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Suppose an industry consists of 2 firms that compete by choosing quantities simultaneously in each period t = 1, 2, 3,...... (in other words, the two firms play infinitely repeated Cournot game). Inverse demand in the industry is given by the linear equation P = 50 - Q. Marginal cost is equal to zero.
Question: Suppose now that consumers purchase only in odd period (t = 1, 3, 5,......). Thus, firms only interact odd periods. Assume that the demand in every two period is 50 - P. Also, suppose all firms discount future profit using the per-period discount factor \delta. How large must \delta be for this strategy to be a Sub game-Perfect Nash Equilibrium?
The City of Ames issued a new series of bonds on Jan 1, 2009. The bonds were sold at par ($1,000), have a 2.5% annual coupon rate and mature in 10 years, on Jan 1, 2019. Coupon interest payments are made semi-annually (on June 30 and December 31). Wh..
Production When you have completed your study of this chapter, you will be able to 1 2 3 4 Explain how economists measure a firms cost of production and profit. Explain relationship between a firm output and labour employed in short run.
A price-taking ?rm selling in a market with a price greater than the ?rm's average total cost should:
Calculate the amount of tax collections that the government will require in period two. If so, compute it; if not, explain why not.
Trace a copy of this diagram. Graphically depict the substitution and income effects. 2.2. Which effect is strongest? How can you tell?
What must the CFO have expected about the value of the British pound in $ today to believe that investment in British CD's was more profitable than investment in US CD's last July?
suppose that for a particular economy and period investment was equal to 100 government expenditure was equal to 75 net
Consider the following: Clark was considered to have “thought out the concept of marginal utility and its influence on exchange value” without having read Jevons, even though Jevon’s had already published. Discuss how this affected his contributio..
Find the equilibrium quantity and equilibrium price for the commodity whose supply and demand functions are given.
q1. compare and contrast the way classical and keynesian theory determine the demand for money and how it is related to
The price elasticity for rice is estimated to be -0.4 and the income elasticity is 0.8. At a price of $0.40 per pound and a per capita income of $20,000, the demand for rice is 50 million tons per year. If per capita income increases to $20,500, what..
Leading Auto Company was established in 1920. From its founding days, the company has built its reputation on producing quality vehicles at an affordable price.
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