Answer_Key_Homework_6

Answer_Key_Homework_6 - Econ 302 Homework#6 McLeod Due in...

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Econ 302 Homework #6 McLeod Due in class Friday, April 30th. Name ______________________________________________________ ID # ________________________________________________________ Instructions: Please Read Carefully Please print out this form. There should be six separate sheets of paper (including the cover sheet). After you have written your answers, please staple the six sheets together at the top left-hand corner. The first sheet is intended only as a cover sheet. Do not write anything on the first sheet except your name and ID #. Please answer each question on the page provided. If you need extra space, you may use the back of the sheet. There are 50 possible points on this homework assignment. You may work together, but you MUST WRITE UP YOUR OWN WORK and TURN IT IN, IN PERSON, AT THE BEGINNING OF CLASS on Friday, April 30th. Late homework will not be accepted. PLEASE STAPLE YOUR HOMEWORK!!
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1. (16 total points) Suppose there are two firms in a market who each simultaneously choose a quantity. Firm 1’s quantity is q 1 , and firm 2’s quantity is q 2 . Therefore the market quantity is Q = q 1 + q 2 . The market demand curve is given by P = 100 – 4Q. Also, each firm has constant
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This note was uploaded on 09/01/2010 for the course ECON 302 taught by Professor Kurrejamesantho during the Spring '08 term at Penn State.

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Answer_Key_Homework_6 - Econ 302 Homework#6 McLeod Due in...

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