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1. Suppose Airbus (firm A) and Boeing (firm B) are the only two companies in the aircraft industry and they choose quantities of outputs to compete. The industry demand and cost conditions are (note that costs are different for the two companies): P = 60 - 2 (qB + qA) MCA = ATCA = 20, and MCB = ATCB = 10 a) Assume that the two firms choose quantities simultaneously and solve the Cournot-Nash equilibrium. Be sure to characterize the quantity choices, the market price, and the resulting profits. b) Suppose that Boeing is the Stackelberg leader and chooses its quantity first, then Airbus makes a move observing what Boeing has done. Solve the equilibrium in this sequential game. Be sure to characterize the quantity choices, the market price, and the resulting profits. c) Compare the above two outcomes and explain the differences.
Calculate the percentage change in nominal GDP, real GDP also the GDP deflator in 2002 also 2003 from the preceding year.
Illustrate what will be the cumulative effects including the multiplier for each of the above three policy choices.
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A Chinese retailer offers to purchase running shoes for $55 per pair and tennis shoes for $55 per pair for distribution in China. Should the shoe company sell any shoes to the Chinese retailer?
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Bobby is the only man standing next to exactly one handsome man. 4. Clinton is the only man not standing next to exactly one scarred man. Who is fair, handsome and unscarred?
find the quatanties of capital and labor that maximize output,while at the same time satisfy the firms budget constraint. what will happen to the firms output if the budget is raised by 100?
Compute equilibrium price also quantity. Illustrate what would have occured if price had remained the same
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