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One of these firms is considering opening up a new product line, in a market in which it would be the only firm. So, adjusting the notation to now capture demand in the monopolistically competitive industry with Q1(p1) = 140 − p1, and the demand it would face in the new second market with Q2(p2) = 100 − 2p2, what should the firm do? Assume that the firm faces costs equal to C(q1, q2) = 25 + 40q1 + 0.5q 2 2 + q1q2.
The knowledge is about Theory of Industrial Organization.
(GAME THEORY) Consider two colonels A and B ruling two opposing armies. Each colonel has 120 soldiers in their armies and there are 6 battlefields. Suppose colonel A and B distributes their armies as follows; A : 20 20 20 20 20 20 B : 21 21 21 21 20 ..
The total surplus (TS=PS+CS) under the old tax per unit was $2000. Next, government reduces the tax rate such that the total government revenue drops $200 below its previous value and DWL drops $100 below its previous value, what can be a possible ne..
Let X ∈ [0, 10] and y = f(x) = cx with c > 0. What is the slope of f(x)? Is it constant or it depends on x? What is the value of f(x) when x = 3?
Suppose the Federal Reserve Bank adopts expansionary monetary policy. Using the graph of supply and demand for the market of short term Treasury securities, show graphically and briefly explain what happens to the price of short term treasury securit..
A farmer is producing where MC = MR. Say that half of the cost of producing wheat is the rental cost of land (a fixed cost) and half is the cost of labor and machines (a variable cost). In the short run, the farmer should shut down because he is maki..
What steps can Congress and state legislatures take to alleviate a serious national shortage of skilled providers. Research suggests medical errors have been linked to inadequate staffing.
Lubbock County is planning to construct a bridge across the Rio de Lubbock to facilitate afternoon skiing in the El Dusto Ski Basin. The first cost for the bridge will be $6,500,000. Annual maintenance and repairs will cost $25,000 for each of the fi..
A large induced-draft fan is needed for an upgraded industrial process. The motor to drive this fan is rated at 100 horsepower, and the motor will operate at full load for 8760 hours per year.
Which of the following explains the distribution of income? Why can suppliers of goods can more easily shift the incidence of a tax to the consumer if the demand of the good is inelastic? What are intergovernmental revenues generally used to do? Whic..
Loan amortization and EAR You want to buy a car, and a local bank will lend you $35,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 11% with interest paid monthly. What will be the monthly loan pa..
q.firm 1 is the incumbent in a market lasting two periods with inverse demand curve p74 -9q. its first-period costs are
"Mercantalism recommends that a country should limit its exports, so that more of the otherwise-exportable products are instead available for local consumption." Do you agree or disagree with this characterization of mercantilism's message? Explain.
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