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Two firms, A and B, have complete control of the supply of mineral water and both have zero costs. The market (inverse) demand function is given by: P = 200 – 10Q, where Q = qA (output of seller A) + qB (output of seller B). Their best reply functions (BRP) are given by: qA = 10 - .5qB qB = 10 - .5qA
c) Assume each firm can select two output strategies—specifically the strategies from parts (a) and (b). Denote these alternative output strategies qa and qb. Compute and payoff/profit matrix showing the four possible outcomes.
d) Does the game that you developed in preceding part have a determinate outcome—i.e., is there a dominant strategy? Explain.
The Nottinghamshire Research Observatory in England calculated that students who attend Nottingham Technical University spend about £2,760 each in the local economy for a total of £50.45 million. In total, the impact of their spending on the local ec..
During droughts, cities often impose water use restrictions on consumers. Suppose Rusalka has preferences for Water (W) and other goods (X) given by the utility function: U(W, X) = WX. Suppose the government imposes a quota limiting water use to a ma..
What would happen to the demand curve if the major taxi companies lowered their prices? If you were asked to forecast future demand for this firm, how would you set up a forecasting model?
Compute a 99% confidence interval rather than a 90% confidence interval. The increase in confidence indicates that we have a better interval.
Write about the long-term system. What is it? How does it work? Who pays for it? Who gets insurance? As much as you can - Passive Euthanasia in Sweden: This is the thing about helping people who are very sick and want to die.
The marginal damage to your neighbor's business is a function of how many alligators you keep and the amount of money spent on a fence that separates your properties:
Explain the ethnocentric, polycentric, egocentric, and geocentric approaches toward international human resource management, including when and how each is best used.
If there are 200 rooms also the operating costs $20,000 plus a cleaning fee of $5 per room per day, compute the profit during the one-week period.
Assuming labour demand is downward sloping and that the labour market is competitive, what happens to national income as a result in immigration.
Illustrate what effect would customer expectations of substantial price increases in music players have upon the demand for portable music players in a completive marketplace
You would like to retire 30 years from now. You will deposit an equal amount of money every month for the next 20 years into a retirement account that pays 6% nominal interest compounded monthly. You have decided that the total amount you will need..
If the demand for gold residue high explain what would happen to the price in excess of time.
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