12. The following payoff matrix represents the long-run payoffs for two duopolists faced with the option of buying or leasing buildings to use for production. Determine whether any dominant strategies exist and whether or not there is a Nash equilibrium.

Firm 1
Lease
Building Buy
Building
Lease F1 = 500 F1 = 750
Firm 2 F2 = 500 F2 = 400

Buy F1 = 300 F1 = 600

F2 = 600 F2 = 200

13. Suppose Market Demand is given by the demand function: . Suppose Marginal Cost is constant at MC=0. Find the Market Equilibrium price, quantity, and total profits to all firms in the market for each of the different market structures below

a. Monopoly

b. Stackelberg Duopoly

c. Cournot Duopoly

d. Pure Competition

14. Suppose There are three farmers (Farmer A and Farmer B and Farmer C). The current zoning allows the land to be used for any purpose. Farmer A has chosen Pig Farming. A Pig Farm will earn $50,000 profit, every year, forever.

a. Assume the interest rate is 10% per year. Using a present value equation--
(PV = Y/(1+r)n
What is the Pig Farm worth?

b. Suppose the next best use of Farmer A's property is residential, where it could earn $20,000 per year. What is the minimum one-time payment Farmer A would accept to agree to restrict his land for residential use forever?

c. Why would Farmer B agree to pay 60% of this cost (from question 14-b) and Farmer C would only pay 40%?

Suppose two competitors, Coa, Inc., and Han, Inc., are locked in a bitter pricing struggle in the aluminum industry. In the limit pricing payoff matrix, Coa can choose a given row of outcomes by offering a limit price ("up") or monopoly price ("down"). Han can choose a given column of outcomes by choosing to offer a limit price

1. In a Nash equilibrium,
each player has a dominant strategy.
no players have a dominant strategy.
at least one player has a dominant strategy
players may or may not have dominant strategies.
the player with the dominant strategy will win.
2. Nash equilibria are stable because,

Please help with the following problem.
Two players, Ben and Diana, can choose strategy X or strategy Y. If both Ben and Diana choose strategy X, each earns a payoff of $1000. If both players choose strategy Y, each earns a payoff of $200. If Ben chooses strategy X and Diana chooses strategy Y, then Ben earns $0 and Diana ea

I need help for those exercises, # 1 , # 2 and # 3ManagerialEconomics
I am using Economics for managers BOOK: ECO 550 STRAYER UNIVERSITY 2008 CUSTOM EDITION; ECONOMICS for MANAGERS: ISBN- 13: 978-0-558-03749-9

Need help with the problems in the attached document.
Book: ManagerialEconomics: Theory, Applications, and Cases, 7th edition. By Allen, Doherty, Weigelt, and Mansfield.

Do the firms in an oligopoly act independently or interdependently? Explain your answer.
A monopolistically competitive firm has the following demand and cost structure in the short run:
OutPut Price FC VC TC TR Profit/Loss
0 $90 $90 $0 _

Which fo the following statements is correct?
a) Managerial decisions are affected primarily by microeconomic forces.
b) Managerial decisions are affected primarily by macroeconomic forces.
c) Managerial decisions are affected by both microeconomic and macroeconomic forces
d) By and large, managerial decisions are not aff