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Consider a standard Cournot oligopoly with n ≥ 2 identical firms, an inverse demand function P(X) = a - bX, and cost function C(x) = K + cx if x > 0, and 0 if x = 0, meaning K is a fixed cost.
a. Find the Cournot equilibrium output and profit. How many firms (as a function of K) can survive at the equilibrium?
b. When is an m-firm merger profitable to the merged entity? To the nonmerging firms?
c. Give a precise economic intuition as to why most mergers are not profitable in the usual model with K = 0. How is it different when K > 0?
Flintstones, Inc., markets a small solid cylinder of a spark-producing alloy used to ignite the fuel in residential furnaces. Currently, the company's products are sold to other manufacturers who then incorporate it in their merchandise. The yearl..
If reputations are important, which restaurant will have a greater incentive to offer good service-one that is part of a national chain (such as McDonald's or Burger King) or one that is locally owned?
You are given the data below for 2008 for the imaginary country of Amagre, whose currency is the G. Consumption 350 billion G Transfer payments 100 billion G Investment 100 billion G Government purchases 200 billion G Exports 50 billion G Imports ..
An engineer wanted to celebrate graduating and getting a job by buying $2,400 of new furniture. Luckily the store was offering six-month financing at the low interest rate of 6% per year compounded monthly. Calculate the amortization schedule.
Find any differences in the set of variables used in a regression model of demand for customer durable and a regression model of the demand for fast moving consumer goods
How would you expect the choice to be made? Who would most strongly favor moving to E1 ? versus E2 ? What policy would correspond to "balanced growth"?
Normal people are willing to pay $250 and their desire to purchase doesn't vary with time. Ignore the time value of money and compute the optimal pricing scheme of the iphone. Assume that there are equal numbers of each customer type and the MC of..
Calculate consumption in each period of life. Compare this answer to your answer to part (a) of Problem 5, and explain any differences.
Kamini consumes tacos and burritos. Suppose her marginal utility for tacos and her marginal utility for burritos are constant @ 4. Also, the price of a taco = $1.00, price of burrito = $2.00 Kamini's income (budget) = $20.00
Suppose the town keeps track of the contributions and issues passwords to people who contributed at least $20. Would you expect the total contributions to cover the $20,000 cost? 30.
2. the first equation to be estimated is fxi b0 b1 uri uiwhere u is a disturbance term and the i subscript
Suppose that there is a negative externality in the market for trout in Colorado. Letting Q represent pounds of trout, explain (using graphs and words) why government intervention in the market for trout may be appropriate.
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