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Ninja Turtles versus Tai Chi Frogs. The demand for fantasy amphibians is linear, with a slope of $0.01 per amphibian. The average cost of production is constant at $3. The demand curve intersects the horizontal average-cost curve at a quantity of 600 amphibians. A firm selling ninja turtles currently has a monopoly, selling 300 turtles at a price of $6. A second firm is considering entering the market with tai chi frogs, and the minimum entry quantity is 100 amphibians. If the turtle firm is passive and lets the frog firm enter, each firm will sell 200 amphibians at a price of $5.
a. Draw a graph like the one shown in Figure 27.9 on page 588 with all the relevant numbers.
b. Draw a game tree like the one shown in Figure 27.10 on page 588 and predict the outcome of the game. How will the turtle firm respond to the threat of entry? Will the frog firm enter the market?
c. How would your response to part (a) change if the minimum entry quantity dropped to 50 amphibians?
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Liz Taylor bought some farming lands for $100,000 five years ago. She sold the property this year for $500,000. If the annual inflation rate for the past 5 years has been at 6%, compute the after-tax real interest rate for this investment.
consider a perfectly competitive market with 10 firms firm 1 firm 2...firm 10. firm 1 through firm 9 have the same cost
How much profit will she make when maximizing total revenue?
Calculate output per worker and consumption per worker for each country. Which country has the highest output per worker? The highest consumption per worker?
Format: Your essay should be typed according to MLA format. You will need to refer to the text of the play you are analyzing. Be sure to use appropriate MLA format for both in-text citations and list of works cited. No title page is necessary.
A decision maker wishedto maximize total benefit, B=3x+xy+y, subject to the cost of constraint, C=4x+2y=70. Set upthe Lagrangian and then determine the values of x and y at the maximum level of benefit,given the constraint. What are the maximum be..
A demand curve is given by the following equation: P = -2Q + 40. i) Calculate the Total Revenue when Q = 5 and when Q = 8. ii) Calculate the price elasticity of demand between Q = 5 and Q = 8. Round decimal answers to two places.
Calculate the present worth (year 0) of a lease that requires apayment of $20,000 now and amounts increasing by 5% per year through year 10. Use an interestrate of 14% per year.
Real GDP in the U.S. increased by a% in 2008 and increased by b% in 2009, and increased by d% in 2010. In class, we learned that the average annual growth rate of real GDP for the period 2008-2010 can be (1) approximated as: (a% +b% +d%)/3
Break the loop at the gate of M2, determine the loop gain, and prove that the feedback is positive.
Global Investment Group operatesin a perfectly competitive industry with the following Cost andRevenue data Average Total Cost = $2.50; Quantity sold =9000 Units; Price Per Unit = $3.50; Marginal Revenue = $3.50;Marginal Cost = $3.50:
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