Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 08, 2024

The (inverse) market demand function in a homogeneous product Cournot duopoly is as follows: P = 500 - 5(Q1+ Q2).The total cost functions are TC

The (inverse) market demand function in a homogeneous product Cournot duopoly is as follows: P = 500 - 5(Q1+ Q2).The total cost functions are TC = 200 + 50Q1for firm one and TC = 200 + 60Q2for firm two.What is the reaction function for firm one?

Group of answer choices

Q1 = 30 - 0.25Q2

Q1 = 60 - 0.5Q2

Q1 = 45 - 0.5Q2

Q1 = 50 - 0.5Q2

Q1 = 15 - 0.75Q2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

Econometric Evaluation Of Socio-Economic Programs Theory And Applications

Authors: Giovanni Cerulli

1st Edition

3662464055, 9783662464052

More Books

Students also viewed these Economics questions

Question

★★★★★

Table 11.3.15 compares short-term bond funds, showing the average maturity (in years until the funds bonds mature) and the rate of return as a percentage. a. Find the correlation between maturity and...

Answered: 1 week ago

Question

★★★★★

Gerald Adams worked as a cook for Uno Restaurants, Inc., at Warwick Pizzeria Uno Restaurant & Bar in Warwick, Rhode Island. One night, shortly after Adamss shift began, he noticed that the kitchen...

Answered: 1 week ago

Question

★★★★★

What are general characteristics of the Middle Ages and the Roman Period.

Answered: 1 week ago

Question

★★★★★

Tim Madsen is the purchasing agent for Computer Center, a large discount computer store. He has recently added the hottest new computer, the Power model, to the stores stock of goods. Sales of this...

Answered: 1 week ago

Question

★★★★★

Question 13 (1 point) An inflationary gap can best be described as the amount by which: equilibrium output exceeds potential output withdrawals exceed injections at the level of potential output...

Answered: 1 week ago

Question

★★★★★

52. Logan B. Taylor is a widower whose wife, Sara, died on June 6, 2018. He lives at 4680 Dogwood Lane, Springfield, MO 65801. He is employed as a paralegal by a local law firm. During 2020, he had...

Answered: 1 week ago

Question

★★★★★

King Builders gets a CIP for a $200 million construction program involving work in 12 states. Construction is expected to last two years. Which of the following suggests that the construction program...

Answered: 1 week ago

Question

★★★★★

When controlling priorities in production scheduling, economies of scope depend on decreasing which of the following costs or times? Group of answer choices Average cost per unit made Average cost to...

Answered: 1 week ago

Question

★★★★★

question 1) Scenario : A program manager (PM) is interviewing you for the lead systems engineer position for a new program that is about to be started in the program office. The PM wants to know how...

Answered: 1 week ago

Question

★★★★★

PROBLEM #3 Susan White has her own business as a performer at children's birthday parties. She can dress up and perform as a clown, or she can perform as a magician. Kids love her. Her business is...

Answered: 1 week ago

Question

★★★★★

Aaliyah is busy handling her own work and some work of a colleague who recently resigned. Still, Aaliyah's boss assigns her three new projects and also asks that she leads a department presentation....

Answered: 1 week ago

Question

★★★★★

5.22 It is known that amounts of money spent on clothing in a year by students on a particular campus follow a normal distribution with a mean of $380 and a standard deviation of $50. a. What is the...

Answered: 1 week ago

Question

★★★★★

5.21 Let the random variable X follow a normal distribution with m = 0.2 and s2 = 0.0025. a. Find the probability that X is greater than 0.4. b. Find the probability that X is greater than 0.15 and...

Answered: 1 week ago

Question

★★★★★

5.19 Let the random variable X follow a normal distribution with m = 50 and s2 = 64. a. Find the probability that X is greater than 60. b. Find the probability that X is greater than 35 and less than...

Answered: 1 week ago

Previous Question Next Question