Find the bertrand equilibrium

Assignment Help Microeconomics
Reference no: EM13691163

Suppose that 2 firms both have average variable cost $50. Market demand is given by Q=100-P. Find the Bertrand Equilibrium. Would your answer change if there were three firms?

Reference no: EM13691163

Questions Cloud

Draw the indifference curve for this utility function : The following utility function is equal to the maximum of the amount of good x or four time the amount of good y: Draw the indifference curve for this utility function.
Stimulus package to produce the kind of gdp bump : In addition to the failure of the $830 billion "stimulus package" to produce the kind of "GDP bump" promised by proponents of the program, it also failed to deliver on the claim that it would ensure that the US unemployment rate would not reach 8%, a..
Profit maximising perfectly competitive firm : Examine the following statement to see whether it is true or false. If it is true, explain why it is true. If it is false, explain why it is false and then write the statement correctly.
Explain why the marginal revenue of a monopolist : Explain why the marginal revenue of a monopolist is below her demand curve. Please also indicate on the diagram below where the price elasticity of demand is elastic, unitary elastic and inelastic. Briefly explain why this is the case
Find the bertrand equilibrium : Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..
Find the symmetric nash equilibrium : Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..
Sudden unexpected growth in aggregate demand : Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

Reviews

Write a Review

Microeconomics Questions & Answers

  How to reduce the governments outstanding debt

Assume that the treasury is currently running large surpluses (tax collections exceed new government spending). On a S/D diagram show the effect on Treasury Bond markets of using these surpluses to buy back outstanding treasury securities.

  What are the benefits-challenges of being an entrepreneur

1. What are the benefits/challenges of being an entrepreneur and the benefits/challenges of working for someone else Which do you prefer 2. Of these, which do you think the US has in abundance

  What will be the unemployment rate for the economy

Suppose that a system of unemployment compensation isinstituted in the country, and the average duration of unemploymentrises for two months: a )What will be the unemployment rate for this economy now

  Why would the country for example china select to keep

why would the country for example china select to keep their currency relatively pegged to u.s. dollar? if the u.s.

  Now assume government imposes the special tax on the

a doctoral student has just completed a study for her dissertation and found the following demand and supply

  Provide a brief company and product description

Provide a brief company and product description and describe the characteristics of your chosen product that differentiate the product in the marketplace.

  Find the expected value decision would you select this why

suppose that a car rental agency offers insurance for week that will cost 10 per day. a minor fender bender will cost

  Why does a perfectly competitive firm maximize revenues

Why does a perfectly competitive firm maximize revenues where P=MC? Why is P=MR in this market type? Name a business you think belongs in this category. Why? Be sure you think about all of the assumptions about firms in this industry

  How to prevent the short-run economic recession

Assume that keynesian model applies to the economy in the short-run. After the stock market fell sharply in 2008, the aggregate denabd decreased greatly around the world. in order to prevent the short-run economic recession, which monetary policy ..

  Equations describe an economy

Equations describe an economy.

  Define marginal benefit

College education provides higher income for the individual, but also a more productive and more educated person who will contribute to society in many ways. Carbon dioxide emissions are thought to contribute to global warming, and there is concer..

  The five alternatives shown here are being evaluated by the

the five alternatives shown here are being evaluated by the rate of return

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd