marginal cost is estimated to be constant at $2 per bottle.
Lambert-Rogers and GH Squires have very similar operating strategies. Consequently, the management of Lambert-Rogers believes that the Cournot model is appropriate for analyzing the market, provided that both firms enter at the same time. Calculate Lambert-Rogers' profit-maximizing output and price according to this model.
The night before an economic exam, you decide to go to the movies instead of staying home and working your MyEconLab study plan. You get 50 percent on your exam compared with the 70 percent that you normally score.
Assume that demand for a commodity is represented by the equation P = 10 - 0.2 Q d, and supply by the equation P = 2 + 0.2 Qs where Qd and Q s are quantity demanded and quantity supplied, respectively, and P is the Price.
Walden's Leather is part of a regional chain of stores that sells leather goods--mostly men's and women's clothing--with the upscale Walden's brand name. Walden's primarily relies on its own stores where knowledgeable salespeople offer great servi..
What does this graph tell us the nature of economies of scale in the beer brewing industry b. What are the particular problems associated with the firm represented by the SATC curve shown in the graph Does it represent a firm that would be able to..
The present value of the gain from employing the new factory must be less or equal to $50 million and the rate of return from the new factory must be greater than 7%.
Sixteen states sue the major tobacco companies for billions of dollars because of tobacco-related costs in their Medicaid programs. Medical evidence that more than two cups of coffee a day (Considered by many to be a substitute for smoking) greatl..
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
Marginal benefit and marginal cost functions and explicit costs of using market-supplied resources entail an opportunity cost equal to the dollar cost of obtaining the resources in the market.
Many demographers predict that the United States will have zero population in the 21st century in contrast to average population growth of about 1 percent per year in the 20th century. Use the Solow model to forecast the effect.
Assume that both magazines are owned by the same publishing company that maximizes the combined profits of the magazines. Will the company make the same choice as in the noncooperative game (i.e., owned by different publishing companies)?
Identify the following as consumption or investment goods or both. Justify your answers an iPod a share of stock the Trans-Canada highway a ski lift an unsold truck by a GM plant in Ontario My textbook didn't go into too much detail on this subject.
Determine the rate of can rent capital and marginal productivity of labor at its new targeed level of output. To minimize the cost, the car company should hire capital and labor until the marginal rate of subsitution reaches what portion?
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