3 In the circular location model, .a) how does the position of the marginal consumer between any two firms dependon the total number of firms on the market? Explain mathematically andintuitively..b) How does the position of the marginal consumer between any two firms dependon the transportation cost's (linear) parameter "t"? Explain mathematically andintuitively.c) Explain mathematically and intuitively why the circular location model allows usto conceptualize the fact that established firms can release many variants of thesame good to deter entry?.d) Do you think that this conclusion would change, if we allowed firms on thecircular location model to have various degrees of quality and therefore differentproduction costs and prices? Explain mathematically and intuitively how themain results may change? Do the same also, if you believe that the main resultswould not change. .

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how does the position of the marginal consumer between any two firms depend on the total number of firms on the market? Explain mathematically and intuitively...

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

In the circular location model, .
a) how does the position of the marginal consumer between any two firms depend
on the total number of firms on the market? Explain mathematically and
intuitively..
b) How does the position of the marginal consumer between any two firms depend
on the transportation cost's (linear) parameter "t"? Explain mathematically and
intuitively.
c) Explain mathematically and intuitively why the circular location model allows us
to conceptualize the fact that established firms can release many variants of the
same good to deter entry?.
d) Do you think that this conclusion would change, if we allowed firms on the
circular location model to have various degrees of quality and therefore different
production costs and prices? Explain mathematically and intuitively how the
main results may change? Do the same also, if you believe that the main results
would not change. .

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