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  • Assignment 2-Answer Key

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    Sanjana Garg
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    This document contains the answer keys for Assignment 2. It provides the answers to 8 questions, giving quantitative values for quantities (Q), prices (P), profits, deadweight loss, and quantities supplied and demanded. For question 7, it gives the dominant and Nash equilibrium strategies for two players, along with their predicted payoffs. Question 8 provides formulas for quantity supplied and demanded at different prices.

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    This document contains the answer keys for Assignment 2. It provides the answers to 8 questions, giving quantitative values for quantities (Q), prices (P), profits, deadweight loss, and quantities supplied and demanded. For question 7, it gives the dominant and Nash equilibrium strategies for two players, along with their predicted payoffs. Question 8 provides formulas for quantity supplied and demanded at different prices.

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    © All Rights Reserved
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    13 views1 page

    Assignment 2-Answer Key

    Uploaded by

    Sanjana Garg
    This document contains the answer keys for Assignment 2. It provides the answers to 8 questions, giving quantitative values for quantities (Q), prices (P), profits, deadweight loss, and quantities supplied and demanded. For question 7, it gives the dominant and Nash equilibrium strategies for two players, along with their predicted payoffs. Question 8 provides formulas for quantity supplied and demanded at different prices.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    ASSIGNMENT 2- Answer Keys

    1.
    a. Q=45, P=55 and Profit = 2025

    b. Deadweight loss = 2025/2

    c. Q= 90 and P= MR

    d. P1 = 70 and Q1 = 30; P2 = 40 and Q2-Q1 =30

    2.
    a. Q= 14, P =8

    b. Qp = 9/2, Pp = 8; Qs= 19/2; Ps = 8

    c. Compare the answers of a and b and decide

    3. Pp = 18, Pc = 18 and Price of Bundle= 20

    4. Q1=Q2= 600, P = 7/2

    5. Q1= 27/2, Q2= 27/4, P =39/4

    6. Q1=Q2 = 180/2, P=45

    7.
    a. Dominant strategy of both palyers is {Reveal}

    b. Nash Eq = {Reveal, Reveal} and predicted score in exam (payoffs) are {Jeremy
    =80, James =87}
    8.
    a. Qp= (7*104)/4
    b. Qs= (7*104)/4.43
    c. Price changed from 5.1 to 5.7. Hint: For efficiency read the book carefully

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