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In the text we consider an incumbent monopolist faced with entry if it failed to innovate. If the monopolist innovates, he remains a monopolist with lowered costs. If the potential entrant innovates, the two firms compete as Cournot duopolists. Take market demand to be P = 1 - Qand marginal costs to be ch = 0.4 without innovation and cl = 0.2 after the innovation. Show that consumer surplus when the monopolist innovates is lower than the consumer surplus that obtains when the entrant innovates. Would it be optimal for the government to award the potential entrant an additional lump sum for innovation in order to encourage the entrant to innovate? (Compare total welfare under the two scenarios.)
A group living in the United States in 2004 consisted of fifteen households with no elderly members. There were five single individuals living separately from each other (less than 65 years old). Their incomes were $7,000, $7,500, $8,000, $9,000, and..
In the specific factors model predict who seeks protection against trade and who does not. Explain your answer. How does your answer change in the Hecksher-Ohlin model? Explain
Three years ago Maricopa County implemented a policy to tackle the problem of particulate matter in the air. The project/policy consisted in paving and compacting some of the roads the dairy industry uses for feeding the cattle and transporting the m..
Rent controls force landlords to price apartments below the equilibrium price level. An immediate effect is a shortage (excess demand) of apartments, because the quantity of apartments demanded is greater than the quantity supplied at the regulated p..
One stay-at-home mom laments, “Lots of career women think the only reason I’m staying home is that I’m not capable of doing anything else.” Evaluate this criticism. In other words, is it true that the only reason women don’t enter the labor force is ..
each job this auto body repair shop handles is a special order job. What type of costing method would this auto body repair shop most likely use.
demand for labor in China will drive up costs per worker there to $5 per hour. How does this alter the isocost and isoquant graph? d.Given these forecasts, where should you expand production?
The company has determined that it would earn zero economic profits if price were equal to average total cost, and in this case it could sell 20,000 copies. In the short run, what is the profit-maximizing price of e-books relating to do-it-yourself..
Looking out over the next decade, estimate the likely standards of how MNE will create value. In your own opinion, which form of the MNE of the future is best designed to succeed? Why? Presuming IBM’s evolutionary perspective best represents the path..
q. a monopolistic firm control in 2 separate markets. no deal is achievable between market a as well as market b. the
Swagelok Enterprises is a manufacturer of miniature fittings and valves. Over a 5 year period, the costs associated with one product line were as follows: first cost of $30,000 and annual costs of $18,000. Annual revenue was $27,000, and the used equ..
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