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Suppose you are given the following information:
Market demand- P= 60-q where Q is the total amount of the good supplied in the market-
A. Assume that there are two firms in this market Firm A and Firm B. Furthermore, Firm A's total cost function is given by Ca (qa) = 10 + Q^2 a and firm B's total cost function is given by Cb(qb) = 10 + q^2 b. Suppose that the two firms decide to collude( split output and production evenly) and work as a monopolist. Fund the market price, output, and profits of each firm. Explain
B. Explain why this is not a Nash equilibrium in this market under quantity (Cournot) competition.
Reduce the game by IEDS as far as you can. For the original game, find all Nash equilibrium in pure strategy and the equilibrium payoff. For the original game, find all Nash equilibrium in mixed strategy and the equilibrium payoff.
You do not incur any cost to produce goods you sell and thus your profit equals selling price if you make a sell. Or three sellers do not have any costs either.
We have following data on Portugal. year 1960 2010 GDP (billions 2005 US$) 23.109 218.569 Population (millions) 8.107 10.676 Labor (millions) 3.393 4.909 Capital (billions 2005 US $) 55.221 888.273 The average annual growth rate of GDP is . The avera..
In a statement to Gillette’s shareholders, Chairman and CEO James Kilts indicated, “Despite several new product launches, Gillette’s advertising-to-sales declined dramatically . . . to 5 percent last year. Gillette’s advertising spending, in fact, is..
What output market with the appropriate starting position and show what effect the contractionary policy would have in the output market.
A mechanical engineer is considering two robots for improving materials handling in the production of rigid shaft couplings that mate dissimilar drive components. Robot X has a first cost of $84,000, an annual maintenance and operation (M&O) cost of ..
What is the lowest price John can offer for this contract?
An exogenous event has left the interest rate in a position above the LM curve. Describe the disequilibrium in the financial market. In which direction should you expect the interest rate to change?
Time to failure distribution of a computer memory chip follows Normal Distribution with mean 9000 hours and standard deviation 2000 hours. Find the reliability of this chip for a mission of 8000 hours?
How much should it raise government spending, if the government looks to raise income to 3000.
Aristotle wrote in the Nicomachean Ethics that ethical virtues are what? "If someone appears to be violating the consistency principle, then the burden of proof is on that person to show he or she is in fact not violating the principle." What fallacy..
When would it make sense for a factory that is losing money to remain in operation
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