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There are two firms competing in quantity. Firm 1 and 2 set their quantities supplied, q1 and q2, respectively. The production costs are zero. The market price is given by
where a ∈ (0,1/2) and b ≥0. Note that the inverse demand function is kinked at the point (1 - a, a).
This is a simple one-shot game. The firms simultaneously set their quantities. The objective of each firm is to maximize its profit, that is,
1. Derive the pure strategy Nash equilibrium and the equilibrium profits when b = 0.
Ans. 0.5 each
2. Derive the pure strategy Nash equilibrium and the equilibrium profits when b > 0. Note that two pure strategy Nash equilibria may exist.
Ans. All or nothing
3. Dose an increase in b benefit the two firms? This means that you should explain whether or not at increase in the demand size benefits the firm.
A car moves with constant velocity along a straight road. Its position is x1 = 0m at t1 = 0 seconds and is x2 = 56 m at t2 = 5.0 s. what is the cars position at t=2.5 seconds and
One way to use contiguous allocation of the disk and not suffer from holes is to compact the disk every time a file is removed. Since all files are contiguous, copying a file requi
Hi I have an assignment due of business statics on spss software
Explain the term “Trial Balance” and its needs for an organization. Ans. A Trial Balance is a statement of summarization of the all the involved ledgers accounts at the end of th
1. Provide a video or peer reviewed example analyzing the article and point out the Null, Alternative Hypothesis, and explain how z-testing was used.
difference between historigrams and histogram?
When are expenses credited? While common journal cost records are typically debited and have debit account balances, there are times when the cost records are acknowledged.
bookeeping cycle
Budgetary control The manage or management of a governmental component in agreement with an approved budget for the purpose of keeping expenditures within the limits of available
Q. What is Inference? Ans. Inference is the process of deriving conclusions based on facts or premises. We often make inferences based on the results of statistical studi
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