2.3 Explain what is meant by "bounded rationality." What role does this assumption play in the theory of the firm? 4.5 Discuss the difference between Bain's definition of barriers to entry and Stigler's definition. Would each of the following factors be a barrier to entry using Bain's definition? Using Stigler's? Explain your reasoning. a. economies of scale b. a brand name c. exclusive ownership of a key input Book problems 2.5 A firm produces cars, qc and trucks, qr. Its costs are given by 3qcqT C(qc, qT) = 50qc + 60qT - 2 Calculate the measure of economies of scope (see Application 2.7 in the book) for 20 cars and 10 trucks. What does this answer tell you about the production of cars and trucks