The Nash equilibrium in an oligopolistic market is generally ________ for society than the outcome under...
The Nash equilibrium in an oligopolistic market is generally ________ for society than the outcome under collusion because the price is ________ marginal cost.
A. better; closer to
B. worse; equal to
C. better; further above
D. worse; closer to
E. worse; further above
Homework Answers
The Nash equilibrium in an oligopolistic market is generally better for society than the outcome under collusion because the price is closer to marginal cost.
Answer: option (a).
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The Nash equilibrium in an oligopolistic market is generally
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Answer these with thorough explanations, please! 5. Monopoly outcome versus competition outcome Consider the daily market...
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Can someone help with the problem below?
Suppose two oligopolistic firms face a market (inverse) demand curve P(Y + Y2) = 20 - (Y1 + Y). Both firms produce at constant marginal cost, but they are not symmetric: firm 1 has marginal cost 2 and firm 2 has marginal cost 4. For each of the following competitive situations below, compute: • The equilibrium price. • The equilibrium quantities produced by each firm. • The profits received by each firm. (a)...
My question is In Nash Equilibrium, does x-12 have to be
greater than 13, or it can be equal?
Player 11 C D -2,-2 X-12,0 3,18 13,13 Player A B In the game above, the minimum value of X such that (A,D) is a Nash Equilibrium is [x]. Please, provide a numerical answer i.e., write 2 instead of two). 25
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5. Monopoly outcome versus competition outcome Consider the daily market for hot dogs in a small city. Suppose that this market is in long-run competitive equilibrium with many hot dog stands in the city, each one selling the same kind of hot dogs. Therefore, each vendor is a price taker and possesses no market power. The following graph shows the demand (D) and supply (S = MC) curves in the market for hot dogs. Place the black point (plus symbol) on the graph...
Answer these with thorough explanations, please!
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