This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In the above figure, the monopolistically competitive firm makes an economic profit of A) 0. B) ... (Read 85 times)

WhattoUnderstand

  • Hero Member
  • *****
  • Posts: 517
on: Jun 29, 2018
In the above figure, the monopolistically competitive firm makes an economic profit of
 
  A) 0.
  B) between 0 and 50 per day.
  C) between 50.01 and 100 per day.
  D) greater than 100.01 per day.

Question 2

Dell and Gateway must decide whether to lower their prices, based on the potential economic profits shown in the payoff matrix above. (The profits are in millions of dollars). In the Nash equilibrium
 
  A) Dell keeps its prices high and Gateway lowers its prices.
  B) both Dell and Gateway lower prices.
  C) Gateway keeps its prices high and Dell lowers its prices.
  D) both Dell and Gateway keep prices high.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

al

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


WhattoUnderstand

  • Hero Member
  • *****
  • Posts: 517
Reply #2 on: Jun 29, 2018
Thank you :)


al

  • Sr. Member
  • ****
  • Posts: 344
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

The distribution of cones and rods over the human retina. The figure illustrates the number of cones ... The distribution of cones and rods over the human retina. The figure illustrates the number of cones ...
EYEMA-O-BYERI (Reliquary Figure) EYEMA-O-BYERI (Reliquary Figure)
How body makes blood flow more into brain instead of foot? How body makes blood flow more into brain instead of foot?
economic question economic question
economic question economic question
economic question economic question
Video: Major Elements in Biological Molecules: Lipids

For a complete list of videos, visit our video library