4. Draw a line diagram to show reaction functions for two firms operat- ing in an...
5. Briefly describe the four types of business structures that can be used to organize agribusinesses and farms. List the similarities and differences of the structures. Notes on Exercise 1: The exercise is to be completed in Microsoft Word. Use "Insert, Shapes" to draw the line diagrams. You can use a table to answer question 4. 4. Draw a line diagram to show reaction functions for two firms operating in an oligopolistic market with products that differ mostly due to...
Exercise 5: Two oligopolistic firms compete in the same market as in Exercise 1 where the demand function is 4800 80p. The two firms can expand their output at a constant marginal and average cost of 305 (1) Fill the second column of table 1 with the values for the market price corresponding to each value of the overall quantity produced in the market. (2) Draw in diagram 1 the marginal cost, the market demand and the marginal revenue at...
1.Consider an industry with only two firms that produce identical products. Each of the firms only incurs a fixed cost of $1000 to produce and marginal cost is 20. The market demand function is as follows: Q=q1+q2=400-P a. Assuming that the firms form a cartel, calculate the profit-maximizing quantity of output, price and profits b. If the firms choose to behave as in the Cournot model, what would be the profit- maximizing quantities of output, price and profits? c. if...
Draw a reaction coordinate diagram for a reaction where Keq < 1. Add a second line (on the same diagram) to show how the diagram would look different for a catalyzed reaction. Upload your diagrams in the space provided in the next question. How does adding a catalyst affect the equilibrium? Explain how this is shown by your diagram.
Draw a budget line /indifference curve diagram for two goods: water and electricity. Show the income and substitution effects of the increase in the price of electricity. Assume that electricity is a normal good. 3 4 8 5 6 7
Problem 1 1. 2. 3. Use singularity functions to find the reaction forces. Draw shear diagram of the beam. Draw moment diagram of the beam Im2 Ri TR Note: the beam is horizontal!
2. Scotch is made by two firms: Glenmorangie and Macallan. The individual supply functions for Glenmorangie and Macallan are as follows: Glemnorangie: q 2P- 4 Macallan Derive the industry supply function for Scotch (Q). Show the supply curve in a diagram with P on the vertical axis and Q on the horizontal axis.
2. Scotch is made by two firms: Glenmorangie and Macallan. The individual supply functions for Glenmorangie and Macallan are as follows: Glemnorangie:2P - 4 Macallan P -3 Derive the industry supply function for Scotch (Q). Show the supply curve in a diagram with P on the vertical axis and Q on the horizontal axis.
5. (30 points) Consider a Hotelling line city model, where two firms are located at the two extreme points. The length of the city is 1, and the consumers are evenly distributed over the line. Transportation cost per unit is t. The utility of the good for each consumper is 2 and each consumer only consumes one unit of good. Consumer's utility is zero without purchase. Suppose price charged by fir i 1; 2) is pi a). (10 points) Determine...
Problem three Two firms in a homogencous-product duopoly market (firm 1 and firm 2) have the following cost and demand functions: TC 4 TC24q2 and Q-40-P: Q-+2 a Derive the reaction function/best-response function for each firm. b) Assume that the firms play a simultaneous move game. Characterize the Nash Equilibrium. cSuppose the two firms play game is a sequential game with the following timing of events: 1. Firm 1 chooses output 2. Firm 2 observes firm 1's output and then...