A duopoly faces an inverse market demand of P(Q) = 150−Q. Firm 1 has a constant marginal cost of MC1 (q1) = ​$30. Firm​ 2's constant marginal cost is MC2 (q2) =​ $60. Assume fixed costs are negligible for both firms. Calculate the output of each​ firm, market​ output, and price if there is​ (A) a collusive equilibrium or​ (B) a Cournot equilibrium.   ​(A) Collusive equilibrium ​(Enter your responses rounded to two decimal​ places)   The collusive equilibrium occurs where q1  equals ? and q2 equals ?   Market output is ?   The collusive equilibrium price is ?     ​(B) Cournot equilibrium ​(Enter your responses using rounded to two decimal​ places)   The​ Nash-Cournot equilibrium occurs where q1 equals ? and q2  equals ?   Market output is ?   The equilibrium occurs at a price of ?

Q: How does the value of production relate to expenditure and income? The value of production ____. A.…

A: Value of production is the total amount of Expenditure incurred in relation to goods produced.…

Q: Demand Schedule Supply Schedule P Q P Q 10 30 10 80 9 35 9 74 8 40 8 68 7 45 7 62 6 50 6 56 5 55 5…

A: The demand schedule is the tabular representation of the combination of price and quantity demanded…

Q: Explain the term capital market and provide examples of this

A: Financial markets, which include the bond market, stock market, currency market, and derivatives…

Q: Charles Lackey operates a bakery in Idaho​ Falls, Idaho. Because of its excellent product and…

A: The current output/month= 1800 The current labor input/month= 8×640$=5120$ The current capital…

Q: 60 76Juanita makes $42 an hour at work. She has to take time off work to purchase her skirt, so each…

A: Opportunity cost : Opportunity cost refers to the value of the next-highest-valued alternative use…

Q: Which of the following statements is correct? A. The manager's objectives are to increase profits…

A: Marginal cost is the additional cost incurred in order to produce an additional unit of output…

Q: Question 1 The Consumer Price Index (CPI) is designed to reflect Oonly prices faced by consumers in…

A: Hi! Thank you for the question. As per the honor code, We’ll answer the first question since the…

Q: Describe three different kinds of economic systems.

A: Different kinds of economic systems include;    1. A command economy    2. A market economy   3. A…

Q: People will consistently sit through terrible movies at the theater instead of leaving early. This…

A: Sunk cost is the cost which cannot be recovered as ticket cost of the movie  in the case. Because if…

Q: In the market for lattes, if the number of coffee shops increases, how does the quantity of lattes…

A: law of demand refers to the inverse relationship between price and quantity demanded keeping all…

Q: Consumer A has a utility function u(x,y) = min{0.5x, 2y) and an income of $250. the price of x is…

A: Consumer utility function shows the relationship between consumption of goods and utility. In case…

Q: The demand for ice cream is given by Qd-20-2P, the supply of ice cream is given by Qs=4P-10. Q is…

A: We have given the demand and supply equation  Qd=20-2P            ....... (1) Qs=4P-10…

Q: Soft-drink firms produce both cola and flavored water. Which of the following events increases the…

A: Given data Increase in supply An increase in supply is defined as an increase in supply at the same…

Q: If incomes increase and the number of producers of batteries decreases, how will the equilibrium…

A: Please find the answer below.   EQUILIBRIUM PRICE: An equilibrium price, also known as a…

Q: The expected return on Stock X is 9.5%, the standard deviation of expected returns is 30%, and the…

A: There are two sorts of stocks: ordinary and preferred. The distinction is that whereas the owner of…

Q: City Bank  charges 1 1/2% interest per month, compounded continuously on the unpaid balance…

A: An effective rate of interest rate is the return from an account or any premium-paying venture when…

Q: Should the rich be taxed more or not? Discuss this concept giving concrete examples of both pros and…

A: The rich should pay a higher portion of taxes because their income exceeds ten times that of the…

Q: Give four (4) economic activities that generate both positive and negative externalities

A: An externality is a positive or negative side effect of production or consumption in economics. It…

Q: Suppose Miriam sets a single price but also charges Shane an entry fee before he can buy any donuts…

A: The equilibrium point in the market represents the maximization of producer and consumer surplus. In…

Q: A new technology lowers the cost of producing a movie. Does this event change the quantity of movies…

A: Non-price factors cause a change in supply whereas quantity supplied is affected by changes in…

Q: In the island nation of Autarka, cardboard boxes are manufactured by four rms: Andrew's Industries,…

A: Four firms in a market: Andrew's Industries, Brett's Boxes, Carla's Cardboard, and Delia's Durables…

Q: e oligopoly in your own words and elaborate on the characteristics of oligopoly? .

A: OLIGOPOLY: The term oligopoly market refers to the situation under which there is a small number of…

Q: Economics Write a brief summary on Demand, Supply, and Equilibrium in Markets for Goods and…

A: Economic planning is an asset portion instrument in view of a computational method for taking care…

Q: Rent reviews are conducted to ensure that the net income adds value to the commercial real estate…

A: A rent review is a provision in the lease of a commercial property that requires the amount of rent…

Q: Michael Wittry has been investing in his Roth IRA retirement account for 24 years. Five years ago,…

A: Here it is clear that there are two investments. To calculate the fraction of amount in respect to…

Q: 8 Asseme there are 2 countries peroducing apples and oranges. Each country has many workers. The…

A: The table shows the necessary hours needed to produce one unit of each good.   A B Apple 8 10…

Q: How does adjusted exponential smoothing differ fromexponential smoothing?

A: As the observation ages, exponential smoothing introduces weights that get smaller. In other words,…

Q: Graph and explain how the market for used cars is impacted by higher prices for resources used to…

A: When demand and supply circumstances are equal, the market is said to be in an equilibrium state,…

Q: A factory uses its resources to produce leather jackets and leather belts. If the price of a leather…

A: Complements in production are those goods which produced jointly from the same input. This…

Q: oligopoly

A: A market is defined as the total number of buyers and sellers in a certain area or region. The…

Q: Economics Economics of Women’s Health: Explain the substantial risks associated with being…

A: Deficient health insurance coverage inclusion is one of the biggest hindrance to medical services…

Q: 5) You want to have $2 million 40 years from now. How much must you deposit each year (starting at…

A: Each sum is communicated in the worth of the cash at that specific time, alluded to as future…

Q: France produces agricultural products and manufactured products, using both labour and capital. When…

A: International Trade: The term international trade refers to the trade spectrum in which a country is…

Q: Is it true the statement that if average production cost is increasing, a firm’s technology exhibits…

A: In a two factor production function, the scale of production refers to the quantity of labour and…

Q: Start in Equilibrium (be sure to label all relevant points) b. Change at least one of the ceteris…

A: A market is defined as the total number of buyers and sellers in a certain area or region. The…

Q: (a) Determine the pure Nash equilibria of G. (b) Rose A, B, Colin A, B is a mixed Nash equilibrium…

A: The matrix looks like: The payoff looks like - (Rose,Colin)

Q: Table 3-9 Summary of the Gains from Trade Without Trade Production and Consumption With Trade…

A: When the country only consumes what it produces, it is known as the close economy. When the country…

Q: Brainstorm common items that you think consumers pay too much for or that you think are overpriced…

A: Given data  Scarcity- When a commodity or service is scarce, there is a larger demand for it than…

Q: Consider an economy described by the following equations: Y=C + I +G Y=7,000 G=4000 T=2,000…

A: given data Y=7000 G=4000 T=2000 C=150+0.75(Y-T) I=1000-50r now G is rising by 1000.

Q: How would the production possibilities curve be impacted? Group of answer choices The PPC would…

A: 1. As a result of this policy more students will be able to attend the college. The PPC would shift…

Q: A firm has the following benefits and costs equations: B(Q) = 450Q - 26Q² and MC(Q) = 136Q The Q…

A: Given are the total benefits and total costs of the firm. The Q where total benefit would be…

Q: Problem 4: Consider the following Cash Flow. Write the required equations needed to solve the Annual…

A: To find the annual worth of above cash flow we firstly find the present worth of the cash flow .

Q: QUESTION 4 Mrs. Obaatanpa has a wealth of Ghe 3,500 for one year. There is a 35% probability that…

A: Given ,  Utility Function : U(Y) = Y0.5 Existing Wealth = 3500  Probability of loss  = 35% Loss =…

Q: Suppose you find that MU₁(x₁+x₂)=2x2 and MU₂(x1,x2)=2x1. What is the rate at which the consumer is…

A: Marginal Utility is the additional utility that a consumer gets or receives in the case of the…

Q: 5. Suppose you won on a lotto and you decided to buy a condominium unit located in Davao City for…

A: The future worth formula is FV= PV(1+i)n , where the PV rises for each period into the future by a…

Q: Use the Solow Model and graphically illustrate the effect of an increase in the saving rate on…

A: The Solow model is a model of economic growth.

Q: How does stability conflict with growth?

A: Growth refers to the rise in the production of goods and services in sustainable manner. The…

Q: Suppose you are a farmer with 20 hectares of land on which you could grow either wheat or barley.…

A: a) Wheat is allotted land on the X axis, and barley is allotted land on the Y axis.

Q: In a competitive constant cost industry with identical firms and free entry, long run producer…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…