Each firm in a duopoly can produce any positive quantity of output by paying only a fixed cost of f. Let qi denote the output of firm i, and let Q denote the total output. The inverse demand function for the market is p = 10 - Q. (a) Find firm 2's best response function. (b) Suppose that the firms interact as in the Stackelberg model with firm 1 choosing its quantity and then firm 2 choosing its quantity (after observing firm 1's choice). Assume that f = 9. Find the equilibrium quantities and profits.

Q: Use the following data to answer the questions below. P $374.00 $366.52 $362.78 $340.34 $332.86…

A: Elasticity of demand depicts how much consumer responds with the change in the price level.

Q: List and describe the four types of intellectual property.

A: Protecting Intellectual Property Protection of intellectual property would be protection for…

Q: Do you think Netflix is under the market structure - Oligopoly? Why

A: Market structure refers to the different characteristics of the markets Characteristics of  markets:…

Q: 10 Average cost Profit or loss Marginal cost 8 7 4 Demand 2 1 Marginal revenue 10 20 30 40 50 60 70…

A: The profit is maximized where MC=MR At this pointP=6Q=40ATC=4Profit=(P-ATC)*Q=(6-4)*40=80 At the…

Q: What is the difference between a for profit and nonprofit business?

A:

Q: Does monopolistic competition literally require zero profits for all firms? Explain. Do…

A: Monopolistic competition is a market structure in which a large number of small firms compete with…

Q: From a marketing strategy and customer intimacy perspective, to what extent do you believe companies…

A: In democratic government typically, it has been seen that there is both public and private sector…

Q: Name at least three industries that will help you move to home ownership

A: The term 'home ownership' isn't simply home purchasing or putting away cash on a home, it implies…

Q: What is a franchise? Name several and popular franchises.

A: The correct answer is given in the second step.

Q: how to maximize profit in monopoly, competitive market, oligopoly and monopolistic competition?

A: Monopoly is a form of market where there is a single seller in the market. This seller is a price…

Q: Practice Directions: Read the following topic sentences taken from different paragraphs. From the…

A: The pattern of development used in given topic sentences needs to be chosen from the available…

Q: hat does an entrepreneur use to summarize his or her business strategy for a proposed new venture?

A: An entrepreneur is an individual who takes on the role of organizing, managing, and operating a…

Q: Hypotheses about  e-commerce platform; cross-border e-commerce platform?

A: A software tool that enable easy businesses to track their website, marketing, sales, and management…

Q: How consumer trends and insights fuell the growth of digital marketing.

A: Consumer insight: The understanding and interpretation of customer data, behaviors, and feedback. It…

Q: Question 20: Growing beyond the communal norms of space, family and work, today’s digital society…

A: Money is very important to power today's digital society. With the help of money,digital society…

Q: oligopoli - definition and main features

A: Oligopoly Market:  The oligopoly market can be defined as the one in which there are small number of…

Q: Suppose that Russell Wilson is negotiating a contract with the Seattle Seahawks. Wilson has an offer…

A: In sports economics, game theory examines how players, squads, and competitions interact tactically.…

Q: What is the reason that Wholesalers are the most misunderstood of marketing intermediaries?

A: When talking about market intermediaries, wholesalers and retailers play a significant role in the…

Q: Suppose we estimate the cross-price elasticity of two goods for a small town to be -.75. In this…

A: The cross-price elasticity of demand is defined as the relationship between two products when the…

Q: Write a paragraph to discuss 3 reasons why the large western firms should or should not to enter the…

A: The term "ecommerce" refers to a business strategy that allows businesses and individuals to buy and…

Q: Give 12 examples of oligopoly markets or industries can you think of.

A: Oligopoly refers to a market where a small number of large firms have all or most of the sales in an…

Q: Demonstrate conceptual understanding of the rapidly evolving social media and Internet marketing and…

A: The marketing communication mix include 1. Advertising 2. Sales promotion 3. Public relations 4.…

Q: Discuss and explain : "Advertising expenditure may serve to signal quality ofthe product"

A: Advertising is a type of commercial communication in which a product, service, or idea is promoted…

Q: duopoly market

A: A market in which there are only two sellers/producers is called duopoly. Economists have formed…

Q: What are Apple internal strenghts and weaknesses?

A: Approach to solving the question: First step: Examination of Apple's internal strengths Apple Inc.…

Q: What display how Apple competes via its chosen strategy

A: Beginning with the Macintosh computer in the 1980s and continuing all the way up to the iPhone in…

Q: In this unit we have seen that monopolistically competitive firms could increase the amount they…

A: Monopolistic competition is one type of market condition where many sellers face the market demand…

Q: For Kellogg Co., pringle chips describe how communication could be utilized to increase demand in a…

A: Demand refers to the desire, willingness, and ability of consumers to purchase a specific product or…

Q: Briefly explain the importance of communication infrastructure for businesses?

A: The Communications Sector is a fundamental part of nation economy, basic the activities, all things…

Q: In a 2015 article, published in the Journal of Health Economics, the elasticity of demand for heroin…

A: The elasticity of demand is the change in the demand due to the changes in various factors like…

Q: In a monopolistically competitive market, as new firms continue to enter, the demand that a typical…

A: A monopolistic market is a market structure characterized by a single firm or seller dominating the…

Q: what is monopoltic market ?

A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: Explain why Information Technology's cost-performance ratio is predicted to increase by a factor of…

A: Answer -   cost-performance ratio:-  It is the ratio of which related to equipment or technologies…

Q: How much control over decisions do the owner of corporation have?

A: It is the shareholders who own the corporations. The shareholders collectively have a great extent…

Q: Why do authorities in most countries have laws and regulation to prevent collusion

A: Laws are the rules and regulations that guide the people of the country.