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Q. Consider a market with demand Q = 10 - p. currently, there is an incumbent in the market, with capacity k. There is a potential entrant, who needs to pay a sunk cost of f to enter in this market. Firms may produce any quantity that does not exceed its capacity. There is no cost of production, but there is a cost of 3 per unit of available capacity. The timing of decisions is as follows: first, the incumbent decides its capacity level; second, the entrant decides its capacity level (a decision of 0 means that it stays out); third, the firms decide how much to produce. Verify that if f = 9/4 entry is deterred (i.e., the incumbent uses excess capacity to prevent.
As an industry moves from being a monopoly to a monopolistically competitive one. Illustrate what happens to elasticity of demand curve facing industry.
Assume that the demand for cigarettes is perfectly inelastic, whereas the elasticity of supply is one. The equilibrium price is $1 a packet and the equilibrium quantity is 1000 packets a week..
What is meant by "risk premium". Risk premiums on corporate bonds are usually anticyclical; that is, they decrease during business cycle expansions and increase during recessions. Why is this so.
If the probability of Verizon not advertising even though AT&T does not is 10 percent, what is expected payoff to AT&Ts decision to not to advertise?
Suppose that the price of the firm’s product is $20. What are the firm’s marginal and average revenue product functions? What is the firm’s short-run demand function for input Z.
Write expressions for total revenue and marginal revenue as a function of the number of tickets sold and compute the profit-maximizing quantity of tickets.
Assume the full- unemployment rate is 5% . What could the Fed do in 2002-2003 in order to bring the economy back to full-unemployment ? What did the Fed actually do? Explain in detail
In 1991 and 1994, Apple Computer engaged in a holding action in desktop market dominated by PCs using Intel chips and running Microsoft's operating systems.
Find Equilibrium GDP (Y). If potential GDP is 1950, is the economy in a recessionary or inflationary gap. Suppose that the MPC, falls to 0.75, so C = 0.85DI. Find Equilibrium GDP.
q1. soft selling and adverse selection soft selling occurs when a buyer is skeptical of the quality or usefulness of a
How does the law of demand relate to the price and demand for gasoline in the United States? Does this law accurately reflect reality? Use current research, personal experiences, and economic concepts to state your response.
Lean Burger's drive through receives 20 customers in every ten minutes of business time.
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