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(Cournot's game with many firms) Consider Cournot's game in the case of an arbitrary number n of firms; retain the assumptions that the inverse demand function p(Q) = a - Q if Q ≤ a and 0 if Q > a. The cost function of each firm i is ci(qi) = (c/2)*qi^2 with c < a. Find the best response function of each firm and set up the conditions for(q*1, . . . , q∗n) to be a Nash equilibrium, assuming that there is a Nash equilibrium in which all firms' outputs are positive. Solve these equations to find the Nash equilibrium. (First show that in an equilibrium all firms produce the same output, then solve for that output. If you cannot show that all firms produce the same output, simply assume that they do.) Find the price at which output is sold in a Nash equilibrium and show that this price decreases as n increases as the number of firms increases without bound.
Business proposal for your chosen good or service. Include assumptions about the elasticity of demand and the market structure for the good or service.
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The government decides to tax cookbooks because they feel that they encourage overeating and can lead to health issues, like obesity and heart disease. Answer the following: in 600-800 words
he most recent studies of lifetime medical costs of treating AIDS? a)have shown a significant increase in the estimates due to earlier diagnosis b)have shown a significant increase due to the use of new drugs including protease inhibitors
three friends are choosing a restaurant for dinner. here are their preferences rachel ross joey1st
A machine costs $5,240 and generates an annual end-of-year benefit of $1,000 for 8 years. If a nominal annual interest rate of 9.532% with continuous compounding is assumed,
Now, suppose the U.s. government wants to buy enough wheat to raise the price to $350 per bushel With this drop in export demand, how much wheat would the government have to buy? How much would this cost the government?
What is Benefit cost ratio for each project? What is Payback Period for each project? What is Future Worth or Terminal Value for each project?
Detail the compensable factors of a position you are familiar with and their impact on that position's salary, and you may want to reference the job analysis and job description process, which form the foundation of job evaluation.
When the Great Depression caused a slump in diamond prices, De Beers Consolidated Mines undertook successful efforts to control the world supply of uncut diamonds and to increase consumer demand for cut diamonds. The company was able to increase c..
1. Water is produced and sold by the government. Demand for water is represented by the linear func-tion Q=50-2P. The total cost function for water production is also a linear function: TC(Q) = 100 + 10Q.
1. only 2 families the arrows a and the benthams b inhabit little society. each family has onechild. the 2 families pay
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