(Answered) A this was also illustrated in class and in the lecture

Economics

(a) This was also illustrated in class and in the lecture notes. Where {a; b; cg} > 0, p(Q) = a-bQ, and TC(q) = cq, show that the equilibrium quantity chosen by a Cournot competitor in an n-firm oligopoly is equal to qi =(a-c)/(n + 1)b

(b) Show that the equilibrium price in this market converges to marginal cost as n increases.

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M92215335
Price:- $20

Verified Expert

Priced at $40 Now at $20, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Business Economics

Economics - unemploymentwhat kind of monetary and fiscal

Economics - Unemployment What kind of monetary and fiscal policies could be introduced to reduce unemployment? Why would we expect these policies to have inflationary consequences? Illustrate your answer diagrammatically

Imagine an election with just two candidates candidate a

Imagine an election with just two candidates. Candidate A asks her consultant to conduct a poll to see if she (Candidate A) is leading. What is the "null hypothesis" value that is being "tested" in this example? Your an ...

A sample of n 4 individuals is selected from a normal

A sample of N = 4 individuals is selected from a normal population with μ = 70 and σ = 10. A treatment is administered in the sample, and after the treatment, the sample mean is found to be = 75. a. On the basis of the s ...

1 lisa and david have been married for two years they have

1. Lisa and David have been married for two years. They have just decided that summer of 2020 should be spent in Switzerland. They figured out that in order to meet the cost of the entire vacation they would only have to ...

What type of monopoly is sydney water describe the main

What type of monopoly is Sydney Water? Describe the main characteristics of this monopoly type in general and in relation to Sydney Water.

Looking for some guidance on estimating supply and demand

Looking for some guidance on estimating supply and demand curves. An sample practice problem lists: (demand and supply are in millions) Q(demand)=10-4P Q(supply)=-2+8P How do we plot something like this on a graph to fin ...

Imagine that in the consumption function autonomous

Imagine that in the consumption function, autonomous consumption is equal to 17.5, and the marginal propensity to consume is equal to 0.69. If current income (or output) is equal to 253.4, what is the value of aggregate ...

In a certain city a school administrator hypothesized that

In a certain city, a school administrator hypothesized that students enroll in school within 5 km from their homes. To check this claim you asked 30 student from the said city and you found that the mean distance between ...

Consider the following series of paymentsyear 0 20year 1

Consider the following series of payments: Year 0: 20 Year 1: 30 Year 2: 40 Year 3: 10 Year 4: 5 Using an interest rate of 10%: a. What is the present value of this series of payments? b. What is the future value of this ...

What type of exchange rate is associated with a higher

What type of exchange rate is associated with a higher probability of experiencing a crisis? Why?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert