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1. Consider two firms producing an identical product in a market where the demand is described by p = 1; 200 2Y. The corresponding cost functions are c1 (y1) = y21 and c2 (y2) = 3y22.
(a) State the profit maximization problem of firm 1 and use the first order condition to derive firm 1's reaction function.
(b) State the profit maximization problem of firm 2 and use the first order condition to derive firm 2's reaction function.
(c) Solve the system of reaction functions to identify how much each firm is producing; what is the market quantity, the market price, and the corresponding individual and collective profits.
(d) Assuming that the firms can coordinate their actions, what are the individual quantities produced the market quantity, the market price, and the resulting joint profits?
(e) How will the firms distribute the joint profits (Hint: find the minimum amount that each firm is willing to accept and the maximum amount available for each firm under the cartel agreement ). Is this form of cooperation sustainable? Explain.
please compute this number 885 for the swertres lotto game.
write a program in c that takes n number finite players using gambit format and output is to be all pure strategy nash equilibrium
A set of colluding bidders. Ring participants agree to rig bids by agreeing not to bid against each other, either by avoiding the auction or by placing phony (phantom) bids.
1. Consider two firms producing an identical product in a market where the demand is described by p = 1; 200 2Y. The corresponding cost functions are c 1 (y 1 ) = y 2 1 and c 2
A type of sequential second worth auction, just like an English auction during which an auctioneer frequently raises the present worth. Participants should signal at each worth lev
A sequential game is {one of|one among|one in all|one amongst|one in each of} excellent data if just one player moves at a time and if every player is aware of each action of the p
A pure strategy defines a selected move or action that a player can follow in each potential attainable state of affairs in a very game. Such moves might not be random, or drawn fr
A non-cooperative game is one during which players are unable to form enforceable contracts outside of these specifically modeled within the game. Hence, it's not outlined as games
A practice analogous to price fixing in which auction members form a ring whose associates agree not to bid against each other, either by discarding the auction or by placing phony
GAME PLAYING IN CLASS There are several games that are appropriate for use on the first or second day of class. These games are simple but can be used to convey important poin
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