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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.
Two researchers test the same hypothesis. Researcher A rejects the null hypothesis and researcher B fails to reject the null hypothesis. Discuss three reasons that could cause the
TIME SERIES ANALYSIS: 1) Discuss the various models of Time series. 2) What are the various methods of trend analysis? What are their implications in the business world?
Problem 1 . Let X 0 ;X 1 ;X 2 . . . be a Markov chain with state space f1; 2g and transition probabilities given as follows: p 11 = 0:3; p 12 = 0:7; p 21 = 0:5; p 22 = 0:5:
Generate 1000 samples for each of the following continuous random variables: (a). Exponential distribution with λ = 1.2 and λ = 2.1 (b). Normal distribution with μ = 3.1, σ
a fair die is thrown 3 times. Let X1,X2,X3 denote the results of 3 throws. What is the probablity that p[X1>X2+X3]
What are the differences between Histogram and Historigram, list out the points.
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Which type of correlation would be appropriate to calculate for the each of the following sets of data? A. Correlating gender and year in college (freshman, sophomore, junior,
Hi I have done my report based on SPSS data but need a help for deeper analyzing and correcting this what I have already done. Would you be able to help me and if so how much would
how to write and assignment on the balance sheet?
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