Problem 2. Consider a duopoly with identical firms with no fixed cost and marginal cost of c. Let the
inverse demand curve for the industry be p(Y ) = A − bY , where Y is the total industry output. Let y1 and
y2 be the output of each firm. Assume that the firms in the industry each choose quantity, and then let the
market determine the price they will receive.
(a) Compute the total market output, the price, the quantity for each firm, and the profit for each

firm, under Cournot competition. Make sure to start at the beginning, setting up each firm’s profit-
maximization problem and proceeding from there.

(b) Compute the total market output, the price, the quantity for each firm, and the profit for each firm, if
the firms collude and choose their quantities together to maximize total profits. Assume that they split
the total output evenly. Again, make sure to set up the joint profit-maximization problem and proceed
from there. [Hint: you will find that you cannot solve the system of two first-order conditions. Indeed,
you will find that the two first-order conditions are identical, leaving you with only one equation with
two unknowns. To solve this problem, simply take advantage of the assumption that they split the
market evenly, y1 = y2. Now you have two equations with two unknowns.]
(c) Now suppose that one firm sticks to the collusive quanity, while the other one cheats. Compute the
profit maximizing output of the cheater, the market price, and the profit for each firm.

Econ 100A, Fall 2019
Prof: Dan Acland

Problem Set #12
Page 2

(d) Using the results you have computed above, argue that the collusive agreement is not a Nash equi-
librium. In addition, argue that if firms have common knowledge of rationality (each knows that the

other is rational, and knows that the other knows they are rational, etc) the only Nash equilibrium is
for both firms to choose the Cournot equilibrium quantity.
(e) Again, using the results you have computed above, argue that this situation can be thought of as a
prisoner’s dilemma. (Recall that we characterized a prisoner’s dilemma as a situation in which agents
are unable to cooperate, even when to do so would maximize their individual payoffs, because the
private cost of cooperation is greater than the private benefit of cooperation.)

Question: State if an algorithm (satisfying the formal definition of an algorithm) which is guaranteed to find a solution exists or not for each of the following problems by filling the blanks with “Yes” (an algorithm guaranteed to find a solution exists) or “No” (an algorithm guaranteed to find a solution does not exist).

1. Finding the average height of a person in a group, given the height of each person in the group

2. Finding all factors of a finite integer

3. Finding if a triangle is scalene or not, when the coordinates of its vertices are given

4. Finding a path from the given start location to the given goal location in a finite maze (the number of junctions is finite and the length of path connecting any two junctions is also finite) that changes unpredictably at any time

An electron is constrained to the central perpendicular axis of a ring of charge of radius 2.3 m and charge 0.020 mC. Suppose the electron is released from rest a distance 0.056 m from the ring center. It then oscillates through the ring center. Calculate its period. (The electron is always much closer to the ring center than a radius.)

Define dumping. Differentiate the tree types of dumping which one is to be welcomed and which one is to be opposed and why?

SecuriCorp operates a fleet of armored cars that make scheduled pickups and deliveries in the Los Angeles area. The company is implementing an activity-based costing system that has four activity cost pools: Travel, Pickup and Delivery, Customer Service, and Other. The activity measures are miles for the Travel cost pool, number of pickups and deliveries for the Pickup and Delivery cost pool, and number of customers for the Customer Service cost pool. The Other cost pool has no activity measure because it is an organization-sustaining activity. The following costs will be assigned using the activity-based costing system:

The distribution of resource consumption across the activity cost pools is as follows:

Required:

Complete the first stage allocations of costs to activity cost pools.

In your opinion what are some strategies and approaches management can take when there is poor performance from the team due to management not knowing how to handle difficult situations?

9. The decomposition of N₂O₅is first order with a rate constant of 4.80 x 10^-4 s^-1at 45 ºC. If the initial concentration is

1.65 x 10^-2 M, what is the concentration after 825 s? What is the half life? How long would it take for the concentration of N₂O₅ to decrease to 1.00 x 10^-2 M from its initial value?

10. The following reaction has a K_c = 3.92 at 1200 Kelvin:     CO(g) + 3H₂(g) ⇌ CH₄(g) + H₂O(g)

At equilibrium, the reaction vessel contains 0.30 M CO , 0.10 M H₂ , and 0.020 M H₂O

Write the equilibrium constant expression. What is the [CH₄] at equilibrium? Calculate the K_p (for atm).

answers:

9. 0.0111 M, 24.1 min, 17.4 min

10. K_c = [CH₄][H₂O]         [CH₄] = 0.059 M     K_p = 4.04 x 10^-4

               [CO][H₂]

Madam Bose has been in business for many years as sole trader. His cash at hand on 1^st October, 2018 was N750,000 but there was no bank account.The following transactions took place during the month of October, 2018.

Oct 1   Opened bank account and paid in cash                                              N750,000

Oct 4   Rented premises and paid for 2 months by cheque                            N30,000

Oct 7   Bought furniture and fitting by cheque                                              N90,000

Oct 11 Purchased goods for sale by cheque                                                   N120,000

Oct 14 Cash sales                                                                                            N525,000

Oct 16 Received cheque from Badmus on account of September sales        N123,000

Oct 19 Paid cash into bank                                                                             N190,000

Oct 20 Purchased goods from Gabriel & sons on credit N150,000

Oct 20 Cash sales                                                                                            N111,250

Oct 26 Paid cash into bank                                                                             N111,250

Oct 28 Sold goods on credit to Stephens & co                                              N270,000

Oct 29 Paid Gabriel & sons on account by cheque                                        N75,000

Oct 30 Paid salaries by cash                                                                           N81,550

Oct 30 Paid electricity bill by cheque                                                             N13,500

Oct 31 Paid sundry expenses by cash                                                             N6,000

Required: Prepare the two-column cash book of Madam Bose Enterprises for the month of October 2018.

Travel to the following locations using Google Earth Pro, Google maps or any other mapping software of your choice. Describe the primary landform process in each area and speculate briefly how each area came to look the way it does today! (0.8 marks)

(a) 39º 16’ 53”S 175º 33’ 57”E

(b) 02º46’52”S 60º 40’ 09”W

(c) 37º59’36”N 73º23’01”E

(d) 30º24’08”N 58º16’41”W

Write a short reflection paper (1-2 paragraphs) explaining why having (and enforcing) a code of conduct is important in the accounting career field. Make this a scholarly paper, properly formatted, spell checked, etc. This must be more than a "in my opinion" type of analysis.  

Please write queries based on the following requirements using DML In-Class Data Set. For each question, you are required to submit 1) SQL query code; 2) a screen shot of your query result.You should copy and paste your SQL query code to the word document instead of taking a screenshot of your code. Missing either part for each question will result in 0 for this question.

8.List the warehouse number and the average unit price for warehouses other than number 2.

9.List the stored part information for SG parts stored in warehouse 2 or 3.

10.List the part number and part description for each part with letter D(or d) in the part_description. Rank your results in ascending order on itemclass and then descending order on units_on_hand.

11.List the average unit price among all the parts. Rename the column as AVG_UNIT_PRICE

12.List the part number and part description for each part with nine characters or ten characters in the part_description. Rank your results in ascending order on part number.

13.Find the itemclasses and the number of parts under each class. Only show those classes with at least3 types of parts.

14.List the stored part information for SG parts or parts with more than 60 units stored in warehouse 3.

15.List the number of different part stored in each warehouse, only include those warehouse with at most3parts.

Part 2. Monty Hall problem:

Given below is the description of the problem.

Suppose you're on a game show and you're given the choice of three doors.

Behind one door is a car; behind the others, goats. The car and the goats were placed randomly behind the doors before the show.

The rules are:

After you have chosen a door, the door remains closed for the time being. The game show host, Monty Hall, who knows what is behind the doors, now has to open one of the two remaining doors, and the door he opens must have a goat behind it. If both remaining doors have goats behind them, he chooses one randomly.

After Monty opens a door with a goat, he will ask you to decide whether you want to stay with your first choice or to switch to the last remaining door. Imagine that you chose Door 1 and the host opens Door 3, which has a goat. He then asks you "Do you want to switch to Door Number 2?" Is it to your advantage to change your choice?

NOTES:

1. The player may initially choose any of the three doors (not just Door 1).
2. The host opens a different door revealing a goat (not necessarily Door 3).
3. The host gives the player a second choice between the two remaining unopened doors.

• Write Python code to solve the Monty Hall problem. Simulate at least a thousand games using three doors for each strategy and show the results in such a way as to make it easy to compare the effects of each strategy.

10.13 LAB*: Warm up: Online shopping cart (Part 1)

(1) Create three files to submit:

• ItemToPurchase.h - Class declaration
• ItemToPurchase.cpp - Class definition
• main.cpp - main() function

Build the ItemToPurchase class with the following specifications:

• Default constructor
• Public class functions (mutators & accessors)
• SetName() & GetName() (2 pts)
• SetPrice() & GetPrice() (2 pts)
• SetQuantity() & GetQuantity() (2 pts)
• Private data members
• string itemName - Initialized in default constructor to "none"
• int itemPrice - Initialized in default constructor to 0
• int itemQuantity - Initialized in default constructor to 0

(2) In main(), prompt the user for two items and create two objects of the ItemToPurchase class. Before prompting for the second item, call cin.ignore() to allow the user to input a new string. (2 pts)

Ex:

Item 1
Enter the item name:
Chocolate Chips
Enter the item price:
3
Enter the item quantity:
1

Item 2
Enter the item name:
Bottled Water
Enter the item price:
1
Enter the item quantity:
10

(3) Add the costs of the two items together and output the total cost. (2 pts)

Ex:

TOTAL COST
Chocolate Chips 1 @ $3 = $3
Bottled Water 10 @ $1 = $10

Total: $13

code ---------------------------------------------------------

#include <iostream>
using namespace std;

#include "ItemToPurchase.h"

int main() {

/* Type your code here */

return 0;
}