In the Hotelling model, what effect would an increase in the transportation cost t have on, in the first instance, a monopoly firm and, in the second instance, two firms located at the extremes of the line segment who compete over the marginal consumer?
a. The monopolist's profit would decrease but the duopolists' would increase.
b. Both monopolist's and duopolists' profits would increase.
c. Both monopolist's and duopolists' profits would decrease.
d. The monopolist's profit would increase but the duopolists' would decrease.
Question 2
The lemons problem is that
a. cars of verifiable high quality are withheld from the used car market
b. cars of verifiable low quality are withheld from the used car market
c. cars of unverifiable high quality are withheld from the used car market
d. cars of unverifiable low quality are withheld from the used car market
The leaky-barrel model: a settling-point model of eating and body weight homeostasis.
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The ancestral and modern-day tomato. (b) Phenotypic effect of the fw2.2 transgene in the tomato
Phrenology model showing areas of the head overlaying brain regions that control different traits. I
The attenuation model regulating the tryptophan operon