Differences among the name-your-own-cost model

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Reference no: EM1321385

Q. Consider the marketplace for a good with a fixed demand curve (that is the demand curve does not change), an incumbent firm (Firm 1) also a potential entrant (Firm 2). Both firms have the same cost curve. If the fixed cost of construction increases, after that the equilibrium profit of the incumbent will fall. Argue.

Q. Elucidate how a profit-maximizing firm conclude s its optimal level of output, utilizing marginal revenue also marginal cost as criteria.

Q. Illustrate what are the major similarities also differences among the name-your-own-cost model also the electronic tendering system?

Reference no: EM1321385

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