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Valentin [98]
3 years ago
7

Bernard loves to socialize and is great at debating. His high grades in school meant that he could attend Law School, but he dec

ided he would much rather become an elementary school principal. Which economic systems does Bernard’s country most likely reflect? Select all that apply. market system planned system mixed system none of the above
Business
2 answers:
d1i1m1o1n [39]3 years ago
6 0
Planned system and mixed system
Effectus [21]3 years ago
4 0

Bernard loves to socialize and is great at debating. His high grades in school meant that he could attend Law School, but he decided he would much rather become an elementary school principal. Which economic systems does Bernard’s country most likely reflect?

Mixed system - This system blends market economies with those of a planned economy. There are free markets, state interventionism, or private/public enterprise systems. Since  Bernard is good at one thing but prefers to do another, he has the freedom to chose. This country has an economic system that allows Bernard opportunities that he may not have in a more controlled economy telling him what to do. There is freedom within a mixed system.

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Suppose that the duopolists Carl and Simon face an inverse demand function for pumpkins of P = 400 - Q, where Q = Qs + Qc is the
Usimov [2.4K]

Answer:

the Cournot-Nash equilibrium, Simon's production is 82 units

Explanation:

The Cournot-Nash Equilibrium for  Simon's production is calculated as follows:

P = 400 - Q \\ \\ Q = Q_s + Q_c

Reaction function of Carl is as follows:

Carl maximize profit at HR_c = HC_c

TR_c = P*Q_c

TR_c = (400 -Q_s -Q_c)Q_c

TR_c = 400Q_c -Q_sQ_c -Q_c^2

⇒ HR_c = \delta TR_c/ \delta Q_c

HR_c =400 -Q_s -2 Q_c

C_c = 30 Q_c + Q_c^2

⇒ HC_c = \delta C_c/ \delta Q_c

HC_c =30+2Q_c

Set HR_c = HC_c

400 - Q_s - 2 Q_c = 30 - 2Q_c  \\ \\ 400 - Q_s -30 = 2Q_c + 2Q_c \\\\(370 Q_s) = 4 Q_c \\ \\ Q_c = (370-Q_s)/4 \\ \\ Q_c = 92.5 - 0.25 Q_s \to Reaction \ function \ of \ Carl --- equation (1)

Reaction function of Simon

Since Simon maximize profit  at HR_s = HC_s

TR_s = PQ_s \\ \\ TR_s = (400-Q_c -Q_s)Q_s \\ \\ TR_s = 400 Q_s - Q_cQ_s - Q_s^2

HR_s = \delta TR_s/ \delta Q_s

HR_s =400 - Q_c -2Q_s

C_s = Q_s^2

HC_s= \delta C_s/ \delta Q_s

HC_s=2Q_s

Set HR_s = HC_s

400- Q_c - 2Q_s = 2Q_s \\ \\ 400 - Q_c = 2Q_s+2Q_s \\ \\ 4Q_s = 400 - Q_c \\ \\ Q_s = (4000- Q_c)/4 \\ \\ Q_s = 100 -0.25 Q_c  ---  Reaction \ function \ of \ Simon \ -- equation (2)

Substituting equation (1) into equation (2)

Q_s =100 -0.25Q_c \\ \\ Q_s = 100 - 0.25(92.5-0.25 Q_s) \\ \\ Q_s = 100 -23.125 +0.0625Q_s  \\ \\ (Q_s-0.0625Q_s) = 76.375 \\ \\ 0.9375 Q_s = 76.875 \\ \\ Q_s = 76.375/0.9375 \\ \\ Q_s = 82

Thus; the Cournot-Nash equilibrium, Simon's production is 82 units

3 0
3 years ago
Which one of the following statements concerning interest rates is correct?a. Savers would prefer annual compounding over a mont
ryzh [129]

Answer:

The correct answer is letter "C": The effective annual rate equals the annual percentage rate when interest is compounded annually.

Explanation:

Interest Rate is the cost of borrowing money, expressed as a percentage of the loan amount. Interest rates are the primary yardsticks for measuring how much return lenders will get.

The effective annual interest rate is a way of restating the annual interest rate so that it takes into account the effects of compounding. Using the effective annual interest rate helps us understand how differently a loan or investment performs if it compounds annually, semiannually, monthly, or in any other time frame. If compounded annually, the effective interest rate equals the annual percentage rate.

8 0
3 years ago
Which business document is a contract that defines the tasks, time frame, and deliverables that a vendor must perform for a clie
Aleonysh [2.5K]
The statement of work is <span>a contract that defines the tasks, time frame, and deliverables that a vendor must perform for a client.
There are several things that will be written in the statement of work in order to manage the deal, such as the name of the project, the timeline for the project, the project handler, the delivery method, etc.</span>
6 0
3 years ago
Henrietta Marston plans to retire in the year 2050. She is considering a fund that will be more aggressive now and become more c
nadya68 [22]

Atnswer:

b. lifecycle fund

Explanation:

as from now to 2050 are still remaining 31 years, the money invested is able to go under different risk profiles, looking for getting the maximun return, the lifecycle fund is an excellent choice, it is because this kind of strategies changes according the risk of its costumer changes. it is expected to have during the first years a high exposition to risk such as equity or derivatives, and the more age of the costumer the lower risk profile, so the closer to 2050 the more expected investment into low risk assets, such as fixed income (this is made for having the less losses possible)

7 0
3 years ago
In markets characterized by oligopoly,
Tju [1.3M]

Answer:

d. the oligopolists earn the highest profit when they cooperate and behave like a monopolist.

Explanation:

An oligopoly is when there are few large firms operating in an industry.

When oligopoly firms come together and agree to set a price, they are known as cartels and are acting as a monopoly. Firms in a cartel earn the highest profit because they act as a monopoly compared to when they aren't in a cartel and each firm sets their own prices to maximise profit. In a case where firms in an oligopoly do not form a cartel, they engage in price wars and other forms of competition which might make firms earn lower profits compared to when they are in a cartel.

Collusive agreements aren't always binding. Firms might have incentives to cheat on the agreement if the payoff from cheating is higher than not cheating.

I hope my answer helps you.

4 0
3 years ago
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