according to material to answer questions
roxanne_
homework_9_due_november_21.docxHomework # 9. Due 11/21
Submit your answers on a one page, printed document, submitted in class.
Format: Single space, twelve point font, one inch margins.
Your full name and UB person id should be on the top of the page.
Use the entire page.
No handwritten homework’s.
Late homework’s shall not be accepted.
ONE EXTRA POINT FOR POSTING TO ePortfolio and attaching a copy of the posting to the homework
Assignment:
Page 360 & 361 of Parkin’s 12th Edition of Microeconomics discusses Oligopoly Games in Cellphone Service.
Discuss:
1) Explain how the market participants are using game theory to set prices and data plans.
2) What happens to the firms’ economic profit when the market for data reaches equilibrium?
3) What are the likely long term outcomes to the firms engaged in this line of business?
Make sure that you:
1) Introduce your topic.
2) Answer the questions.
3) Conclude and summarize your thought(s) on the subject.
