Company Omicron and Company Pi are the only sellers of a good with no close substitutes. They are each considering whether to maintain or raise their prices. They project the following daily profit payoff scenarios:

Company Pi
Company Omicron Increase Price Maintain Price
Increase Price $80, $180 $70, $280
Maintain Price $60, $80 $50, $230


a. Does Company Omicron have a dominant strategy to maintain their price, increase their price, or no dominant strategy?
b. Does Company Pi have a dominant strategy to maintain their price, increase their price, or no dominant strategy?
c. Assuming no cooperation, what will the profit be for each firm?
d. The government offers a $30 subsidy to the firms if they do not increase their prices. Draw a new payoff matrix reflecting the subsidy.
e. Assuming no cooperation, what will the profit be for each firm after the subsidy?

Answers

Answer 1

Answer:

Explanation:

a. Company Omicron does not have a dominant strategy as its profit depends on the strategy chosen by Company Pi.

b. Company Pi does not have a dominant strategy as its profit depends on the strategy chosen by Company Omicron.

c. If neither company cooperates and both choose to increase their prices, Company Omicron would earn $70 in profit while Company Pi would earn $80. If Company Omicron increases its price while Company Pi maintains its price, Company Omicron would earn $180 in profit while Company Pi would earn $50. If Company Omicron maintains its price while Company Pi increases its price, Company Omicron would earn $80 in profit while Company Pi would earn $230. If both companies maintain their price, Company Omicron would earn $50 in profit while Company Pi would earn $230.

d.

Company Pi

Company Omicron Increase Price Maintain Price

Increase Price $110, $210 $100, $310

Maintain Price $90, $80 $80, $260

e. If neither company cooperates and both choose to increase their prices, Company Omicron would earn $100 in profit while Company Pi would earn $110. If Company Omicron increases its price while Company Pi maintains its price, Company Omicron would earn $210 in profit while Company Pi would earn $80. If Company Omicron maintains its price while Company Pi increases its price, Company Omicron would earn $80 in profit while Company Pi would earn $260. If both companies maintain their price, Company Omicron would earn $50 in profit while Company Pi would earn $230. With the subsidy, both companies would earn $80 in profit if they maintain their price.


Related Questions

how might americ an history be different if France had sold new orleans and allowed American farmers to use the Mississippi river but kept the rest of Louisiana's territory

Answers

Answer:

If France had sold New Orleans to the United States but kept the rest of the Louisiana Territory, it is possible that American history would have played out very differently. The Louisiana Purchase, which included not just New Orleans but the entire Louisiana Territory, more than doubled the size of the United States and gave the country control of the Mississippi River and the port of New Orleans, which were crucial for American trade and westward expansion. Without the Louisiana Purchase, the United States might have struggled to expand westward and might have faced conflicts with France or other European powers over control of the Mississippi River. Additionally, the Louisiana Purchase helped to fuel the institution of slavery in the United States, as the acquisition of new territory led to the spread of slavery into new areas. If France had only sold New Orleans, the spread of slavery into the western territories might have been slower or more limited.

1. List and briefly explain the rules that should apply to the use of elevators when responding to a fire incident in a high-rise building.

2.In your own words, explain Stack Effect as it relates to high-rise buildings.

3. You have responded to a fire incident in a high-rise building. When you arrive the Incident Commander tasks you with the assignment of Lobby Control. What are your duties?

Answers

Answer:

Explanation:

Rules for the Use of Elevators during a Fire Incident in a High-Rise Building:

First and foremost, the priority should be given to the evacuation of people, and elevators should not be used for this purpose during a fire incident unless authorized by the fire department.

Elevators should be used only by trained firefighters or building personnel, and only for specific purposes, such as search and rescue, access to the fire floor, or transport of equipment.

The use of elevators during a fire should be restricted to the non-fire floors, and firefighters should never use the elevator to go up to the fire floor.

Before using an elevator, the firefighter should check the elevator lobby for any signs of smoke, heat, or fire, and if there are any such signs, the elevator should not be used.

The firefighter should ensure that the elevator call buttons are in the "fire service" mode, which will prevent the elevator from stopping at any floor other than the designated floor.

The firefighter should carry a radio or communication device to stay in contact with the Incident Commander and other firefighters, and should inform the Command Post of their location and intended use of the elevator.

Finally, if an elevator becomes inoperative, it should be properly marked and reported to the Command Post.

Stack Effect is a natural phenomenon that occurs in high-rise buildings due to the difference in temperature and pressure between the inside and outside of the building. In simpler terms, as the warm air inside the building rises and escapes through openings such as windows and ventilation shafts, it creates a vacuum at the lower levels, which sucks in cold air from the outside. This creates a continuous flow of air from the bottom to the top of the building, which is known as the stack effect. In a fire incident, the stack effect can cause smoke and toxic gases to rise to higher levels of the building, making it difficult for occupants to evacuate and for firefighters to perform their duties.

Lobby Control is a critical role during a fire incident in a high-rise building. The duties of a firefighter assigned to Lobby Control include:

Controlling the access of people to the building, especially the fire floor and floors above the fire.

Directing occupants to safe areas or exit stairwells, and ensuring that they do not use the elevators or other areas that may be unsafe.

Coordinating with the Incident Commander and other firefighters to provide information on the conditions inside the building, such as the location and extent of the fire, the presence of smoke or toxic gases, and the status of the evacuation.

Keeping track of the movement of people and firefighters in and out of the building, and maintaining an accurate record of the occupants who have been evacuated or rescued.

Providing assistance to occupants who may need medical attention or other support, and coordinating with emergency medical services if necessary.

Answer:

Explanation:

Elevators should be used only by trained firefighters or building personnel, and only for specific purposes, such as search and rescue, access to the fire floor, or transport of equipment.

The use of elevators during a fire should be restricted to the non-fire floors, and firefighters should never use the elevator to go up to the fire floor.

The slope field for a certain differential equation is shown above. Which of the following statements about a solution y = f(x) to the differential equation must be FALSE?

A) The graph of the particular solution that satisfies f(1)=−1 is concave down on the interval 0
B) The graph of the particular solution that satisfies f(−1)=1 is concave up on the interval −1
C) The graph of the particular solution that satisfies f(0)=0 is concave up on the interval −1
D) The graph of the particular solution that satisfies f(0)=0 has a point of inflection at x=0

Answers

The statement about a solution y = f(x) to the differential equation that must be FALSE is C) The graph of the particular solution that satisfies f(0)=0 is concave up on the interval −1.

How to explain the graph

Based on the information, the graph of the specific solution to the equation f(1)=1 is concave downward on the range 0–1.

Concave up on the interval 1, the graph of the particular solution that fulfills f(1)=1.

Therefore, the graph of the particular solution that satisfies f(0)=0 is concave up on the interval −1 is false.

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