Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Assume a duopoly and let demand be given by P=A-BQ. In addition, let both firms have the same marginal cost c. The interaction between the two firms will be repeated infinitely. Both firms play a grim trigger strategy: they collude and play the cooperative action upon which the firms have agreed (monopoly) as long as both firms always stick to the agreement. However, if any firm should deviate from the agreement then they will revert to the Nash equilibrium forever.
a) if firms collude, what is the profit of each firm?
b) suppose the firms compete in quantities. If firm 1 deviates from collusion in one period, what is the profit of firm 1 in that period? in the subsequent periods?c) what condition must the discount factor satisfy for collusion to be sustained if the firms compete in quantities?d) what condition must the discount factor satisfy for collusion toe be sustained if the firms compete in prices?
Describe how the equilibrium in a labor market with a monoposony employer changes if a minimum wage is set at the competitive level.
Discuss and explain whether demand, equilibrium price, and quantity increases or decreases for gas and red meat, respectively, in the following two scenarios.
Graph the accompanying demand data, and then use the midpoint formula for E d to determine price elasticity of demand for each of the four possible $1 price changes.
Given the following predictions for nominal wage increases and productivity growth, state your forecast for inflation (assume this is all the information available to make the forecast).
Determining at least two websites or articles to help you answer the following questions about the petroleum industry. It is to be done is précis of the major points of the article or Web site, and to be referenced.
An illegal cartel has been formed through 3-leading ready mix cement suppliers in the local market. Total costs at various levels of service a day are as follows:
Determine the economy current stage in the business cycle and support your answer with an article written within the last week from popular press or blog.
Suppose that a perfectly equal distribution of income existed in Disneyland. Which of the reccent residents would have the same income he or she has in present distribution?
If the government decides to intervene to return the economy to full employment, elucidate what will happen to the economy in the short run and in the long run.
Consider a competitive market for which the quantities demanded and supplied (millions per year) at various prices are given as follows:
Find out the average total cost and average variable cost as a function of the level of output. Assuming the firm has the same cost curves in the long-run for q>0 and C (0) =0, how much will it produce in the long-run?
Assume whether you believe the organization will expand or contract as well as address the price elasticity of demand and competitors.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd