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2) Answer the next question based on the following payoff matrix for a duopoly in which...
Question 19 10 pts 19. Answer the next question based on the payoff matrix for a...
Question 19 10 pts 19. Answer the next question based on the payoff matrix for a two-firm oligopoly where the numbers represent the firms' respective sales given each of their pricing strategies: FIRM X Strategies: High-price Low Price High-price X = $625,000 X = $725,000 Y= $625,000 Y = $275,000 Low-price X = $275,000 X = $400,000 Y = $725,000 Y= $400.000 FIRMY If both firms were doing a high-price strategy and then one firm cuts prices but the other...
Question 43 10 pts (10 marks: 1 mark each) Use the following payoff matrix for a...
Question 43 10 pts (10 marks: 1 mark each) Use the following payoff matrix for a 2-firm oligopoly to answer the questions below Firm A: High Price Low Price A-1000 A-1250 High Price B = 1000 B = 300 Firm B: A-300 A = 700; Low Price B-1250 B-700 a. If the two firms above collude, the profits for each of the 2 firms would be: Firm A Profits Firm B Profits a. If the two firms above collude, the...
Consider the following payoff matrix in which the numbers indicate the profit in millions of dollars...
Consider the following payoff matrix in which the numbers
indicate the profit in millions of dollars for an oligopoly based
on either a high-price or a low-price strategy.
a. Situation
1: Each firm chooses a high-price
strategy.
Result: Each firm
will earn $ 200 million in profit for a total of $ 400 million for
the two firms.
b. Situation 2: Firm X chooses a
low-price strategy while Firm Y maintains a high-price
strategy.
Result: Firm X will earn $250...
(10 marks: 1 mark each) Use the following payoff matrix for a 2-firm oligopoly to answer...
(10 marks: 1 mark each) Use the following payoff matrix for a 2-firm oligopoly to answer the questions below Firm A: High Price Low Price A = 1000: A = 1250; High Price B = 1000 B = 300 Firm B: A = 300; A = 700; Low Price B = 1250 B = 700 a. If the two firms above collude, the profits for each of the 2 firms would be: Firm A Profits Firm B Profits b. Suppose...
mpts: Text Question 1.4 Question Help O Two firms face the following payoff matrix shown to...
mpts: Text Question 1.4 Question Help O Two firms face the following payoff matrix shown to the right Given these profits, Firm 1 does not want to match Firm Z's price? Question Question jestio jestior Low Price High Price Low Price Firma High Price course (Econ
Figure: Payoff Matrix Il for Blue Spring and Purple Rain High price Blue $50,000 Blue Spring...
Figure: Payoff Matrix Il for Blue Spring and Purple Rain High price Blue $50,000 Blue Spring Purple Rain High price Low price Purple Rain's Purple Rain's profit = profit = Blue $20,000 Spring's Spring's profit = profit = $20,000 -$2,000 Purple Rain's Purple Rain's profit = profit = $10,000 Blue Spring's Spring's profit profit $50,000 $10,000 Low Blue $2,000 price (Figure: Payoff Matrix Il for Blue Spring and Purple Rain) Use Figure: Payoff Matrix Il for Blue Spring and Purple...
Question 5 Demand in a market dominated by two firms (a Cournot duopoly) is determined according...
Question 5 Demand in a market dominated by two firms (a Cournot duopoly) is determined according to: P = 200 – 2(Q1 + Q2), where P is the market price, Q1 is the quantity demanded by Firm 1, and Q2 is the quantity demanded by Firm 2. The marginal cost and average cost for each firm is constant; AC=MC = $60. The cournot-duopoly equilibrium profit for each firm is _____. Hint: Write your answer to two decimal places. QUESTION 6...
6. Using a payoff matrix to determine the equilibrium outcome Suppose there are only two firms...
6. Using a payoff matrix to determine the equilibrium outcome Suppose there are only two firms that sell Blu-ray players: Movietonia and Videotech. The following payoff matrix shows the profit (in millions of dollars) each company will earn, depending on whether it sets a high or low price for its players. Videotech Pricing High Low High 9,9 2, 15 Movietonia Pricing Low 15, 2 8,8 For example, the lower-left cell shows that Movietonia prices low and Videotech prices high, Movietonia...
6. Using a payoff matrix to determine the equilibrium outcome Suppose there are only two firms...
6. Using a payoff matrix to determine the equilibrium outcome Suppose there are only two firms that sell smartphones: Flashfone and Pictech. The following payoff matrix shows the profit (in millions of dollars) each company will earn, depending on whether it sets a high or low price for its phones. Pictech Pricing High High Low Flashfone Pricing Low , 15 8,8 11, 112 15,2 For example, the lower-left cell shows that if Flashfone prices low and Pictech prices high, Flashfone...
Suppose there are only two firms that sell smartphones: Flashfone and Pictech. The following payoff matrix...
Suppose there are only two firms that sell smartphones: Flashfone and Pictech. The following payoff matrix shows the profit (in millions of dollars) each company will earn, depending on whether it sets a high or low price for its phones. Pictech Pricing High Low Flashfone Pricing High 8, 8 4, 13 Low 13, 4 7, 7 For example, the lower-left cell shows that if Flashfone prices low and Pictech prices high, Flashfone will earn a profit of $13 million, and...
Question 19 10 pts 19. Answer the next question based on the payoff matrix for a two-firm oligopoly where the numbers represent the firms' respective sales given each of their pricing strategies: FIRM X Strategies: High-price Low Price High-price X = $625,000 X = $725,000 Y= $625,000 Y = $275,000 Low-price X = $275,000 X = $400,000 Y = $725,000 Y= $400.000 FIRMY If both firms were doing a high-price strategy and then one firm cuts prices but the other...
Question 43 10 pts (10 marks: 1 mark each) Use the following payoff matrix for a 2-firm oligopoly to answer the questions below Firm A: High Price Low Price A-1000 A-1250 High Price B = 1000 B = 300 Firm B: A-300 A = 700; Low Price B-1250 B-700 a. If the two firms above collude, the profits for each of the 2 firms would be: Firm A Profits Firm B Profits a. If the two firms above collude, the...
Consider the following payoff matrix in which the numbers
indicate the profit in millions of dollars for an oligopoly based
on either a high-price or a low-price strategy.
a. Situation
1: Each firm chooses a high-price
strategy.
Result: Each firm
will earn $ 200 million in profit for a total of $ 400 million for
the two firms.
b. Situation 2: Firm X chooses a
low-price strategy while Firm Y maintains a high-price
strategy.
Result: Firm X will earn $250...
(10 marks: 1 mark each) Use the following payoff matrix for a 2-firm oligopoly to answer the questions below Firm A: High Price Low Price A = 1000: A = 1250; High Price B = 1000 B = 300 Firm B: A = 300; A = 700; Low Price B = 1250 B = 700 a. If the two firms above collude, the profits for each of the 2 firms would be: Firm A Profits Firm B Profits b. Suppose...
mpts: Text Question 1.4 Question Help O Two firms face the following payoff matrix shown to the right Given these profits, Firm 1 does not want to match Firm Z's price? Question Question jestio jestior Low Price High Price Low Price Firma High Price course (Econ
Figure: Payoff Matrix Il for Blue Spring and Purple Rain High price Blue $50,000 Blue Spring Purple Rain High price Low price Purple Rain's Purple Rain's profit = profit = Blue $20,000 Spring's Spring's profit = profit = $20,000 -$2,000 Purple Rain's Purple Rain's profit = profit = $10,000 Blue Spring's Spring's profit profit $50,000 $10,000 Low Blue $2,000 price (Figure: Payoff Matrix Il for Blue Spring and Purple Rain) Use Figure: Payoff Matrix Il for Blue Spring and Purple...
6. Using a payoff matrix to determine the equilibrium outcome Suppose there are only two firms that sell Blu-ray players: Movietonia and Videotech. The following payoff matrix shows the profit (in millions of dollars) each company will earn, depending on whether it sets a high or low price for its players. Videotech Pricing High Low High 9,9 2, 15 Movietonia Pricing Low 15, 2 8,8 For example, the lower-left cell shows that Movietonia prices low and Videotech prices high, Movietonia...
6. Using a payoff matrix to determine the equilibrium outcome Suppose there are only two firms that sell smartphones: Flashfone and Pictech. The following payoff matrix shows the profit (in millions of dollars) each company will earn, depending on whether it sets a high or low price for its phones. Pictech Pricing High High Low Flashfone Pricing Low , 15 8,8 11, 112 15,2 For example, the lower-left cell shows that if Flashfone prices low and Pictech prices high, Flashfone...
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