Suppose that two identical firms produce widgets and that they are the only firms in the market. Their costs are given by Upper C 1C1equals=6060Upper Q 1Q1 and Upper C 2C2equals=6060Upper Q 2Q2, where Upper Q 1Q1 is the output of Firm 1 and Upper Q 2Q2 is the output of Firm 2. Price is determined by the following demand curve: Pequals=27002700minus−Q where Qequals=Upper Q 1Q1plus+Upper Q 2Q2. Find the Cournot-Nash equilibrium. Calculate the profit of each firm at this equilibrium.

Which type of market are you in if your company, along with three other companies, controls 95 percent of the total music industry?

On january 1, vermont corporation had 40,000 shares of $10 par value common stock issued and outstanding. all 40,000 shares has been issued in a prior period at $20.00 per share. on february 1, vermont purchased 3,750 shares of treasury stock for $24 per share and later sold the treasury shares for $21 per share on march 1. the journal entry to record the purchase of the treasury shares on february 1 would include a credit to treasury stock for $90,000 debit to treasury stock for $90,000 credit to a gain account for $112,500 debit to a loss account for $112,500

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. during 2003, an auction house sold a sculpture at auction for a price of $10,211,500. unfortunately for the previous owner, he had purchased it in 2000 at a price of $12,177,500. what was his annual rate of return on this sculpture? (a negative answer should be indicated by a minus sign. do not round intermediate calculations and enter your answer as