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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.)
Design a database using professional principles and standards
Glenda Corporation has the following assets at year end:
What is the private value of innovation to the innovating firm? What if the innovation were drastic so that the innovating firm exists as a monopoly after the innovation?
justify telling private industry how to set up or improve their cybersecurity?
Toto Company reports the following on its year end balance sheet:
Let the total welfare gain from the innovation be given by W = V + S. Compute expressions for W for both competition and monopoly.
What is the function of the system -
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China has continued to lag well behind the rest of the world in information technologies
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A firm that makes car parts wants to adopt pay schemes that will best motivate its various workers to be productive and they hire you as a consultant.
Interpret these results. Is profit per employee much sensitive to industry-specific or firm-specific factors for this sample of giant corporations.
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