Consider a homogeneous-product duopoly where each firm initially produces at a constant marginal cost of $200 and there are no fixed costs. determine what would happen to each firm’s equilibrium output and profits if firm 2’s marginal cost increased to $210 but firm 1’s marginal cost remained constant at $200 in each of the following settings: a. cournot duopoly. firm 1's output and profits would increase. firm 2's output and profits would decrease. firm 2's output and profits would increase. firm 1's output and profits would decrease. there likely would be no change in output or profits. b. sweezy oligopoly. there likely would be no change in output or profits. firm 1's output and profits would increase. firm 2's output and profits would decrease. firm 2's output and profits would increase. firm 1's output and profits would decrease.

Identify which of the twelve basic functions listed below fit the description given.

Suppose that two firms produce differentiated products and compete in prices. as in class, the two firms are located at two ends of a line one mile apart. consumers are evenly distributed along the line. the firms have identical marginal cost, $60. firm b produces a product with value $110 to consumers.firm a (located at 0 on the unit line) produces a higher quality product with value $120 to consumers. the cost of travel are directly related to the distance a consumer travels to purchase a good. if a consumerhas to travel a mile to purchase a good, the incur a cost of $20. if they have to travel x fraction of a mile, they incur a cost of $20x. (a) write down the expressions for how much a consumer at location d would value the products sold by firms a and b, if they set prices p_{a} and p_{b} ? (b) based on your expressions in (a), how much will be demanded from each firm if prices p_{a} and p_{b} are set? (c) what are the nash equilibrium prices?

:; )write a paragraph of two to three sentences and describe what will happen to a society that does not have a productive workforce?