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Category > Economics Posted 28 May 2017 My Price 5.00

You are the manager of a firm that manufactures front and rear windshieldsfor the automobile industry

You are the manager of a firm that manufactures front and rear windshieldsfor the automobile industry. Due to economies of scale in the industry, entryby new firms is not profitable. Toyota has asked your company and your onlyrival to simultaneously submit a price quote for supplying 100,000 front andrear windshields for its new Highlander. If both you and your rival submit alow price, each firm supplies 50,000 front and rear windshields and earns azero profit. If one firm quotes a low price and the other a high price, thelow-price firm supplies 100,000 front and rear windshields and earns a profit391Game Theory: Inside Oligopolyof $9 million and the high-price firm supplies no windshields and loses $1million. If both firms quote a high price, each firm supplies 50,000 front andrear windshields and earns a $7 million profit. Determine your optimal pricingstrategy if you and your rival believe that the new Highlander is a “specialedition” that will be sold only for one year. Would your answer differ if youand your rival were required to resubmit price quotes year after year and if, inany given year, there was a 50 percent chance that Toyota would discontinuethe Highlander? Explain.17. At a time when demand for ready-to-eat cereal was stagnant, a spokespersonfor the cereal maker Kellogg’s was quoted as saying, “ . . . for the past severalyears, our individual company growth has come out of the other fellow’shide.” Kellogg’s has been producing cereal since 1906 and continues toimplement strategies that make it a leader in the cereal industry. Suppose thatwhen Kellogg’s and its largest rival advertise, each company earns $0 billionin profits. When neither company advertises, each company earns profits of$8 billion. If one company advertises and the other does not, the comp

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Alpha Geek
(8)
Status NEW Posted 28 May 2017 08:05 AM My Price 5.00

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