FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Let demand be P=1000-3(q 1 +q 2 ). Fixed costs are 50. The marginal cost of firm 1 is 10 and the marginal cost of

Let demand be P=1000-3(q1+q2). Fixed costs are 50. The marginal cost of firm 1 is 10 and the marginal cost of firm 2 is 30. Find the optimal output, price, and profits for each firm with firm 1 a von Stackelbergleader (10) points, OR the firms being simultaneous mover Nash-Cournot competitors (7 1/2) points.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Macroeconomics

Macroeconomics

Authors: Stephen D. Williamson

6th Edition

013447211X, 134472119, 978-0134472119

More Books

Students also viewed these Economics questions

Question

★★★★★
We maintain a 401(k) plan under which all full-time employees are eligible to participate at the beginning of each month immediately following their date of hire. We match employees contributions at...

Answered: 1 week ago

Question

★★★★★
Develop strategies to manage stress and increase joy in work

Answered: 1 week ago

Question

★★★★★
d. Is it part of a concentration, minor, or major program?

Answered: 1 week ago

Question

★★★★★
ROBCOR, Inc., whose sample data are contained in the database named Ch13_P4.mdb, provides "on demand" aviation charters using a mix of different aircraft and aircraft types. Because ROBCOR has grown...

Answered: 1 week ago

Question

★★★★★
Cardio World incorporated (CWI) is a sporting goods retailer that specializes in bicycles, running shoes, and related clothing. The firm has become successful by careful attention to trends in...

Answered: 1 week ago

Question

★★★★★
You bought a zero-coupon bond at a 6% semi-annual discount. What is the bonds accretion (in dollars) in the first year? Assume a ten-year horizon.

Answered: 1 week ago

Question

★★★★★
Which sentence best explains a paragraph? a A collection of sentences that discuss several ideas. b A collection of ideas in many sentences to explain a topic. c A paragraph is a collection of...

Answered: 1 week ago

Question

★★★★★
please help Two charged objects are located at the vertices of a right-angle triangle as shown. O A = - 5.0 PC 20 cm X

Answered: 1 week ago

Question

★★★★★
Why are the liabilities and shareholders equity accounts represented as negative on the consolidated balance sheet? LO 2-7 Prepare a worksheet to consolidate the accounts of two companies that form...

Answered: 1 week ago

Question

★★★★★
Country X has the following amounts in its balance of payment accounts: Current Account Capital Account Financial Account $500,000 $100,000 $500,000 If Country X residents buy $700,000 of goods and...

Answered: 1 week ago

Question

★★★★★
James was operating his cabin cruiser with his family a kilometer off the coast when he needed to go below to prepare a meal. He left his twelve-year-old son to drive the boat. While James was below...

Answered: 1 week ago

Question

★★★★★
6. Three friends have houses, which each values differently, as shown in the table below: Blue house | Yellow house | Green house Sven's value 100 80 70 Olaf's value ' 50 90 Hans's value 80 70 The...

Answered: 1 week ago

Question

★★★★★
11. Based on the following rules regarding the confidence we have in information in a communication context, find examples from your everyday life where the rules have relevance: (a) The spatial rule...

Answered: 1 week ago

Question

★★★★★
2. Describe a situation from your own everyday life where it is clear that the situation in its consequence becomes the way you define it.

Answered: 1 week ago

Question

★★★★★
5. What do we mean when we say that social facts are mental constructions? Explain this with an example from your own everyday life.

Answered: 1 week ago

Previous Question Next Question