The inverse-demand curve for oil in the Middle East is given by P = 20 – Q, where Q is measure in barrels and P is measured in U
SD. Saudi Arabia can produce barrels of oil for a constant marginal cost of $1, while Iran can produce barrels of oil for a constant marginal cost of $3. Solve for the unique Nash Equilibrium in the Middle Eastern oil market assuming that Iran chooses its production quantity before Saudi Arabia chooses its production quantity. Compare this to the simultaneous move duopoly (Cournot).
1 answer:
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set h=0 and solve for <span>t
</span>So: 0 = 32t - 16^2
<span>32t−16<span>t2</span>=0</span><span>16t(2−t)=0</span><span><span>t=2
</span></span>
Answer:
$231.67
Step-by-step explanation:
how you need to divide 589 to 3 and than you get 231.67
Answer:
5
Step-by-step explanation:
Answer:
$33 336
Step-by-step explanation:
Increase = 30 000 × 0.112
Increase = $3336
New salary = 30 000 + 3336
New salary = $33 336
Answer:
The sketch is carried out and the probabilities are calculated.
