Refer to Scenario 13.15. If the firms price simultaneously, ...

[codyclark]

Refer to Scenario 13.15. If the firms price simultaneously, equilibrium would be
 
  A) an 80 price for Simple and a 70 price for Boring.
  B) an 80 price for Simple and a 25 price for Boring.
  C) a 35 price for Simple and a 70 price for Boring.
  D) a 35 price for Simple and a 25 price for Boring.
  E) a mixed strategy equilibrium.

Question 2

Suppose there are seven firms in a market where the three largest firms supply 20 of the market-clearing quantity and the other four firms supply 10 of the market-clearing quantity. What is the five-firm concentration ratio (i.e.
 
  , the share of total sales controlled by the five largest firms in the market)? A) 60
  B) 70
  C) 80
  D) 90

[tkempin]

Answer to Question 1

B

Answer to Question 2

C

[codyclark]

Thanks for the timely response, appreciate it

[cici]

Excellent