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Author Question: Puma's share of the athletic shoe market is 30 The own price elasticity of demand for Puma athletic ... (Read 119 times)

karateprodigy

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on: Jul 1, 2018
Puma's share of the athletic shoe market is 30 The own price elasticity of demand for Puma athletic shoes is 2.5 . What would be the own price elasticity of athletic shoes as a whole?
 a. 8.3
 b. 0.75
  c. 0.54
  d. 1.5

Question 2

If the game continues for infinity, then the new Nash Equilibrium is
 a. for one firm to charge a HP forever.
 b. for your firm charge a LP when the other firm does.
 c. for each firm to charge HP so long as the rival does, otherwise charge a LP.
  d. for each firm to charge LP until the rival does, and then to charge a HP forever.


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coreycathey

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Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

c


karateprodigy

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

ktidd

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Reply 3 on: Yesterday
Excellent

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