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Suppose that 2 firms both have average variable cost $50. Market demand is given by Q=100-P. Find the Bertrand Equilibrium. Would your answer change if there were three firms?
assume an industry is composed of the following eight firms.companymarket sharefirm a30 percentfirm b25 percentfirm c15
Presume an individual lives two periods. In period 1 she works full time and makes $100. In period 2 she enters partial retirement and makes $20. She can borrow and save at the constant, risk-free interest rate r. Draw her budget constraint. Label th..
The Marginal product of labor in production process is statistically estimated as MPL=10(K/L)^0.5 Currently the process is using 100 units of K and 121 units of L
The market for Sugar beet is in equilibrium at P = $15 and Q = 229995. The price elasticity of demand is -1. The price elasticity of supply is 0.6. Now assume that the government imposes a quota which reduces supply to 183,996
In a one-shot game, if you advertise and your rival advertises, you will each earn $5 million in profits. If neither of you advertise, your rival will make $4 million and you will make $2 million.
A competitive market is intended to result in improved efficiency, though it will not necessarily improve equity. That is, a competitive market might encourage efficient production but may not necessarily result in a redistribution of wealth
Explain the following statement: "Changes in disposable income lead to movements along the consumption function while changes in wealth lead to a shift of the consumption function.
demand for a good can be characterized by p 100 - q. there are two firms firm 1 and firm 2. they have identical cost
how will the entry of firms such as apple google amazon hulu and comcast into the business of streaming movies affect
When an excise tax is imposed on a commodity in order to raise revenue for the government or in in order to raise the consumption of the good, then why are these goals in conflict with each other?
Consider an economy in three periods, t = 0, t = 1 and t = 2. At t = 0, the market index is trading at a value of 100. At t = 1, the index either rises to 125 with 50 percent probability, or falls to 90 with 50 percent probability. Find the price you..
If the supply curve shifts to the right and the demand curve shifts to the right by an equal amount proportionately, what will happen to equilibrium price?
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