ECON 112 EXAM 3

Exam #3 Econ 112 SS16 1. Why do firms beneath absolute antagonism accept aught accumulation in the continued run? (5 pts) 2. In the altogether aggressive firm’s blueprint below, do the following: a. Draw a MR=P band that generates abbreviate run accumulation for the close (5 pts) b. Label the profit-maximizing abundance (5 pts) c. Show the breadth of accumulation (5 pts) d. Label the break-even amount (5 pts) e. Label the shut-down amount (5 pts) 3. Why do monopolies exist? (5 pts) 4. Using the monopolists blueprint below, do the afterward (*assume FC = $0): a. Show the accumulation maximizing abundance (5 pts) b. Show the accumulation maximizing amount (5 pts) c. Show cartel accumulation and announce negative, positive, or aught (5 pts) 5. Will the monopolist abide to accept bread-and-butter accumulation in the continued run? Explain. (5 pts) 6. Using the one-time-game adjustment cast below, do the following: a. Determine Yellow’s ascendant action (5 pts) b. Determine White’s ascendant action (5 pts) c. Determine the Nash Equilibrium (5 pts) d. If the bold were to be again 10 times, would egoistic firms accomplish the aforementioned accommodation as in a one-time-game? Explain. (5 pts)

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