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If the seller can discriminate between the two markets, what prices would she charge to each group of consumers?
What is the profit-maximizing number of passengers of each type? What is the profit-maximizing price for each type of passenger?
Why is the current allocation of seats profit maximizing? If not, would you sell more seats to business travelers or vacation travelers?
A summer theater has a capacity of 200 seats for its Saturday evening concert. What are two prices that would maximize profit for the Saturday evening concerts?
Find each firm's reaction function. Find the Cournot equilibrium quantities and the Cournot equilibrium price.
If the market demand for nuts is P = 100 - Q, find the Cournot equilibrium price and the quantity and profit level for each competitor.
What would the equilibrium price in this market be if the two firms colluded to set the monopoly price? What is the Bertrand equilibrium price in this market?
Why is it the case in a long-run monopolistically competitive equilibrium that the firm's demand curve is tangent to its average cost curve?
What are the characteristics of a monopolistically competitive industry? Provide an example of a monopolistically competitive industry.
What is the role played by the competitive fringe in the dominant firm model of oligopoly?
Why is the Cournot equilibrium price less than the monopoly price? Why is the Cournot equilibrium price greater than the perfectly competitive price?
What is a reaction function? Why does the Cournot equilibrium occur at the point at which the reaction functions intersect?
what is the advertising elasticity of demand facing a typical producer, under assumption that each producer has chosen its advertising level to maximize profit.
By how much should the company mark up price over marginal cost for its footwear? What should the company's advertising-to-sales ratio be?
Suppose the marginal cost of the ferry trip and use of beach is 50 per customer. What prices should the firm charge for its excursion tickets?
Explain why each firm's reaction function slopes upward. That is, why does Coke's profit-maximizing price go up the higher is Pepsi's price?
What is the equation of the supply curve for the competitive fringe? What is the equation of the residual demand curve?
find the value of y, Britney's output level, and the output level of the competitive fringe.
If Apple is a monopolist, find its optimal price and output. What are its profits?
What is the Cournot equilibrium quantity for each firm? What is the equilibrium market price?
Find the Cournot equilibrium outputs in this market. How much profit does each firm make? How much profit does each firm make?
Find the Cournot equilibrium quantities for each firm. What is the Cournot equilibrium market price?
What is the Cournot equilibrium outputs for each firm? What is the market price at the Cournot equilibrium? What is the profit of each firm?
An industry consists of two Cournot firms selling a homogeneous product with a market demand curve. Compute the Cournot equilibrium quantities and price.
An industry is known to face market price elasticity of demand. What would the Lerner Index be at the Cournot equilibrium in this industry?