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Author Question: A short-run total cost function, TC = 100 + 32Q - 4Q2 + 0.4Q3, indicates the existence of A) a ... (Read 23 times)

penza

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on: Jul 1, 2018
A short-run total cost function, TC = 100 + 32Q - 4Q2 + 0.4Q3, indicates the existence of
 
  A) a linear total cost curve.
  B) a constant average variable cost curve.
  C) a U-shaped average variable cost curve.
  D) a constant marginal cost curve.

Question 2

The above figure shows the payoff to two airlines, A and B, of serving a particular route. If the two airlines must decide simultaneously, how many Nash equilibria are there?
 
  A) 0
  B) 1
  C) 2
  D) It cannot be determined.


choc0chan

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

C

Answer to Question 2

B


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penza

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Reply #2 on: Jul 1, 2018
Thank you


choc0chan

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Reply #3 on: Jul 1, 2018
No problemo


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