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Womes e Foto 5. Mas 9.00 BIUS X* X AA. A A Consider the tables below that show the profits of two duopolists at different output-in-firm-1 (91) and output-in- firm-2 (92) combinations. 1) Suppose the firms are Cournot duopolists. Derive the two firms' reaction functions. 2) Show the Cournot adjustment process (how they react to each other's output) using the reaction functions. Suppose that firm 2 two starts the adjustment process by assuming firm 1's output will be 1. 3) State the Cournot equilibrium output pair and profits. 4) Next, find the Stackelberg equilibrium output pair provided that F1 is the leader, and also find the profits in the Stackelberg equilibrium. Explain how you found this equilibrium. First firm's profit 92 7 11 5 1 2 3 1 15.5 30 41.5 50 55.5 58 57.5 54 2 14.5 28 38.5 46 50.5 52 50.5 46 5.5 10 11.5 4 12.5 24 32.5 38 40.5 40 36.5 30 3 13.5 26 35.5 42 45.5 46 43.5 38 11.5 22 29.5 34 6 10.5 20 26,5 30 30.5 8 8.5 16 20.5 22 20.5 16 8.5 -2 9 7.5 14 17.5 18 15.5 10 9.5 18 23.5 26 25.5 22 15,5 6 4 10 6.5 12 14.5 14 10.5 4 -5.5 -18 12 4.5 8 8.5 6 0.5 -8 -19.5 -34 10 5.5 -2 - 12.5 -26 35.5 34 28 22.5 1.5 91 29.5 22 -10 4134 D Sa 5 1 A AC . - I functions. Suppose that nrm 2 two starts the adjustment process by assuming frm 1s output will be 1. 3) State the Cournot equilibrium output pair and profits. 4) Next, find the Stackelberg equilibrium output pair provided that F1 is the leader, and also find the prof in the Stackelberg equilibrium. Explain how you found this equilibrium. First firm's profit 2 4 8 10 1 15.5 3 13.5 9 7.5 11 5.5 12 4.5 1 6.5 14.5 28 12.5 24 30 26 14 2 3 q2 6 10.5 20 26.5 30 30.5 28 8.5 16 20.5 22 41.5 35.5 32.5 38 4 8 8.5 6 0.5 50 42 7 9.5 18 23.5 26 25.5 22 15.5 6 -6.5 38.5 46 50.5 52 50.5 5 55.5 58 40.5 5 11.5 22 29.5 34 35.5 34 29.5 22 11.5 -2 -18.5 45.5 46 do a 40 6 7 43.5 38 41 36.5 30 20.5 8 12 14.5 14 10.5 4 -5.5 -18 -33.5 -52 -73.5 -98 17.5 18 15.5 10 1.5 -10 -24.5 -42 -62.5 -86 46 20.5 16 8.5 -2 -15.5 -32 -51.5 -74 57.5 54 47.5 38 25.5 10 10 11.5 10 5.5 -2 -12.5 -26 -42.5 -62 -84.5 -110 22.5 14 2.5 -12 -29.5 -50 9 -8 -19.5 -34 -51.5 -72 29.5 38.5 28 8 -22 10 11 18 3.5 -14 14.5 -2 -40.5 -7.5 -26 -95.5 -122 12 -38 -62 Second firm's profit 91 6 2 3 5 4 1 12 11 8 7 9 10 din Oy o $ Type here to a ED B c G BRINUTOHIF FASHIONABLE ALD 46 38 6 OOC -2 -34 54 47.5 38 38.5 30 20.5 8 22 11.5 14 2.5 29.5 18 -10 -24.5 18 -33.5 -6.5 -22 10 11 28 14.5 -52 -2 -18.5 25.5 3.5 -26 -42.5 -62 -84.5 - 110 -15.5 -32 -51.5 -74 -12 -29.5 -50 -7.5 -42 -62.5 -86 -51.5 -72 -95.5 -122 -40.5 -62 12 10 -2 -14 -73.5 -98 -26 -38 Second firm's profit 1 8 1 6.75 15 20.75 24 24.75 q1 2 3 4 5 6 7 12.75 11.75 10.75 9.75 8.75 7.75 27 25 23 21 19 17 38.75 35.75 32.75 29.75 26.75 23.75 48 44 40 36 32 28 54.75 49.75 44.75 39.75 34.75 29.75 59 53 47 41 35 29 60.75 53.75 46.75 39.75 32.75 25.75 60 52 44 36 28 20 56.75 47.75 38.75 29.75 20.75 11.75 51 41 31 21 11 1 42.75 31.75 20.75 9.75 -1.25 - 12.25 32 20 8 -4 -16 -28 9 5.75 13 17.75 20 19.75 17 11.75 4 10 4.75 11 14.75 16 14.75 11 4.75 12 2.75 7 8.75 8 4.75 13.75 29 41.75 52 59.75 65 67.75 68 65.75 61 53.75 44 11 3.75 9 11.75 12 9.75 5 -2.25 23 -1 42 -12 18.75 12 2.75 -9 -23.25 -40 9 10 11 -6.25 -19 -34.25 -52 -9.25 -20 -33.25 -49 -67.25 -4 -15.25 -24.25 -29 -39 -45.25 -56.25 -64 -76 -88 De 10 D G a 3 2 D Toe here to search HOME FASHION SALE Womes e Foto 5. Mas 9.00 BIUS X* X AA. A A Consider the tables below that show the profits of two duopolists at different output-in-firm-1 (91) and output-in- firm-2 (92) combinations. 1) Suppose the firms are Cournot duopolists. Derive the two firms' reaction functions. 2) Show the Cournot adjustment process (how they react to each other's output) using the reaction functions. Suppose that firm 2 two starts the adjustment process by assuming firm 1's output will be 1. 3) State the Cournot equilibrium output pair and profits. 4) Next, find the Stackelberg equilibrium output pair provided that F1 is the leader, and also find the profits in the Stackelberg equilibrium. Explain how you found this equilibrium. First firm's profit 92 7 11 5 1 2 3 1 15.5 30 41.5 50 55.5 58 57.5 54 2 14.5 28 38.5 46 50.5 52 50.5 46 5.5 10 11.5 4 12.5 24 32.5 38 40.5 40 36.5 30 3 13.5 26 35.5 42 45.5 46 43.5 38 11.5 22 29.5 34 6 10.5 20 26,5 30 30.5 8 8.5 16 20.5 22 20.5 16 8.5 -2 9 7.5 14 17.5 18 15.5 10 9.5 18 23.5 26 25.5 22 15,5 6 4 10 6.5 12 14.5 14 10.5 4 -5.5 -18 12 4.5 8 8.5 6 0.5 -8 -19.5 -34 10 5.5 -2 - 12.5 -26 35.5 34 28 22.5 1.5 91 29.5 22 -10 4134 D Sa 5 1 A AC . - I functions. Suppose that nrm 2 two starts the adjustment process by assuming frm 1s output will be 1. 3) State the Cournot equilibrium output pair and profits. 4) Next, find the Stackelberg equilibrium output pair provided that F1 is the leader, and also find the prof in the Stackelberg equilibrium. Explain how you found this equilibrium. First firm's profit 2 4 8 10 1 15.5 3 13.5 9 7.5 11 5.5 12 4.5 1 6.5 14.5 28 12.5 24 30 26 14 2 3 q2 6 10.5 20 26.5 30 30.5 28 8.5 16 20.5 22 41.5 35.5 32.5 38 4 8 8.5 6 0.5 50 42 7 9.5 18 23.5 26 25.5 22 15.5 6 -6.5 38.5 46 50.5 52 50.5 5 55.5 58 40.5 5 11.5 22 29.5 34 35.5 34 29.5 22 11.5 -2 -18.5 45.5 46 do a 40 6 7 43.5 38 41 36.5 30 20.5 8 12 14.5 14 10.5 4 -5.5 -18 -33.5 -52 -73.5 -98 17.5 18 15.5 10 1.5 -10 -24.5 -42 -62.5 -86 46 20.5 16 8.5 -2 -15.5 -32 -51.5 -74 57.5 54 47.5 38 25.5 10 10 11.5 10 5.5 -2 -12.5 -26 -42.5 -62 -84.5 -110 22.5 14 2.5 -12 -29.5 -50 9 -8 -19.5 -34 -51.5 -72 29.5 38.5 28 8 -22 10 11 18 3.5 -14 14.5 -2 -40.5 -7.5 -26 -95.5 -122 12 -38 -62 Second firm's profit 91 6 2 3 5 4 1 12 11 8 7 9 10 din Oy o $ Type here to a ED B c G BRINUTOHIF FASHIONABLE ALD 46 38 6 OOC -2 -34 54 47.5 38 38.5 30 20.5 8 22 11.5 14 2.5 29.5 18 -10 -24.5 18 -33.5 -6.5 -22 10 11 28 14.5 -52 -2 -18.5 25.5 3.5 -26 -42.5 -62 -84.5 - 110 -15.5 -32 -51.5 -74 -12 -29.5 -50 -7.5 -42 -62.5 -86 -51.5 -72 -95.5 -122 -40.5 -62 12 10 -2 -14 -73.5 -98 -26 -38 Second firm's profit 1 8 1 6.75 15 20.75 24 24.75 q1 2 3 4 5 6 7 12.75 11.75 10.75 9.75 8.75 7.75 27 25 23 21 19 17 38.75 35.75 32.75 29.75 26.75 23.75 48 44 40 36 32 28 54.75 49.75 44.75 39.75 34.75 29.75 59 53 47 41 35 29 60.75 53.75 46.75 39.75 32.75 25.75 60 52 44 36 28 20 56.75 47.75 38.75 29.75 20.75 11.75 51 41 31 21 11 1 42.75 31.75 20.75 9.75 -1.25 - 12.25 32 20 8 -4 -16 -28 9 5.75 13 17.75 20 19.75 17 11.75 4 10 4.75 11 14.75 16 14.75 11 4.75 12 2.75 7 8.75 8 4.75 13.75 29 41.75 52 59.75 65 67.75 68 65.75 61 53.75 44 11 3.75 9 11.75 12 9.75 5 -2.25 23 -1 42 -12 18.75 12 2.75 -9 -23.25 -40 9 10 11 -6.25 -19 -34.25 -52 -9.25 -20 -33.25 -49 -67.25 -4 -15.25 -24.25 -29 -39 -45.25 -56.25 -64 -76 -88 De 10 D G a 3 2 D Toe here to search HOME FASHION SALE