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Two rms sell identical products and compete as Cournot (price-setting) competitors in a market with a demand of p = 150 - Q. Each rm has a constant marginal and average cost of $3 per unit of output. Compute each rm's best response function. Plot each of these functions on a graph with q1 on the horizontal axis and q2 on the vertical. Compute the Cournot equilibrium quantities.
Now suppose that rm 1's cost rises to $4 per unit and rm 2's decreases to $2. On a graph, show how this will change the best response functions. How will the equilibrium change according to the changes you made on the graph?
Walras Equilibrium with two consumers and two commodities, given endowments and preferences for both consumers.
Momentum treatise to the current world population growth crisis.
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Illustrate what implications would increasing worker protections have upon the ability of American companies to compete globally.
if demand is perfectly elastic the demand curve is horizontal. if demand for x shifts right as the price of good y increases, then x and y are substitutes. supply shifts rightward if input prices rise. it is possible for an economy to be inside its p..
How did Samsung’s unveiling of the galaxy S5 affect the demand for the S4? What determinant(s) of demand changed? How did Wal-Mart’s price cut compensate?
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Estimate parameters of the model from the following data by using OLS method. b) What is the estimate of error variance in the above case? c) Find the value of R square for the above data.
Suppose that the citizens of Hungary can purchase all the oil they desire at the going international price. If the Hungarian government levies a tax on oil, who bears the burden? Illustrate your answer wit h a supply and demand diagram.
q1. the number of taxicabs in motorville and the taxicab fares are regulated. the fare currently charged is 5 a ride.
q.how to calculate the elasticity coefficient between each of the seven prices and indicate whether the character of
Lifecycle models base on the assumption that households want to maximize their consumption and at the same time insure themselves against income shocks. Are there other arguments that can reconcile the empirical observation of consumption dispersion ..
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