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2. Let the demand and cost functions for two firms are given as a) Find the quasi-competitive sol...
Suppose two firms (Firm 1 and Firm 2) are producing a product. The total demand is:...
Suppose two firms (Firm 1 and Firm 2) are producing a product. The total demand is: Q = 110 –10P, where Q = Q1 + Q2. Each of the two firms has the cost function TC = 5Q. Based on the information given, calculate the equilibrium P, Q, Q1, Q2, Profit1 and Profit2 under monopoly (collusion), Cournot, and Stackelberg. For the Stackelberg model, assume that Firm 1 is the leader and Firm 2 is the follower. Show all your workings...
Two firms are participating in a Stackelberg duopoly. The demand function in the market is given...
Two firms are participating in a Stackelberg duopoly. The demand function in the market is given by Q = 2000 − 2P. Firm 1’s total cost is given by C1(q1) = (q1) 2 and Firm 2’s total cost is given by C2(q2) = 100q2. Firm 1 is the leader and Firm 2 is the follower. (1) Write down the inverse demand function and the maximization problem for Firm 1 given that Firm 2 is expected to produce R2(q1). (2) Compute...
Q.2 Two firms produce homogeneous products. The inverse demand function is: p(x1,x2)-a-x1- x2, where x is...
Q.2 Two firms produce homogeneous products. The inverse demand function is: p(x1,x2)-a-x1- x2, where x is the quantity chosen by firm 1, x2 the quantity chosen by firm 2, and a > 0. The cost functions are C1 (x1)-x follower. and C2(x2)- . Firm I is a Stackelberg leader and firm 2 a Stackelberg Q.2.a Find the subgame-perfect quantities. Q.2.b Calculate each firm's equilibrium profit.
Oligopoly The inverse demand curve for brimstone is given by p(Y) 116-3Y (with Y total quantity...
Oligopoly The inverse demand curve for brimstone is given by p(Y) 116-3Y (with Y total quantity of brimstone, measured in the conventional units) and the cost function for any firm in the industry is given by TC(y)-8y (with y the output of the firm) a. Determine the industry output and price if the brimstone industry were perfectly competitive Suppose that two Cournot firms operated in the market (Firm 1 and Firm 2) Determine the reaction function of Firm 1. Do...
ECON M/C An industry has two firms. The demand curve for the industry's output is given...
ECON M/C
An industry has two firms. The demand curve for the industry's output is given by p = 370 – 24, where q is the total industry output. Each firm has a constant marginal cost equal to 10. Suppose that one firm is the Stackelberg leader and the other firm is the Stackelberg follower. The leader will choose quantity Select one: a. 80 b. 120 O C. 150 O d. 90 O e. None of the above.
1. Consider a market with inverse demand P(Q) = 100 Q and two firms with cost...
1. Consider a market with inverse demand P(Q) = 100 Q and two firms with cost function C(q) = 20q. (A) Find the Stackelberg equilibrium outputs, price and total profits (with firm 1 as the leader). (B) Compare total profits, consumer surplus and social welfare under Stackelberg and Cournot (just say which is bigger). (C) Are the comparisons intuitively expected? 2. Consider the infinite repetition of the n-firm Bertrand game. Find the set of discount factors for which full collusion...
please explain all details. Market demand curve for a good produced only by two firms is...
please explain all details.
Market demand curve for a good produced only by two
firms is given by P= 70- 20. Both firms produce with constant and
identical marginal cost of 3. 10, that is MC, = MC, = 10.
(P,Q.4-42,) in Cournot equilibrium. a) Find b) Find (P,Q,q1,92,,,
2) in Stackelberg equilibrium with Firm 1 acting as the leader. c)
Compare your findings with monopoly and competitive equilibria.
Market demand curve for a good produced only by two firms...
Cournot vs. Stackelberg Oligopoly Suppose the inverse demand function and the cost functions for two duopolists...
Cournot vs. Stackelberg Oligopoly Suppose the inverse demand function and the cost functions for two duopolists are given by: P = 100 – (Q1 + Q2) C1(Q1) = 2Q1 C2(Q2) = 2Q2 a. Cournot: Assume two Cournot duopolists. i. What is firm 1’s Quantity and Profit? R1 = (100-Q1-Q2) * Q1 R1 = 100Q1 - Q12 - Q2Q1 MR1 = 100 - 2Q1 - Q2 C1(Q1) = 2Q1 MC1 = 2 MR1 = MC1 ii. What is firm 2’s Quantity...
2*. Consider a market with two firms where the inverse demand function is given by p...
2*. Consider a market with two firms where the inverse demand function is given by p = 28 - 2q and where q = q1 + q2. Each firm has the total cost function c(qi) = 4qi, where i = {1,2}. a) Compare price level, quantities and profits in this market calculating the Cournot equilibrium and the Stackelberg equilibrium. Draw a graph with best response functions and illustrate the Cournot and Stackelberg solutions in that graph. b) Compare your solutions...
2*. Consider a market with two firms where the inverse demand function is given by p...
2*. Consider a market with two firms where the inverse demand function is given by p = 28 - 2q and where q = q1 + q2. Each firm has the total cost function c(qi) = 4qi, where i = {1,2}. a) Compare price level, quantities and profits in this market calculating the Cournot equilibrium and the Stackelberg equilibrium. Draw a graph with best response functions and illustrate the Cournot and Stackelberg solutions in that graph. b) Compare your solutions...
Q.2 Two firms produce homogeneous products. The inverse demand function is: p(x1,x2)-a-x1- x2, where x is the quantity chosen by firm 1, x2 the quantity chosen by firm 2, and a > 0. The cost functions are C1 (x1)-x follower. and C2(x2)- . Firm I is a Stackelberg leader and firm 2 a Stackelberg Q.2.a Find the subgame-perfect quantities. Q.2.b Calculate each firm's equilibrium profit.
Oligopoly The inverse demand curve for brimstone is given by p(Y) 116-3Y (with Y total quantity of brimstone, measured in the conventional units) and the cost function for any firm in the industry is given by TC(y)-8y (with y the output of the firm) a. Determine the industry output and price if the brimstone industry were perfectly competitive Suppose that two Cournot firms operated in the market (Firm 1 and Firm 2) Determine the reaction function of Firm 1. Do...
ECON M/C
An industry has two firms. The demand curve for the industry's output is given by p = 370 – 24, where q is the total industry output. Each firm has a constant marginal cost equal to 10. Suppose that one firm is the Stackelberg leader and the other firm is the Stackelberg follower. The leader will choose quantity Select one: a. 80 b. 120 O C. 150 O d. 90 O e. None of the above.
please explain all details.
Market demand curve for a good produced only by two
firms is given by P= 70- 20. Both firms produce with constant and
identical marginal cost of 3. 10, that is MC, = MC, = 10.
(P,Q.4-42,) in Cournot equilibrium. a) Find b) Find (P,Q,q1,92,,,
2) in Stackelberg equilibrium with Firm 1 acting as the leader. c)
Compare your findings with monopoly and competitive equilibria.
Market demand curve for a good produced only by two firms...
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