ps9f06 - 1 Question 9 page 421 in the book parts a and...

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UNIVERSITY OF WISCONSIN Economics 101 – Fall 2006 Problem Set 9 Due on December 11 at 2:30pm in your TA’s mailbox Please be sure to include (1) your name, (2) your teaching assistant’s name, and (3) your section time on your answers. Please staple pages together. Also note that late homeworks will not be accepted. Remember that you can help each other but each student has to hand a hand-written solution of the problem set. (This is a short problem set so that you can have to time to prepare for the final)
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Unformatted text preview: 1. Question 9, page 421 in the book parts a and b (DON”T DO part c) 2. Question 6, page 469 in the book Notice that MC 1 = MC 2 =60 Do first parts a) to d) and then continue with the following questions e) Suppose that MC 1 = 60 but MC 2 =30. Compute the new Cournot-Nash equilibrium. f) If MC 1 = 60, MC 2 =30 and the firms form a cartel, how much should they agree to sell in order to maximize price and at what price? Does any of the two firms have incentives to cheat on this agreement?...
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