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Komok [63]
4 years ago
14

g (Asymmetric Cournot Duopoly) Consider a Cournot duopoly model with price function 푝푝(푄푄)= 100−푄푄, where 푄푄=푞푞1+푞푞2 is the tota

l production quantity. Two firms have different unit product costs: 푐푐1= 20 ,푐푐2= 30. a.Write down this game in normal-form representation.b.What is Firm 1’s best response if Firm 2’s quantity is 푞푞2? What is Firm 2’s best response if Firm 1’s quantity is 푞푞1? c.Find the Nash equilibrium.

Business
1 answer:
kap26 [50]4 years ago
5 0

Answer:

Answer for the question:

g (Asymmetric Cournot Duopoly) Consider a Cournot duopoly model with price function 푝푝(푄푄)= 100−푄푄, where 푄푄=푞푞1+푞푞2 is the total production quantity. Two firms have different unit product costs: 푐푐1= 20 ,푐푐2= 30. a.Write down this game in normal-form representation.b.What is Firm 1’s best response if Firm 2’s quantity is 푞푞2? What is Firm 2’s best response if Firm 1’s quantity is 푞푞1? c.Find the Nash equilibrium.

is given in the attachment.

Explanation:

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Tax Services prepares tax returns for senior citizens. The standard in terms of​ (direct labor) time spent on each return is hou
garik1379 [7]

Answer:

Tax Services

Total wages were:

= hourly wage rate * total hours spent on returns for the month

For example, if the hourly wage rate is $50 and the total hours spent on the returns equal 560 hours, the total wages will be equal to $28,000 ($50 x 560).

Explanation:

The Tax Services' total wages will be equal to the hourly wage rate multiplied by the total hours spent on returns during the month.  The total hours spent on the returns for the month is obtained by adding up the hours spent on all the returns.  The total wages depend on the hours worked and the standard wage rate that has been established in the firm.

7 0
3 years ago
Explain way economic deals with allocation and efficient utilization of scarce resources only?
solniwko [45]

Economics deals with the allocation and efficient utilization of scarce resources as human wants are unlimited and resources to satisfy those needs are limited in nature. Hence, to utilize the resources in the optimum possible way and meet the demands of humans, the economy allocates scarce resources.

<h3>How Microeconomics allocates scarce resources?</h3>

Microeconomics analyses how scarce resources are allotted efficaciously to the production of products and services. It facilitates in resolving the critical financial issues of the economic system at an individual level.

Thus, in this manner, Economics deals with the allocation and efficient utilization of scarce resources as human wants are unlimited and resources to satisfy those needs are limited in nature.

learn more about allocation of scarce resources:

brainly.com/question/6107102

#SPJ1

3 0
2 years ago
A company developed the following per unit materials standards for its product: 3 pounds of direct materials at $5 per pound. If
lara [203]

Answer:

7,500 Unfavorable

Explanation:

Standard rate = $5 per pound

Actual quantity = 37,500 pounds

Direct labor quantity variance:

= Standard rate × (Standard quantity - Actual quantity)

= 5 × [(12,000 units × 3 pounds) - 37,500 pounds]

= 5 × [36,000 pounds - 37,500 pounds]

= 5 × 1,500

= 7,500 Unfavorable

Therefore, the direct materials quantity variance was 7,500 Unfavorable.

5 0
3 years ago
Marquis Company estimates that annual manufacturing overhead costs will be $900,000. Estimated annual operating activity bases a
Ilya [14]

Answer:

Results are below.

Explanation:

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Direct labor cost:

Predetermined manufacturing overhead rate= 900,000 / 500,000

Predetermined manufacturing overhead rate= $1.8 per direct labor dollar

Direct labor hours:

Predetermined manufacturing overhead rate= 900,000 / 50,000

Predetermined manufacturing overhead rate= $18 per direct labor hour

Machine-hour:

Predetermined manufacturing overhead rate= 900,000 / 100,000

Predetermined manufacturing overhead rate= $9 per machine hour

5 0
3 years ago
1. Consider the following project and its cash flow: Investment cost $10,000 Expected life 5 years Market (salvage) value* -$1,0
avanturin [10]

Answer:

PW = 2,911

FW = 5,856

Since both PW and FW are positive project may be accepted

Explanation:

the file attached below shows the full explanation

Download docx
8 0
4 years ago
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