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Recall that in chapter 9, we considered a large manufacturing monopolist selling to individual retailing monopolists. Recall that in one parameterization of the problem, there were ten retailers, three of whom faced demand of the form p = 12 - 9x, five of whom faced demand of the form p = 12 - 6x, and two who faced demand of the form p = 12 - 2x. Costs of production and sales were zero. The retailers are price-takers in their dealings with the manufacturing monopolist.
(a) Assume that the manufacturer can tailor a take-it-or-leave-it offer for each individual retailer, of any form desired. To maximize her profits, what should the manufacturer do?
(b) Suppose the manufacturer is compelled by law to make identical offers to all ten retailers, but she can otherwise make take-it-or-leave-it offers, offers with menus where retailers are restricted to taking only one item from the menu, and so on. What is the best the manufacturer can do in this instance?
A heat exchanger is being installed as part of a plant modernization program. It costs $80,000, including installation, and is expected to reduce the overall plant fuel cost by $20,000 per year. Estimates of the useful life of the heat exchanger r..
the city council of collegeville receives a petition from students complaining about the high rents in town. As s result the council creates a price ceiling that is $100 below the equilibrium price. What is the new market price
The government will choose the applicant that spends the most money lobbying the government members. If the applicants cannot collude, how much will each spend on lobbying? (Hint: The winner will set the monopoly price for the service.)
Two oligopoly firms are in the process of evaluating their marketing strategies. Firm 1 can generate estimated profits of $10 million from strategy A if the second firm reacts by strategy C, and $15 million from strategy A
He pays $50 per month in premiums and his deductible is $2,500. If he is involved in an accident that does $2,000 worth of damage to the boat, how much will he have to pay?
What is the probability that at the end of the four exchanges all the balls will be in the jar where they started?
A $90,000 investment is made. Over a 5 year period, a return of $30,000 occures at the end of the first year. Each successive year yields a return that is 10 percent less than the previous year's return. If money is worth 5 percent.
if demand is unit elastic (the elasticity is 1), a 1% price cut increases the quantity sold by 1% and total revenue does not change. the question is: Assume the initial price is 1 and the initial quantity demanded is 1, thus the total revenue is 1..
Urea is used as a fertilizer in cultivation of agricultural products. In Pakistan there are very few industrial plants for the production of urea. Energy shortage has badly affected the production of these industrial plants. This situation has inc..
Think of the concept of utility and how Foreman's role as a celebrity endorser affects the marginal utility of these grill products. Some individuals may use a Foreman grill to grill beef
A perfectly competeitive, constant-cost industry has a markey demand curve P=100-(1/5)Y where Y is the aggregate output in the market. Each firm has a U-shaped long-run average cost function with a minimum of $10. The efficient scale of production..
Two airlines, A and B, are deciding to choose whether Atlanta or Chicago should be their major hub. Given the diagram here, find all equilibria of this game. Airline A Atlanta..
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