The inverse demand for a homogeneous product Stackelberg duopoly is P 16,000 4Q. The cost structures for
Question:
The inverse demand for a homogeneous product Stackelberg duopoly is P 16,000 4Q. The cost structures for the leader and the follower, respectively, are CL(QL) = 4,000QL and CF (QF) = 6,000QF.
a. What is the follower’s reaction function?
b. Determine the equilibrium output level for both the leader and the follower.
c. Determine the equilibrium market price.
d. Determine the profits of the leader and the follower.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (13 reviews)
a b Q L 1750 Q F 375 c P 1600...View the full answer
Answered By
Mustafa olang
Please accept my enthusiastic application to solutionInn. I would love the opportunity to be a hardworking, passionate member of your tutoring program. As soon as I read the description of the program, I knew I was a wellqualified candidate for the position.
I have extensive tutoring experience in a variety of fields. I have tutored in English as well as Calculus. I have helped students learn to analyze literature, write essays, understand historical events, and graph parabolas. Your program requires that tutors be able to assist students in multiple subjects, and my experience would allow me to do just that.
You also state in your job posting that you require tutors that can work with students of all ages. As a summer camp counselor, I have experience working with preschool and kindergartenage students. I have also tutored middle school students in reading, as well as college and high school students. Through these tutoring and counseling positions, I have learned how to best teach each age group. For example, I created songs to teach my threeyearold campers the camp rules, but I gave my college student daily quizzes to help her prepare for exams.
I am passionate about helping students improve in all academic subjects. I still remember my excitement when my calculus student received her first “A” on a quiz! I am confident that my passion and experience are the qualities you are looking for at solutionInn. Thank you so much for your time and consideration.
4.80+
2+ Reviews
10+ Question Solved
Related Book For
Managerial Economics and Business Strategy
ISBN: 9780073523224
8th edition
Authors: Michael Baye, Jeff Prince
Question Posted:
Students also viewed these Economics questions

The inverse demand for a homogeneousproduct Stackelberg duopoly is P = 20,000 5Q. The cost structures for the leader and the follower, respectively, are CL(QL) = 3,000QL and CF (QF) = 4,000QF. a....

The inverse demand for fresh flowers in Point Barrow, Alaska, is given by P = 10  .01Qd. a. Use the demand function above to derive the associated marginal revenue function. (In other words, express...

The inverse demand for sandwiches over the lunch hour is given by P = 8  0.01Q, where P is the price per sandwich and Q is the total number of sandwiches brought to market. There are two sandwich...

(a) Find the acceleration at time t = 5 min of a helicopter whose height is s(t) = 300t 4t 3 m. (b) Plot the acceleration s" for 0 t 6. How does this graph show that the helicopter is slowing down...

A selfemployed person has a Keogh retirement plan. (This type of plan is free of taxes until money is withdrawn.) If deposits of $7,500 are made each year into an account paying 8% compounded...

You are selling a car brand that has 2 factories. The factories output is equal. Lately, 2.5% of the cars from Factory A have had problems with their brakes, whereas only 0.5% of the cars from...

Bowen Corporation has the following shares outstanding: 15,000 shares of \(\$ 50\) par value, six percent preferred stock and 50,000 shares of \(\$ 5\) par value common stock. During its first three...

The Ferre Publishing Company has three service departments and two operating departments. Selected data from a recent period on the five departments follow: The company allocates service department...

Crane company obtains $41,600 in cash by signing a 7%, 6month, $41,600 note payable to First Bank on july 1, Crane's fiscal year ends on septemeber 30. What information should be reported for the...

Jaspers unadjusted trial balance reports Unearned Client Revenue of $3,200 and Client Revenue Earned of $29,000. An examination of client records reveals that $2,800 of previously unearned revenue...

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. b....

Consider a Bertrand oligopoly consisting of four firms that produce an identical product at a marginal cost of $ 260. The inverse market demand for this product is P=8004Q. a. Determine the...

Refer to Exercise 4.35. Suppose the elementary outcomes are assigned these probabilities. P(el) = P(e2) = P(e3) = .15 P(e4) = P(e5) = .06 P(e6) = .2 P(e7) = .23 (a) find P(A), P(B), and P(AB). (b)...

A project has annual depreciation of $19,500, costs of $92,900, and sales of $135,500. The applicable tax rate is 34 percent. What is the operating cash flow?

Exploding Diapers,Inc is a daycare company in NYC.The company has expanded and now has 3centers.Center 1's Income Statement showed the following: Revenue $240,000 Direct Expenses 195,200 OH 50,000...

Hello, Individuals and companies need to manage and control both costs and cash flow, and the two concepts are closely related, but they are not accounted for in the same way. Explain the basic cash...

The ability to write strong feature stories is a frontline skill for strategic communication professionals. Regardless of the final format (news release, newsletter, social media, or elsewhere on the...

It is important to meet the professional standards of your field and your workplace. This is something you should consider when interviewing for a job as well as something to look for when beginning...

Calculate \(\iint_{\mathcal{S}}\left(x^{2}+y^{2}ight) e^{z} d S\), where \(\mathcal{S}\) is the cylinder with equation \(x^{2}+y^{2}=9\) for \(0 \leq z \leq 10\).

1. Below is depicted a graph G constructed by joining two opposite vertices of C12. Some authors call this a "theta graph" because it resembles the Greek letter 0. a. What is the total degree of this...

Alliance was a leasing company that devised an opportunity for thirdparty investors in which the investors paid money to Alliance for the purchase of commercial or kitchen equipment. Alliance then...

You are the manager of a small pharmaceutical company that received a patent on a new drug three years ago. Despite strong sales ($125 million last year) and a low marginal cost of producing the...

The second largest public utility in the nation is the sole provider of electricity in 32 counties of southern Florida. To meet the monthly demand for electricity in these counties, which is given by...

You are the manager of College Computers, a manufacturer of customized computers that meet the specifications required by the local university. Over 90 percent of your clientele consists of college...

Arroyo Manufacturingproduces 60,000 CDs on which to record music. The CDs have the following costs:Direct Materials$22,000Direct Labor30,000Variable Overhead6,000Fixed Overhead14,000Arroyo could...

For each department, use a twoway table to show both the number of employees whose salar01 is above 30,000 and also the number of employees whose salarie01 is not above 30,000. here is the data...

Using activitybased costing, the company computes overhead cost per unit of $5 for the standard model and $42 for the deluxe model. Which model should the company produce? Hint: Compute product cost...
Study smarter with the SolutionInn App