Consider a BERTRAND duopoly where each firm's price MUST BE IN WHOLE DOLLARS. Each firm incurs a $70 fixed costs and can produce any quantity without additional cost. Market demand is P(Q)=100-Q. Firm 1 has chosen $36 and Firm 2 has chosen $50. What are Firm 1's profit?
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Consider a BERTRAND duopoly where each firm's price MUST BE IN WHOLE DOLLARS. Each firm incurs a $70 fixed costs and can produce any quantity without additional cost. Market demand is P(Q)=100-Q. Firm 1 has chosen $36 and Firm 2 has chosen $50. What are Firm 1's profit?
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- Consider a BERTRAND duopoly where each firm's price MUST BE IN WHOLE DOLLARS. Each firm incurs a $50 fixed costs and can produce any quantity without additional cost. Market demand is P(Q)=100-Q. Firm 1 has chosen $25 and Firm 2 has chosen $50. What are Firm 1's profit? Do not enter the $.Question 11 Consider a BERTRAND duopoly where each firm's price MUST BE IN WHOLE DOLLARS. Each firm incurs a $80 fixed costs and can produce any quantity without additional cost. Market demand is P(Q)=100-Q. Firm 1 has chosen $23 and Firm 2 has chosen $50. What are Firm 1's profits? Do not enter the $.A movie theater is showing two different movies: a Hollywood blockbuster (with 100 customers willing to pay $10 for a ticket, and 100 willing to pay $8) and an independent film that attracts 50 film buffs, willing to pay $20 each. Marginal cost is zero and neither movie can fill theater capacity. What is the theater's maxim profit if it cannot price discriminate (it must charge the same price for both movies) and if it can price discriminate (it may charge different prices for different movies)?
- Consider a COURNOT duopoly. Market demand is P(Q)=140-Q and each firm faces a constant marginal cost of $20. If Firm 1 produces 29 units and firm 2 produces 30 units, what is Firm 2's Producer Surplus? Enter a number only, drop the $ sign.Consider a Bertrand Duopoly Model. Market demand curve is given by Q = 200- P. Firm A has a marginal cost of $20 and Firm B has a marginal cost of $50. In equilibrium, what is the market price? How many units does each firm produce? Calculate each firm's profit.The inverse market demand curve is P = 170-40. Two firms in this market evenly split the output. Each firm produces its product at a constant marginal cost of $10. Which of the following statements is/are TRUE? I. If one firm produces 2 more units of output, its profits will rise to $864. II. If neither firm cheats, each firm will earn a profit of $800. III. If one firm produces 3 more units of output, the other firm's profits will fall to $680. I and II I and III II and III I, II, and III
- Consider a Bertrand duopoly with inverse demand of P(Q) = 20 – Q, where Q = q4 + qB and firm A is the leader. Each firm has costs of MC = AC = 4. Answer the following questions: 1.What are the reaction functions of each firm? 2.What is the Bertrand equilibrium amount of units sold by each firm? 3.What is the market quantity and price?Here is a market with three firms: 1, 2, and 3. The demand curve is P=100-Q. There is no fixed cost but the marginal cost 10 for all firms. Firm 1 is a leader firm so that it decides the quantity Q1 first. Then two firms respectively decide their quantities Q2 and Q3 simultaneously. 1) At an equilibrium (SPE), Q1 is Q2=Q3= 2) At the equilibrium, (the market quantity) Q= and (the market price) P= 3) The profit of firm 1 is while the profit of firm 2 and 3 respectively isSuppose a duopoly where two firms compete in quantity. Firms have the same costs. Firm A acts as a Stackelberg leader whereas firm B acts as a follower. Suppose that another firm, C, identical to the first two enters the market and plays a follower. Profits for firms A and B: O (a) both are unaffected by the entry of firm C O (b) both decrease as a consequence of the entry of firm C O (c) the profits of firm A decrease and those of firm B are unaffected O (d) None of the above
- Consider a Bertrand duopoly where market demand is P(Q)=107-5Q. Each firm faces a marginal cost $18 and no fixed cost. what is one market price that can occur in a Nash equilibrium?Consider the following Stackelberg duopoly. Both firms produce a homogenous good. Firm 1 chooses how much to supply first. Firm 2 chooses how much to supply after observing the quantity supplied by firm 1. The market demand is Q= 100 – 4 P. For firm i, the total cost of production is TC(q) =5q,+2. What is the optimal quantity supplied by firm 12 10 20 30 40 QUESTION 6 Consider the following Stackelberg duopoly. Both produce a homogenous good. Firm 1 chooses how much to supply first. Firm 2 chooses how much to supply after observing the quantity supplied from firm 1. The market demand is Q= 100 - 4P. For firm i, the total cost of production is TC(q) =5q,+2. What is the market clearing price? O 10 O 15 20 O 25Suppose a country's mobile phone industry is supplied by only two firms (i.e. an oligopoly). Explain how the presence of two firms affects the price elasticity of demand of each firm's output.
