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Consider a Bertrand duopoly. The market demand is q=190-p. Consumers only buy from the firm whose price is lower. If two firms charge the similar price, they share the market equally. The marginal cost for firm 1 is 40, and the marginal cost for firm 2 is also 40. There are no fixed costs. A. Find the Nash equilibrium of this Bertrand game.B. Find the equilibrium output and profit for every firm.
A university has a small dorm with four rooms, in which three sophomores, A, E, and J, and a freshman, C, are residing. Not being equipped with gas/electricity meters for individua
Foreign Exchange Market and Arbitrage Process: 1. Suppose that the Brazilian Real is quoted at R 0.9955-1.0076/US$ and the Thai Baht is quoted at B25.2513-3986/US$. What is
Problem 1 Different purposes of reading require different methods of reading. Describe the various ways of reading. What are the techniques that you can use to improve your rea
What are the predictions of balanced growth? When government can co-ordinate immediate investment in several industries one firm gives a market for another. It needs state pla
QUESTION (a) Analyze the characteristics of a monopoly market. (b) Distinguish between the short and long run equilibrium of a monopoly. (c) Compare and contrast between
1500 word essay
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
#what questDynamic Multiplier, Economicsion..
Question 1 ‘The consumer is always king in the market place'. Critically examine this statement, highlighting the existence of market imperfections. Question 2 (a) Dis
Suppose that a particular large hotel has 790 rooms. Furthermore, suppose that the hotel's marketing group's forecast is normally distributed with a mean demand of 730 rooms and a
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