Dollars per unit a m e U 9 W Exhibit 0129 d y X monopoly b MC 1 Ik N in perfect competition monopolistic competition oligopoly ATC AVC MR The firm represented in FIG 0129 is q/t
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- Two firms in Couruo t Competition. Marginal praduce cost for both =0 döffrenciated pnoducts Firms have the following inverse demand function Pi=1-4 p2=1-92- वे Cournd reacthon functiou and m dicaramcebedhy. and a Derive the represend them తంయిమ ు 6)Derive the and pofits. Carmot eaubbrum gautitien.ArkerFrom the bank of terms match the letter that corresponds to the appropriate concept/description. Bank of terms Letter A Perfect Bayesian Nash equilibrium Bayesian Nash equilibrium Nash equilibrium Competition à la Cournot Competition à la Bertrand В C E Herfindahl index F Perfect competition G Consumer urplus Lerner index H I Principal-agent model Natural monopoly Strategic complements Conjectural variations approach Strategic substitutes J K L M N Concept/description Competition in quantities Price taking behavior Index of maket power Write letter Measure of welfare Solution for a static game with incomplete information Competition in prices Measure of intensity of competition Manager and business owner work relationship Best response functions that slope upwards Estimation of market powerWhat is exclusive dealing? How might it reduce competition and when might it be acceptable?
- How is the perceived demand curve for a monopolistically competitive film different from the perceived demand curve for a monopoly or a perfectly competitive film?Ajax Cleaning Products is a medium-sized firm operating in an industry dominated by one large firm—Tile King. Ajax produces a multiheaded tunnel wall scrubber that is similar to a model produced by Tile King. Ajax decides to charge the same price as Tile King to avoid the possibility of a price war. The pnce charged by Tile King is $20,000. Ajax has the following short-run cost curve: TC=800,0005,000Q+100Q2 Compute the marginal cost curve for Ajax. Given Ajaxs pricing strategy, what is the marginal venue function for Ajax? Compute the profit-maximizing level of output for Ajax. Compute Ajaxs total dollar profits.Is it true that the four-firm concentration ratio puts more emphasis on one or two very large films, while the Herfindahl-Hirshmau Index puts more emphasis on all the films in the entire market? Explain briefly.
- What is deregulation? Name some industries that have been deregulated in the United States.Is a monopolistically competitive firm productively efficient? Is it allocatively efficient? Why or why not?The graph below represents sales per week of ABC Inc. Ltd, a monopoly multinationalenterprise that supplies Hi-tech components. Use the graph to answer the questionsthat follow.i. State the elasticity of the monopoly firm demand curve. ii. Considering the figure, examine the benefits of the characteristics of themonopoly demand curve to ABC Inc. Ltd.iii. Suppose the demand and cost curves result in ABC Inc. Ltd earning aneconomic profit. Do you think ABC Inc. Ltd firm will earn profit in the long run? Explain your answer. Assume all factors constant.iv. Examine the effects of ABC Inc. Ltd on consumers.
- For each of the following pairs of firms, explainwhich firm would be more likely to engage inadvertising.a. a family-owned farm or a family-ownedrestaurantb. a manufacturer of forklifts or a manufacturer of carsc. a company that invented a very comfortable razoror a company that invented a less comfortable razorNext Question Consider the network scheduling profit matrix Can the Pareto Critenon hep me networks sette on a single equibrum? Explain The Pareto Criterion Ne O A cannot help the networks sette on a singlo equibrum because the Wednesday Thursday networks cannot communicate OB. can help the networks settle on a single equibrum because the networks have dominant strateges Wednesday OC. cannot help the networks settie on a singie equilbnum because no Nash equilibria is better for both networks 40 Nebok 2 O D. can help the networks settle on a single equibrium because one Nash equilibrium has the highest joint payoffs O E. cannot help the networks settle on a single equilbrum because the networks must schedule simultaneously ThursdeyThe graph below represents sales per week of ABC Inc. Ltd, a monopoly multinational enterprise that supplies Hi-tech components. Use the graph to answer the questions that follow. "image" i. State the elasticity of the monopoly firm demand curve. ii. Considering the figure, examine the benefits of the characteristics of themonopoly demand curve to ABC Inc. Ltd. iii. Suppose the demand and cost curves result in ABC Inc. Ltd earning aneconomic profit. Do you think ABC Inc. Ltd firm will earn profit in the longrun? Explain your answer. Assume all factors constant. iv. Examine the effects of ABC Inc. Ltd on consumers.