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Two firms with differentiated products compete in prices with demands: q1: 1-P1+0.5P2 q2: 1-P2+0.5P1 Suppose that both firms can produce at the same constant marginal cost c. a. Draw the best response functions. b.Find the prices corresponding to the Bertrand-Nash equilibrium.
Assume the demand function for good X is Qd = 600 - 2PX + 7PR, illustrate what is the demand function for good x. Which investment produces a $40 daily profit for a game shop earning $2 profit from every game sold.
Adjust the following graph to show the changes in the market between 2001 and 2002.
If there were 2 million unemployed Thailand had a job-finding rate of 15% per month, how many people would lose jobs each month.
it can sell its output for $25 each. Illustrate what is break-Explain how your work both graphically and algebraically.
Suppose that the carnival and the circus have both come to town, and are both o?ering free admission. You have 6 free hours to kill. Draw the BUDGET LINE that shows your options for how you can spend the day.
Describe the long-run effects of patent expiration on prices, output and profit in a monopolistic industry.
Compute most favorable output also profit for each firm and the market price. Also, compute the resulting profit of cartel.
A competitive advantage furthermore earns a life span income of $6 million moreover the non-steroid user earns $1 million.
Provide one quote and its context for both a positive and normative statement. Evaluate the statement choices of your fellow students.
Given your results from above, what is the equation for the Chunzheng's long-run total cost curve as a function of quantity Q. How much does it cost to produce 27,000 units?
Can we say that the plant in country b is more efficient than the plant in country A? Discuss in terms of both technology and economic efficiency.
He explains that the firm that has come up with the idea decided to start the coffee push cart in either Cleveland, Ohio, or Houston.
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