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Firms A and B are duopolist producers of widgets. The cost function for producing widgets is C(Q) = Q2, with marginal cost MC = 2Q. The market demand function for widgets is Qd = 40 − 0.5P , where Q measures thousands of widgets per year. Competition in the widget market is described by the Cournot model. What are the firms’ equilibrium outputs? What is the resulting price? What do they each earn as profit? How does the price compare to marginal cost? How do the price and the two firms’ joint profit compare to the monopoly price and profit?
Suppose you are told that price of Toyotas' has increased from last year as has the number bought and sold. Is this an exception of the law of demand, or has there been a change in demand or supply that could account for it.
Also the economy has G = $1100, I = $404, and XN = $15. Unemployment in the economy is currently 5.2% and inflation is 0.1%
q.consider two neighboring island countries called bertland and ernamia. they each have 4 million labor hours available
Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. Can businesses be an important cause of inflation or is it a pure monetary eff..
Under the responsibility scheme proposed by the Hong Kong government, households will be charged for solid waste disposal. Is this charge justifiable from an economics point of view? Explain your answer with a diagram ( IT is Microeconomic question)
Supporters and opponents of partial privatization of Social Security agree that partial privatization plans would. Corporate welfare” is a term used by
A monopolist is deciding how to allocate output between two geographically separated markets. What are price, output, prots, marginal revenues, and deadweight loss if. the monopolist can price discriminate? if the law prohibits charging deferent pric..
Calculate the price elasticity demand for bus rides. Next, suppose that the bus schedule is changed so that buses are 10 percent more frequent and that rider-ship subsequently rises to the level that existed before the fare increase. What is the freq..
If the firm's fixed costs double while variable costs are unchanged, then
Does the best regression model have significant multicollinearity?
What is M1 in Iron mania. What is M2 in Iron mania.
Using the method of Lagrange multipliers to derive Sharifah's demand for brownies and espressos. Explain how many brownies and espressos will Sharifah consume.
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