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Eco 2023 Paige Homework #11 1
Eco 2023 Paige
Homework #11
1. Give three examples of artificial barriers to entry. Why do artificial barriers create problems for consumers? (20 pts)
- Describe the problems faced when using a concentration ratio. (20 pts)
- Find a site on-line that discusses an oligopoly model or models. Provide the link and give a brief description. (20 pts)
- The following firms are all the firms in the industry, listed in order of sales.
Firm A 18,000 Firm E 2,500
Firm B 14,000 Firm F 2,000
Firm C 7,000 Firm G 1,600
Firm D 3,700 Firm H 1,200
Find the HHI. Is this a highly concentrated industry or not? (15 pts)
- What are the three ways firms could openly cooperate? (15 pts)
- For the below game theory matrix, identify which cell is the Nash equilibrium and which cell is the joint profit maximization cell. (10 pts)
|
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Firm A sets competitive P
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Firm A sets monopoly P |
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Firm B sets competitive P
|
Firm A makes $100,000 Firm B makes $100,000 |
Firm A makes $ 20,000 Firm B makes $150,000 |
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Firm B sets monopoly P
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Firm A makes $150,000 Firm B makes $ 20,000 |
Firm A makes $120,000 Firm B makes $120,000 |
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