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A unit circle representing the dimension of ”mouth feel” in breakfast cereals has 200 con- sumers spread uniformly along it. All consumers buy either one package of cereal a week or none at all (in which case they eat bread) and incur disutility c = 200 from each unit distance by which a brand deviates from their favorite mouth feel. The reservation price is: v = 20.
a) What is the equation for the demand curve facing cereal makers? (Distinguish the monopolistic and competitive segments)
b) What is the symmetric equilibrium under free entry if the cereal makers’ costs are C(q) = 128 + 4q?
c) What if fixed costs fall to 100?
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Petra likes iPhone apps and epresso pods for her coffee machine. We denote the number of apps by X and pods by Y. Prices PX = 10. PY = 5. Her income in the period is 500. Her utility function is given by: (1) U(X,Y) = X^(0.4)Y^(0.6). What must her ne..
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Consider an oligopoly industry whose firms have identical demand and cost conditions. If the firms decide to collude, then they will want to collectively produce the amount of output that would be produced by:
A production process exhibits economies of scale if:
Research Bank of America's performance and risk exposures in the market since 2008. What is its biggest strength? What is its biggest challenge? How does the B of A manage its risks and survive its crisis period?
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