Ask Question, Ask an Expert


Ask Microeconomics Expert

Suppose a single firm produces all of the output in a contestable market. The market inverse demand function is P = 150 - 2Q, and the firm's cost function is C(Q) = 4Q. Determine the firm's equilibrium price and corresponding profits.

The inverse market demand in a homogeneous-product Cournot duopoly is P = 200 - 3(Q1 + Q2) and costs are C1(Q1) = 26Q1 and C2(Q2) = 32Q2.

a. Determine the reaction function for each firm.

Firm 1: Q1 = - Q2
Firm 2: Q2 = - Q1

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M938504

Have any Question? 

Related Questions in Microeconomics

Assignmentquestion 1 how is a project baseline used to

Assignment Question 1) How is a project baseline used to guide the execution of the project's work, to evaluate progress and performance, and to control the project? Also, as you continue to think about monitoring and co ...

Finding the equilibrium pointat the beginning of 2005

FINDING THE EQUILIBRIUM POINT At the beginning of 2005, Toyota sold 175,000 vehicles. Based on the company's analysis of the small car market, the company believed that $16,000 was the equilibrium price based on the foll ...

Assignmentprin mktg onlinesource ccmarketing 2012

Assignment PRIN MKTG ONLINE Source: CCMarketing (2012). PepsiAmericas A Bottler Wholesaler in the Pepsi Channel of Distribution. Essential of Marketing. McGraw Hill- Education. This video explains the channel of distribu ...

Principles of economics1 which statement is truea today

Principles of Economics 1. Which statement is true? A) Today more workers in the U.S. are members of labor unions than any time in our history. B) Today labor unions are weaker than any time in the last 100 years. C) No ...

Topic 1 costs and economies of scaleyou have learned a good

Topic 1: Costs and Economies of Scale You have learned a good deal about production costs and profit in this unit. You have also learned that accountants and economists calculate profit differently. Moreover, many suppli ...

Suppose the consumerworker values two things a consumption

Suppose the consumer/worker values two things: a consumption good C and leisure L. Suppose that there are 24 hours in a day and the consumer/worker has a utility function U (C, L) = C^0.5 + L ^0.5 The price of consumptio ...

Problem 1 -an economic forecasting organization has

PROBLEM 1 - An economic forecasting organization has developed a model they feel will help them better predict the market conditions than just overall sentiment.  Their proprietary model yields either Positive or Negativ ...

Microeonomicsyou are given the following scenarios for

Microeonomics You are given the following scenarios for consideration: • Scenario 1: Assume that the government imposed a price ceiling on gasoline in order to prevent prices from getting too high. What are the economic ...

Organization theorythis is the take-home midterm

ORGANIZATION THEORY This is the take-home Midterm Examination. You can use all available information, but are not allowed any exchange of Information between students taking this course. The deadline of HARD COPY submiss ...

Discussion questions1 discuss the differences between

Discussion Questions 1. Discuss the differences between conducting a risk assessment for a carcinogen versus a non-carcinogen. 2. Discuss how OSHA's Field Operations Manual could be used by an organization's management t ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate