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1. Name some different forms of imperfect competition.
2. Define Nash equilibrium. Why do firms in oligopoly situations reach Nash equilibria?
3. Why are collusions and cartels often unstable?
4. What is the market equilibrium in Bertrand competition with identical goods?
Profits University produces student credit hours(y) with two inputs:Professors' hours of work(P) and TA's hours of work(T) according to the production function:f(P,T)=10P^(1/2)*T^(1/4). Both inputs are variable. Suppose professors are paid $80 per..
Discuss the issues arising from the disruption of technological change on the perceptions of those in the work force.
Suppose that actual output is $120 billion and potential (full-employment) output is $156 billion. What is an output gap in this hypothetical economy? Based on your estimate of the output gap, would you expect the unemployment level to be higher o..
The Crockett Land Winery must replace its present grape-pressing equipment. The two alternatives are the Quik-Skwish and the Stomp-Master. The annual operating costs increase by 12% each year as the machines age. If the interest rate is 9%, which ..
How much of each good will he demand in this case? (The price of x1 is 3$ but his income has decreased)D) Calculate utilities obtained by bundles without tax and with income tax. Draw Jack's best bundles in a graph. (Budget curves, best bundles an..
Using the regression results and other computations from Assignment 1, determine the market structure in which the low-calorie food company now operates.
Your company modifies high-end computers for use as servers for robotic manufacturing devices. You occasionally have problems with hardware failures that are in excess of what you feel is normal.
Suppose that the political conflicts between the U.S. and oil exporting countries caused the oil exporting countries to institute an oil embargo against the U.S. Then the U.S. government started considering imposing a tax on gasoline
Plot the steady-state level of consumption per unit of labor as a function of s. Show that it is maximized when 1 k = 0:15.
Suppose that the U.S. demand for maple syrup, in thousands of gallons per year, is Qd 6000 - 30P. What is the elasticity of demand at a price of $77 per gallon?
How does the strength of other economies outside of the U.S. affect your organization?
What is the annual equivalent value of a geometrically increasing series of payments which has first-year base of $50,000 increasing by 10% per year for 10 years with an interest rate of 8% compounded continuously
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