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Output is homogenous and the demand curve is P = 30 - Q.
There are two firms and production is constant returns to scale. Let the unit costs of firm 1 be c1 and the unit costs of firm2 be c2.
(a) Find expressions for the Cournot equilibrium firm outputs.
(b) Find expressions for the Stackelberg equilibrium firm outputs.
(c) Compare the efficiency of the Cournot and Stackelberg equilibria when c1 = 5 and c2 = 5.
(d) Compare the efficiency of the Cournot and Stackelberg equilibria when c1 = 8 and c2 = 5.
(e) Compare the efficiency of the Cournot and Stackelberg equilibria when c1 = 10 and c2 = 5.
(f) Provide an intuitive explanation for the efficiency rankings found in (c) through (e).
You have observed the following returns over time. Suppose that the risk free rate is 6 percent and the market risk premium is 5 percent.
Compute the equilibrium under the assumption that Arrow-Debreu securities are traded in time 0 after the realization s0 = H.
A dentist sees about fifteen new patients per month (the rest of her patients are repeats). She knows that on average, over the past year, about half of her patients have needed at least one filling on their first visit.
assume two classmates a and b are assigned an extra group project. each student can choose to shirk or work. if one or
Suppose you have been offered chance to participate in a Treasure Hunt game whose rules are as follows. There are 3-colored boxes: red, green and yellow.
Calculate the reliability over a 37 hour period and what is the steady state availability of the system.
Draw a game tree and find the Nash equilibrium for this game and explain can country A change the outcome of the game by burning the bridge they are crossing to invade and committing its troops to fight?
Describe the meaning of a Nash Equilibrium when companies are competing with respect to price. Explain why is the equilibrium stable?
Is the income elasticity of demand for real cash balances significantly different from one?
a consider the same game as in question above but suppose t is not known.instead we know that the game continues with
Demand for airline tickets fluctuates throughout the year, which affects the price of an airline ticket. Suggest the type of game that may be most appropriate for a specific airline to play to address the differences in demand and elasticity and the ..
Explain why the threatened action is not automatically credible, given your payoff structure. Explain why the implied promise is automatically credible.
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