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Suppose that inverse demand is given by D(Q) = 56 − 2Q, Q = q1 + q2 and the cost function is TC(qi ) = 20qi + f (a) Find the limit output for fixed costs ( f ) equal to 50, 32, 18, and 2. (b) What is the SPNE for the entry game with the following timing: in the first-stage firm 1 can commit to its output; in the second stage firm 2 can enter and choose its output for fixed costs equal to 50, 32, 18, and 2?
Why is the unrestricted entry of new firms to all markets necessary to assure the efficient allocation of resources in the long run?
We suggested above that an annually increasing renewal fee would be an efficient means of setting optimal patent life. Similarly, suppose that owners who wanted to restrict future use of their property had to pay a fee for each year that the restrict..
Would the following events usually lead to capital deepening? Why or why not? A weak economy in which businesses become reluctant to make long-term investments in physical capital.
Suppose the market for gelato is perfectly competitive, and that gelato is a constant cost industry. The long-run cost function for producing gelato is TC(Q) = Q^3 ? 2Q^2 + 5Q. The demand for gelato is Q = 300 - 2p
1. price discriminationa. indicate the types of price discrimination for the cases below. based on the above examples
Illustrate what should be the production level if the producer operates in a monopolistic competitive market where the cost of software at each possible quantity
Do you see our communities growing closer together or further apart. One page double spaced.
Illustrate what is the marginal cost of the 1,000th packet. Is this firm making an economic profit, a normal profit, or an economic loss
What is the difference between an economic profit and an accounting profit, give an example? 3. Discuss the difference between diseconomies of scale and diminishing returns. Based on the cost curves which is more likely in businesses?
q.1. assume that you are to estimate the costs of eithera project proposal to construct a dam in your local area for
Newspaper vending machines are designed so that once you have paid for one paper; you have access to all the papers in the machine and could take multiple papers at a time. However, other vending machines dispense only one item (the item you bought)...
Illustrate what did classical economists assume about flexibility of prices, wages and interest rates. Illustrate what did this assumption imply about self-correcting tendencies in an economy in recession.
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