subject
Business, 07.06.2021 17:50 Nowellkwaku

Two firms (1 and 2) compete in a homogeneous goods market, where the firms produce exactly the same good. The firms simultaneously and independently select quantities to produce. The quantity selected by firm i is denoted q, and must be greater than or equal to zero, for i - 1,2. The market price is given by p-2 - q1 -q2. For simplicity, as sume that the cost to firm i of producing any quantity is zero. Further, assume that each firm's payoff is defined as its profit. That is, firm i's payoff is pqi, where j denotes firm i's opponent in the game. Requried:
Describe the normal form of this game by expressing the strategy spaces and writing the payoffs as functions of the strategies.

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 23:30
Consider the following scenarios. use what you have learned to decide if the goods and services being provided are individual, public, or merit goods. for each case, state what kind of good has been described and explain your answer using the definitions of individual, public, and merit goods. (6 points each) 1. from your window, you can see a city block that's on fire. you watch city firefighters rescue people and battle the flames to save the buildings. 2. while visiting relatives, you learn that your cousins attend a nearby elementary school that is supported financially by local property tax revenue. 3. you see a squadron of military jets flying overhead. 4. you find out that your aunt works for a defense manufacturing company that has several defense contracts with the government. she tells you that she works for a team that is producing a communications satellite. 5. your class visits a local jail run by a private, profit-making company that detains county criminals and is paid with tax revenue.
Answers: 1
question
Business, 22.06.2019 09:50
Is exploiting a distinctive competence or improving efficiency for competitive advantage. (a) cooptation (b) coalition (c) competitive intelligence (d) competitive aggression (e) smoothing
Answers: 1
question
Business, 22.06.2019 15:00
Which of the following is least likely to a team solve problems together
Answers: 1
question
Business, 22.06.2019 15:20
Table 1. shows the expected demand for the dvd at different suggested donation levels, and they can act as a single-price monopolist if they choose to. thereceipts will be used to fund gstcg supplies for their data collection and conservation work. at the end of each sea turtle nesting season, any excess funds are donated by the gstcg to a local non-profit sea turtle research and rehabilitation facility. table 1 suggested anticipated total marginal profit donation per number of dvd revenue revenue dvd request requests $19.00 0 $15.00 2 $9.50 4 $7.75 10 $3.00 15 $0.00 20 a. complete table 1 by computing the total revenue, marginal revenue, and profit columns. b. the president wants the gstcg to provide videos to generate the most possible donations (total revenue). what price, if any, is the president of the gstcg favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. c. the education outreach committee wants the gstcg to provide videos to the highest possible number of people. what price, if any, is the educational outreach committee favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. d. the treasurer of the gstcg wants the dvd program to be as efficient as possible so that the marginal revenue equals marginal cost. what price, if any, is the treasurer favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. e. the fundraising committee wants the dvd program to generate as much profit in donations as possible. what price, if any, is the fundraising committee favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer.
Answers: 3
You know the right answer?
Two firms (1 and 2) compete in a homogeneous goods market, where the firms produce exactly the same...
Questions
Questions on the website: 13722363