Why is the Cournot equilibrium price less than the monopoly price? Why is the Cournot equilibrium price
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (12 reviews)
The Cournot equilibrium price is less than the mono...View the full answer
Answered By
Muhammad Salman Alvi
Well, I am a student of Electrical Engineeing from Information Technology University of Punjab. Just getting into my final year. I have always been good at doing Mathematics, Physics, hardware and technical subjects. Teaching profession requires a alot of responsibilities and challenges.
My teaching experience started as an home tutor a year ago. When I started teaching mathematics and physic subjects to an O Level student. He was about 14 years old. His name was Ibrahim and I used to teach him for about 2 hours daily. Teaching him required a lot of patience but I had to be polite with him. I used to give him a 5 min break after 1 hour session. He was quite weak in basic maths and calculation. He used to do quite a lot of mistakes in his homework which I gave him weekly. So I decided to teach him basics from scratch. He used to say that he got the concept even if he didn't. So I had to ask him again and again. I worked on his basics for a month and after that I started taking a weekly test sesions. After few months he started to improve gradually. Now after teaching him for about a year I can proudly say that he has improved alot. The most important thing was he managed to communicate all the difficullties he was facing. He was quite capable and patient. I had a sincere desire to help him reach to its full potential. So I managed to do that. We had a very good honest relationship of a student and a teacher. I loved teaching him as a tutor. Now having an experience of one year teaching I can read students quite well. I look forward to work as an online tutor who could help students in solving their all sort of difficulties, problems and queries.
4.90+
29+ Reviews
43+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
In the following, let the market demand curve be P = 70 - 2Q, and assume all sellers can produce at a constant marginal cost of c = 10, with zero fixed costs. a) If the market is perfectly...
-
Why is the Cournot equilibrium stable? (i.e., Why dont firms have any incentive to change their output levels once in equilibrium?) Even if they cant collude, why dont firms set their outputs at the...
-
Two organic emu ranchers, Bill and Ted, serve a small metropolitan market. Bill and Ted are Cournot competitors, making a conscious decision each year regarding how many emus to breed. The price they...
-
What are the uses of performance appraisal?
-
(a) What is the level of Jims short-term, one-year disability insurance needs? (b) What is the level of Jims long-term disability insurance needs? (c) Help Jim select from among the important...
-
Find the first and second derivatives of the function. G(r) = r + 3 r
-
Know the difference between rational, bounded rational, and intuitive decisions.
-
Five years ago, the Mori Foods Company acquired a bean processing machine. The machine cost $30,000 and is being depreciated using the straight-line method over a 10-year period to an estimated...
-
Suppose in its income statement for the year ended June 30, 2017. The Clorox Company reported the following condensed data (dollars in millions). Salaries and wages expenses $ 440 $110 Depreciation...
-
Penang Electronics (PE) is a contract manufacturer that produces and packages private label products for various retail chains, including Target, Best Buy, Staples, and Office Max. In each case, the...
-
What is a reaction function? Why does the Cournot equilibrium occur at the point at which the reaction functions intersect?
-
Explain the difference between the Bertrand model of oligopoly and the Cournot model of oligopoly. In a homogeneous products oligopoly, what predictions do these models make about the equilibrium...
-
Brian started in business on 1 January 2009. The following is a list of his transactions for his first month of trading: 1.1.09 2.1.09 3.1.09 4.1.09 5.1.09 10.1.09 15.1.09 20.1.09 22.1.09 Opened a...
-
Winston Electronics reported the following information at its annual meetings. The company had cash and marketable securities worth $1,235,740, accounts payables worth $4,160,391, inventory of...
-
Hooray Company has been manufacturing 12,000 units of Part A which is used to manufacture one of its products. At this level of production, the cost per unit is as follows: Direct materials P 4.80...
-
At the beginning of the period, the Grinding Department budgeted direct labor of $171,200 and property tax of $57,000 for 10,700 hours of production. The department actually completed 12,800 hours of...
-
The following information is available for Shamrock Corporation for the year ended December 31, 2025. Beginning cash balance $ 58,500 Accounts payable decrease 4,810 Depreciation expense 210,600...
-
In today's stock market, compounding is the key to making money in the future for one's investments. However, with decentralized currency growing rapidly (Crypto), how can one rely on TVM for FV...
-
Which cloud computing model offers the most control of your environment? A. PaaS B. SaaS C. IaaS D. DBaaS
-
The comparative statements of financial position of Menachem NV at the beginning and end of the year 2019 appear below. Net income of ¬34,000 was reported, and dividends of ¬23,000 were paid...
-
How does the theory of market power explain the occurrence of FDI? q-1
-
Two firms face the following profit matrix: Given these profits, Firm 2 wants to match Firm 1s price, but Firm 1 does not want to match Firm 2s price. Does either firm have a dominant strategy? Does...
-
Takashi Hashiyama, president of the Japanese electronics firm Maspro Denkoh Corporation, was torn between having Christies or Sothebys auction the companys $ 20 million art collection, which included...
-
Takashi Hashiyama, president of the Japanese electronics firm Maspro Denkoh Corporation, was torn between having Christies or Sothebys auction the companys $ 20 million art collection, which included...
-
Deacon Company is a merchandising company that is preparing a budget for the three - month period ended June 3 0 th . The following information is available Deacon Company Balance Sheet March 3 1...
-
Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated total overhead costs to be $460,000, and direct labor costs to be $230,000. Actual overhead...
-
Which of the following do we expect to be the horizon growth rate for a company (long term growth rate- say 30-50 years)? A) Inflation B) Industry Average C) Zero D) Market Beta
Study smarter with the SolutionInn App