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Consider the following duopoly where firms choose their quantities (qi ∈ [0, ∞)) simultaneously. Firm 1 has a cost of c1 (q1) = 20q1 and firm 2 knows this cost. Firm 2 has either a cost of c2 H (q2) = 30q2 or a low cost of c2 L (q2) = 15q2. Firm 2 knows their cost, but firm 1 doesn’t know firm 2’s cost, but believes that firm 2 has a high cost with probability 1/3 and a low cost with probability 2/3. The market demand curve is...
P(Q) = ( 120 − 4Q Q < 30 ) 0 otherwise
a) Find the Nash equilibrium of the Bayesian game.
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In the country of Dagobah, the velocity of money is constant. Real GDP grows by 3 percent per year, the money stock grows by 8 percent per year, and the nominal interest rate is 9 percent. What is: The growth rate of nominal GDP? The inflation rate? ..
Consider a Cournot duopoly with the inverse demand P = 260 - 2Q. Firms 1 and 2 compete by simultaneously choosing their quantities. Both firms have constant marginal and average cost M C = AC = 20. Find each firm’s best response function.Find the Cou..
State independence with insurance refers to
For retirement planning, you decided to deposit $1,000 per month and increase your deposit by $100 per month. How much will you have at the end of 10 years if the bank pays 3% annually, compounded monthly?
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