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Consider a Cournot duopoly. The market demand is p=190-q1-q2. Firm 1's marginal cost is 40, and firm 2's marginal cost is also 40. There are no fixed costs.A. Derive every firm's best response function.B. What is the Nash equilibrium of this model? Search the equilibrium market price.C. Find the equilibrium profit for every firm.D. Find the equilibrium consumer surplus in this market.
What is social inclusion? Social Inclusion: Social inclusion implies the whole of society enjoys the advantages of economic activity (as income) and have complete access
Illustrate the implications of agricultural price instability problem for Less Developed Countries? Implications of agricultural price instability problem for LDCs: a. Agric
If nominal GNP enhances at a rate of 10 per cent per year whereas the GNP deflator enhances at 8 per cent per year then show how much real GNP rises. Explain?
Nathan is a successful public relations (PR) consultant, thanks to an outgoing personality and sharp intelligence. At 35, he is near the height of his earnings potential, at around
Demonstrate graphically the cost of income taxation of 30% to consumers and producers for an income of $27,908. How does the taxation change if the income was $220,874? How does
Explain the implications international capital flows problem. Implications: • FDI can assist physical capital accumulation and result within growth - usually beneficial b
A member of your team shows disruptive behaviour. Her work is excellent but she is not a team player. The results are that she does not make a payment to team effort and her collea
What are the assumptions of Lewis? LDCs (Less Developed Countries) have two (dual) economies as: • Rural traditional economic and social practices, which overpopulated, s
theory of profit maximisation
What is meant by the term managing expectations? Why is expectation management a significant part of the project manager’s job? What affects a customer’s expectations? We all h
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