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1. Is there a dominant strategy equilibrium in this problem? 2. If there is a dominant strategy equilibrium, what is it? 3. Is there a Nash equilibrium in this problem?
If consumer incomes increase to $30,000, what will be the impact on equilibrium price and quantity?
Problem: Describe the situation at a price of $10. What will occur? Describe the situation at a price of $2. What will occur? Equilibrium occurs when quantity demanded equals quantity sup
What implications will the elimination of the quota on rubber have on China's social welfare?
A. If there were MANY sellers of diamonds, what would equilibrium price and quantity? Why? B. If there were only one seller, what would be the equilibrium price and quantity? Why?
A representative firm with long-run total cost given by TC = 20 + 20q + 5q2 operates in a competitive industry where the short-run market demand and supply curves are given by QD = 1,602 - 40P and Q
Explain how demand, elasticity, and total revenue are all related to each other. Explain this relationship using at least two examples that incorporates all three concepts.
Is there a dominant strategy equilibrium in this problem? If so, what is it? Is there a Nash equilibrium in this problem? If so, what is it?
Using the above data, graph the demand for fishes and the supply fishes. Be sure to label the axes of your graph correctly. Label equilibrium price "P" and the equilibrium quantity"Q'". Also, find a
1) What was the equilibrium price of a box? Is this the long-run equilibrium price? 2) How many firms are in this industry when it is in long-run equilibrium?
Develop a graph for the new demand and supply curves. Then use the graph to find the new equilibrium price and quantity.
a.) Find the Cournot equilibrium outputs for each firm. b.) Find the industry price that is associated with these output levels.
Q1. Does either firm have a dominant strategy, and if so, what is it? Q2. What is the Nash equilibrium of this game?
The demand curve intersects the vertical axis at +10 and the supply curve intersects the vertical axis at 0. Write down the equation of both of these lines in the form q = a+bp. What are the equilib
Suppose the two rival office supply companies Office Depot and Staples both adopt price matching policies. If consumers can find lower advertised prices on any items they sell, then Office Depot and
What are the three tools the Federal Reserve uses to change the money supply and interest rates in the economy? Which of these tools is most important and why?
Calculate the monopoly profit-maximizing price-output combination, and the competitive market long-run equilibrium activity level.
What price-output combination would exist with profit regulation (zero economic profits)?
Graph the demand and the supply. Label the axis and the equilibrium. The equilibrium price and quantity are, respectively? Looking on how to graph this.
Discuss perfect competition and long-run equilibrium. Provide detailed descriptions, definitions and concrete examples of your findings. Additionally, how does the proliferation of global trade and
The supply and demand equations for a hypothetical perfectly competitive market are given by QS = -100 + 3P and QD = 500 - 2P. 1) Determine the firm’s optimal (i.e. profit maximizing level
Please assist me by explaining the concepts of the Market Equilibrating Process and how it relates to prior real world experience.
1. Calculate the firm's optimal output and profits if prices are stable at $20 per case. 2. Calculate optimal output and profits if prices rise to $25 per case.
Question 1) Are monopolists guaranteed of making economic profits? Question 2) Explain the long run equilibrium situation for a monopolistically competitive industry. Give two examples of industries
a. Why might such a positive relationship make sense intuitively? b. How would you characterize equilibria in this settings?