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There are two firms (a,b) and two consumers (1,2). Consumer 1 is more attached to firm a and consumer 2 is more attached to firm b. The maximum price that any consumer is willing to pay is $12. However, if the price difference is greater than $d, they will buy from the lowest price firm. In each game, firms submit simultaneously the prices. This means that as a firm you do not know what price your competitor will charge. If you are too ambitious, you may price too high and lose all the market. If you price very low, it is likely that both consumers will buy from you, but you may not get much from each. You must submit one price for each of the following cases:1. d=1 2. d=2 3. d=3Use your inputed strategy pairwise against each of the strategies submitted by others in the class. Your score will be the total profits made.Input your price (between 0 and 12) for each of the following cases:Price for d=1 , p=Price for d=2, p=price for d=3, p=
21st Century Pen Inc. produces 2000 pens per day, and hires 20 workers at a cost of $200 per day per worker. The price of each pen is $5 each. 21st Century Pen Inc. pays a daily rental rate of $60 on its factory and a daily insurance rate of $20. ..
Calculate the extra output due to the water project and calculate the annual output of the village if the water project would be installed in $s
What is the gross real rate of return on fiat money in economy?
Consider a family that ranks combinations of household production time (N) and purchased goods and services (Y) according to the formula: U= NY. Suppose the maximum time available in a day is 16 hours, the wage rate is $4 per hour and the fa..
In an effort to stop the migration of many of the automobile manufacturing facilities from Detroit area, Detroit's city council is considering passing a statute that would give investment tax credits to auto manufacturers.
What things impact the value of the dollar Does anyone know why the Chinese Yuan remains very weak against most currencies and thus allows them to export so much Is it fair that the Yuan is made weak against other currencies
What is their share in the market? Which is your target market? What external sources may influence our operations
Highest average fixed cost at which the firm can produce any given level of outputd. lowest marginal cost at which the firm can produce any given level of output
Apple recently launched the iPod nano under 2-different versions:2GB and 4GB. There are two types of customers of the iPod nano.
a pure monopolist sells output for 4.00 per unit at the current level of production. at this level of output the
calculating earnings per share price-earnings ratio and book value. as a stockholder in bozo oil company you receive
The interest rate effect suggests that the negative slope of the aggregate demand curve results at least in part because changes in the price level affect:
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