Stackelberg Equilibrium , Marginal costing and Monopoly

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Suppose market demand is given by Q = A – p. There are two sellers of the good, each with marginal cost

c.

a) Find the Stackelberg (leader/follower) output equilibrium. How much is sold by each firm?

b) Suppose alternatively the firms make simultaneous price offers. At what price will consumers buy?

c) Now suppose that firms must sink a cost of S if they are to produce. At the first stage they make a

simultaneous choice of whether to sink this cost. If both firms pay this cost, at the second stage they play

the game in b). If only one firm enters at the first stage, at the second stage it sets the monopoly price. In a

pure-strategy equilibrium, what price is charged?

Sample Solution

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Defective Adults Assignment

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Directions

Write a short, organized paper explaining, in your own words, the notion of the blank slate and expressing your understanding of some of the arguments that we are not blank slates (found in the Human Nature and the Blank Slate video). Finally, you will describe the notion that children are defective adults and contrast it with the point that childhood has a purpose and that the purpose has to do with making us able to adapt flexibly to the particular environments that we live in.

Your work should be entirely in your own words. Do not use quotes. You can mention outside sources as support for your claims, but put those claims into your own words.

Organize your work into paragraphs and, possibly, into separate sections with headings.
Use complete sentences and correct grammar (word usage, punctuation, capitalization, etc.).
Use examples to illustrate your points.
Resources

These articles and videos should provide you with the information that you need in order to complete this assignment:

Blank Slate
Defective Adults
Human Nature and the Blank Slate (video)
What Do Babies Think? (video)
Criteria

Your work will be judged on these criteria and you will get feedback on how well you did on these:

Define the blank slate notion.
Any acceptable work will include a clear definition of the blank slate notion, with an example of what blank slate theorists believe about why people are the way they are.
Analyze arguments that we are not blank slates.
Solid work here will include an explanation of at least one of Pinkers arguments that we are not blanks slates and make clear why a blank slate theorist would expect something to happen that in fact does not happen. These should be taken from Pinkers common sense arguments, the point about cultural universals, and/or the point about twin studies.
Any acceptable work will include an explanation of at least one of Pinkers arguments that we are not blank slates.
Explain what having a relatively long period of dependence on caregivers does for human children in terms of their ability to adapt flexibly to their unique environments.
Solid work here will explain the children are defective adults notion and explicitly point out why it is important for us to have a period of development during which children acquire their abilities, attitudes, behaviors, and so on. That development will be explicitly tied to childrens need to adapt to a wide range of different environments. Ideally, the work will explain how things would be different if we were entirely programmed by our genes and why this would make us much less able to adapt to changing environments.
Any acceptable work will talk about the purpose of childhood as a period of adaptation to the childs specific environment.

Max Weber and Symbolic Interaction Mini Paper

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In a mini three-page research paper, please tell me how Max Weber developed and used the theory of Symbolic Interactionism, and what he contributed to the field of sociology that still makes Max Weber important to Sociology today. Please do not focus on Webers biography, but on his contributions to Sociology, and especially Symbolic Interactionism. (You will have to dig deep on this one, since several names will come up in conjunction with this theory, but I want you to focus on Weber). You must have at least two sources. If you use your text book, you still need two additional sources and Wikipedia cannot be one of your sources. Since you must use two sources, you must also attach a bibliography page to your mini paper for a total of four pages.

Profit maximization, Optimal Profit

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There are 100 patients who could benefit from a new drug, Tipilor, manufactured by Zifer. Patient i has

willingness to pay i, i=1,…,100. Ignore fixed costs and assume marginal cost, c, is constant. a) What is the

profit maximising price and resulting profit? b) Now assume all patients have insurance which means they

only pay 10% of the price as a co-payment. What is the profit maximising price and resulting profit? c)

Zifer sets up a charity to cover the co-payment for poor people. Patients 1, 2, …, 50 are considered poor.

What is the profit maximising price and resulting profit? d) For c = 10, calculate optimal profit in a), b) and

c) and conclude whether setting up the charity is profitable.

Sample Solution

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