Consider a duopoly in which the marginal cost of every firm is $2. The market demand is: Q = 14 - P, where Q = q1 + q2, and P denotes the price per unit. Calculate the total output, price and production quotas (assuming each firm has 50% of the market) if the firms maximize the joint profits. Total output Q = Price P = $ Production quotas q1 =  , q2 =

Q: Samantha Cooperate Defect Steve Cooperate 4, 4 -2, 2 Defect 2,-2 0,0 a. Consider two periods of…

A: a) t=1 → (C,C) →(4,4)t=2 →(C,C) →(4,4)t=3 →(D, C) →(2,-2)t=4 → (D,D) →(0,0) Discounted utility of…

Q: A monopolistically competitive firm faces the following demand schedule for its product. In…

A: P ($) Q TR MR TC MC Profit 30 1 30 - 20 - 10 26 2 52 22 20 7 32 22 3 66 14 20 7 46 18 4 72 6…

Q: Total Total Total Average Average Average Product Fixed Variable Total Marginal Fixed Variable Total…

A: Total cost is the sum of fixed cost and variable cost. Fixed cost is constant throughout the…

Q: What will happen to the supply and demand curve, equilibrium price and quantity of boots if price of…

A: The cost of production factors, rather than market pricing, is used to calculate factor cost or…

Q: Give two examples of how globalization has helped you economically and two examples of how it may…

A: Globalization has aided the spread of recent technologies, allowing economies to become more…

Q: 6. Suppose we have a sample average X = 0.75 with standard error oz = 0.33. What is the 95%…

A: Z values for 5% and 2.5% are 1.45 and 1.960 respectively.

Q: ssume the following information for an imaginary, closed economy. Consumption = $1,000; investment =…

A: Aggregate expenditure is the sum of consumption, investment and government spending in a closed…

Q: 3. In the Solow growth model, suppose that the marginal product of capital increases for each…

A: PLEASE FIND THE ANSWER BELOW.

Q: If the social welfare function produces concave social welfare indifference curves, social welfare…

A: The social welfare function explains the overall impact of economic activities on the welfare of the…

Q: Consider a monopolist that faces a demand curve P = 40 - Q and has a total cost function TC = 12 +…

A: TC = 12+ 50Q Fixed cost = 12 and varaiable cost = 50Q AVC = VC/Q = 50Q/Q = 50

Q: The short run refers to a period: a. of several days. b. during which prices are sticky and…

A: A time in the future when one or more inputs are fixed and others are variable is referred to as the…

Q: Lori is a student who teaches golf on the weekend and in a year earns $40,000 after paying her…

A: The market value represents the value of a company according to the stock market. It is the price an…

Q: he difference between economic profit and accounting profit is that economic profit is calculated…

A: here we find the whether the given statement is true or false as follow;

Q: The demand for soft drinks is given by the equation: Q = 100 − 2P where P pence is the price per can…

A: Revenue is maximised at a point where marginal revenue is equal to 0. Marginal revenue is calculated…

Q: If society values a more equal distribution of goods which is embodied in Social Indifference…

A: When talking about social indifference curve, it is the curve that represents the combination of…

Q: According to Classical Point of view A) Cyclical Unemployment might occur temporarily B) All goods…

A: Classical economics is a term that refers to the dominant school of thought for economics in the…

Q: 1. In the Malthusian model, suppose that the quantity of land increases. Using diagrams, determine…

A: A Malthusian growth model, often known as a basic exponential growth model, is simply exponential…

Q: TRUE OR FALSE   Social welfare indifference curves are useful in discussions about the tradeoffs…

A: An indifference bend shows a blend of two products that give a shopper equivalent fulfillment and…

Q: What is economics?

A: Scarcity: - it is a very basic problem of economics that is related to the limited availability of…

Q: A certain operation is now performed by hand, the labor cost per unit is P 54 and annual fixed…

A: Explanation: Let # of units per year = X Operation by hand Labor cost per unit = P 54 Annual fixed…

Q: If discouraged workers are included in the determination of the unemployment rate, what effect will…

A: Discouraged workers are those who are not encouraged in doing the work.

Q: we are examining the growth of the industrial US. Select one major shift in American culture that…

A: Apprenticeships for craftsmen were no longer required with the advent of industrial production, and…

Q: Could you recommend a strategy that may work for this goal, based on your microeconomics knowledge?…

A: It is feasible for unions to improve their interests in some circumstances by modifying or altering…

Q: In an auction, the winning bidder often ends up as an overly optimistic loser because of O a.…

A: Asymmetric information: It is the case where due to lack of information about some issues will…

Q: a. Explain why the aggregate short-run aggregate supply curve is upward sloping?

A: Short Run Aggregate Supply Curve = SRAS

Q: [16] Operating in the short run with one fixed input and one variable input, the marginal product of…

A: Given, Marginal Product (MP) = 10 - X whereas, X = Quantity of the input Output Price (P) = 3 Price…

Q: Total Total Total Average Average Average Total Man Product Fixed Variable Fixed Variable Total Cost…

A: Total cost is the sum of fixed cost and variable cost. Marginal cost refers to change in total…

Q: Mcdonald's, a big burger joint, is charging $5 for its very famous Big Mac hamburger and selling…

A: (a). P1=$5Q1=20million P2=$6 Q2=Q1=20million Total Revenue=P×Q  =6×20 million  =120 million Price…

Q: Why Marginal Revenue is less than Price for a monopolist facing a downward sloping market demand…

A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Explain the effect of Changes in domestic and foreign Interest Rates on the equilibrium exchange…

A: The economies around the globe are involved in international trade with each other. The nations…

Q: How does income affect health care and healthoutcomes?

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: 3. Suppose that there are two countries with dif- ferent levels of total factor productivity, and…

A: Low productivity means companies are struggling to provide more with the identical resources.Low…

Q: Micromedia offers computer training seminars on a variety of topics. In the seminars each student…

A: Projected fee = $600 per student  Cost = $9,600  Micromedia rent computers cost =$120 per computer…

Q: TRUE OR FALSE Each individual has a utility function that spits out a number representing how happy…

A:

Q: The marginal cost function of a firm is defined by MC=25+30Q-9Q², if it's fixed cost is 55. Find the…

A: Given: The marginal cost is:  MC = 25 + 30Q - 9Q2 The fixed cost is = 55 To Find: The total cost:

Q: 6. In a pricing scenario, what is the essence of the difference between the context of a…

A: Two players Prisoners dilemma game where each player has two actions confess and dont confess.

Q: uppose that there two types of consumers: students (S) and non-students (NS). The demand for a trip…

A: Individual demand refers to the quantity demanded by a single consumer where market demand refers to…

Q: The the expected future exchange rate, the greater is the expected profit from holding dollars and…

A: Exchange rate: - the exchange rate is the rate at which the currency of one country can be exchanged…

Q: shop which sells T-shirts has a demand function and a total cost function given by the equations P =…

A: A firm will maximise profit at a point where marginal revenue is equal to marginal cost and price is…

Q: Alter the Solow growth model so that the pro- duction technology is given by Y = zK, where Y is…

A: Given, Y=zK Where, Y=OutputK=CapitalZ=Factor productivityS=Saving rate

Q: Back in the 1950s, General Motors (GM) was at its peak. It was widely viewed as a shining example of…

A: The broad types of possible markets in an open economy (i.e. an economy that can trade freely,…

Q: Use the following assumptions to answer all questions: • There are three countries – Argentina,…

A: Since the question you have posted consists of multiple parts, we will answer the first three…

Q: 2. In Canada today there is said to be a shortage of people to fill some careers, while there is a…

A: Given,  In Canada there is a shortage of labour in some careers Skilled Labour refers to the…

Q: How is the performance of Philippine economy in the year 2017 in terms of rate of unemployment?

A: In the mentioned question we have been asked what is the rate of unemployment of Philippine in 2017.

Q: Consider a market for US Dollars (USD) that begins in equilibrium with nominal exchange rate eo.…

A: The Foreign Exchange rate is the rate at which one country's currency is changed for another…

Q: From the following data relating to the number of letters posted a port office find the seasonal…

A: In the mentioned question we have to calculate seasonal variations using the method of simple…

Q: a. Define income elasticity, and state its range of values for normal goods. demonded of nommot guo…

A:

Q: Indifference Curve and Budget Line (20%)  Annie has an income of $240 an hour. Popcorn costs $8 a…

A: * SOLUTION :-  (4)

Q: 6. Suppose we have a sample average X = 0.75 with standard error o, = 0.33. What is the 95%…

A: Sample mean = 0.75 standard error of sample mean is 0.33  For 95%, Z = 1.96

Q: Based on 1337 data points, the following equation was estimated using OLS.From this fragment of data…

A: Given  Estimated OLS equation: Ghat = 11.7+2.5W  For 445th data point, value of W is 32. We have to…