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Kaplan University MT445 unit 5 assignment

Question # 00016273
Subject: Economics
Due on: 06/21/2014
Posted On: 05/27/2014 02:47 PM

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Unit 5 Assignment

Student Name:

Please answer the following questions. Submit as a Microsoft Word® document to the Dropbox when completed.

1. Do the firms in an oligopoly act independently or interdependently? Explain your answer.

2. A monopolistically competitive firm has the following demand and cost structure in the short run:

Output Price FC VC TC TR Profit/Loss

0 $90 $90 $ 0 ____ ____ ________

1 80 ____ 40 ____ ____ ________

2 70 ____ 80 ____ ____ ________

3 60 ____ 140 ____ ____ ________

4 50 ____ 220 ____ ____ ________

5 40 ____ 320 ____ ____ ________

6 30 ____ 440 ____ ____ ________

7 20 ____ 580 ____ ____ ________

a. Complete the table.

b. What level of output maximizes profit or minimizes loss?

c. Should this firm operate or shut down in the short run? Why?

3. Suppose that Wal-World and Tarbo are independently deciding whether to implement a new bar code technology. It is less costly for their suppliers to use one system and the following payoff matrix shows the profits per year for each company resulting from the interaction of their strategies.

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a. Briefly explain whether Wal-World has a dominant strategy.

b. Briefly explain whether Tarbo has a dominant strategy.

c. Briefly explain whether there is a Nash equilibrium in this game.

Directions for Submitting your Assignment

Complete your assignment in this Microsoft Word® document and save it as Username-MT445Assignment-Unit#.doc (Example:TAllen-MT445Assignment-Unit5.doc). Submit your file by selecting the Unit 5: Assignment Dropbox by the end of Unit 5.

Tags aignment unit mt445 university kaplan brieflyexplain aignment firm independently short output walworld unit tarbo dominant following document dropbox suppliers payoffmatrix profits file year costly shows itis selecting unit5 toimplement code technology company exampletallenmt445aignmentunit5docsubmit nash

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Kaplan University MT445 unit 5 assignment

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Preview: decision xxxxxx difficult xxxxxxxxx price and xxxxxx levels Oligopolists xxx to xxxxxx xxxxxxxxxxx about xxxxx demand by xxxxxxxx in behavior xxxx makes xxxxx xxxxxx actions xxxx predictable or xx assuming certain xxxxxxx by xxxxx xxxxxx 2 x monopolistically competitive xxxx has the xxxxxxxxx demand xxx xxxx structure xx the short xxx Output Price xx VC xx xx Profit/Loss x 90 90 x ____90____ 0 xxxxxxxxx 1 xx xxxxxx 40 xxxxxxx __80__ ___50_____ x 70 __90__ xx 170__ xxxxxxx xxxxxxxxxx 3 xx _____ 90______ xxx 230__ __180__ xxxxxxxxxx 4 xx xxxxxxxxxx 220 xxxxx __200__ ___110_____ x 40 ___90___ xxx 410__ xxxxxxx xxxxxxxx 6 xx ___90___ 440 xxxxx _180_ ___350____ x 20 xxxxxx xxx 670__ xxxxxxx ___530____ a xxxxxxxx the.....
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