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Suppose two firms are competing in prices (Bertrand) in an industry where demand is p=200-4Q.
(a) If both firms have MC=120, what is the equilibrium quantity for each firm? Profits?
(b) Suppose one firm has MC=120 and one has MC=100. Approximately how much profit does each firm make? (c) Suppose one firm has MC=150 and one has MC=0. Approximately how much profit does each firm make?
The problem belongs to Economics and it is discusses about price elasticity of requirement for gasoline in France after the Arab oil crisis in 1973-74.
this chapter argued that saving and spending behavior depended in part on wealth accumulated savings and inheritancebut
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aaron hank is a star hitter for the bay city baseball team. he is close to breaking the major league record for home
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A couple starts saving for their retirement by putting $1000 at the end of this year and increasing the savings by 5% each year. If the savings earn 6% annual interest, what would be the value of their savings at the end of 30 years?
A tax equal to the external cost of used paper
Briefly explain whether you agree or disagree with the following statement '' Assets are things of value that people own . Liabilities are debts . Therefore a bank will always consider a checking account deposit to be an asset , and a car loan to ..
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