Daily Archives: June 12, 2021

Which stakeholders were represented in your project/study?

Criteria questions to ascertain the use of practice development as a complex intervention and its processes. Options for these criteria questions have not been included here, neither have the outcome and impact questions (Manley & Hardy, 2012).

Inclusion criteria: identifying practice development projects/initiatives

(a) Collaboration, inclusion, participation (CIP principles)

(i) Which stakeholders were represented in your project/study?

(ii) How were stakeholders engaged in your project/study?

(b) Ethics

(i) What ethical processes were used with stakeholders/participants in your project/study?

(c) Shared ownership/vision

(i) How did you develop shared ownership and a shared vision for your project/study?

(d) Facilitation

(i) Who were the project facilitators?

(ii) What approach to facilitation was used?

(e) Evaluation

(i) How was the project/study evaluated?

Which stakeholders were represented in your project/study?

riteria questions to ascertain the use of practice development as a complex intervention and its processes. Options for these criteria questions have not been included here, neither have the outcome and impact questions (Manley & Hardy, 2012).

Inclusion criteria: identifying practice development projects/initiatives

(a) Collaboration, inclusion, participation (CIP principles)

(i) Which stakeholders were represented in your project/study?

(ii) How were stakeholders engaged in your project/study?

(b) Ethics

(i) What ethical processes were used with stakeholders/participants in your project/study?

(c) Shared ownership/vision

(i) How did you develop shared ownership and a shared vision for your project/study?

(d) Facilitation

(i) Who were the project facilitators?

(ii) What approach to facilitation was used?

(e) Evaluation

(i) How was the project/study evaluated?

Distinguish between a scientific theory and a hypothesis.

What are the seven characteristics that all living things share? Give examples of each characteristic (try to come up with new examples not found in the bookl). What are cells? Distinguish between prokaryotic and eukaryotic cells. What roles do organelles serve? Understand the hierarchy of life on Earth from smallest to largest (from atom to biosphere). What is evolution? What did Linnaeus contribute to our modern system of grouping living organisms? What is biology? What is science? Define peer review and explain how it is important to the scientific process. Distinguish between a scientific theory and a hypothesis. What are the steps of the scientific method? Can you work through an example of how to form and test a hypothesis? What is meant when we say a hypothesis….

Show also that consumer surplus is $156.25.

Consider the BMI–ECN example of a patent race. Assume that demand for the new good is P = 100 − 2Q, and that each firm believes that it will be able to produce this good at a unit cost of c = $50. Assume further that the discount factor R is so small that each firm cares only about the one-period profit it will make. (Alternatively, assume that one period is of a very long duration, say, thirty years or more.) The probability that such a lab will be successful and actually produce a discovery is ρ = 0.8.

a. Show that if one firm is successful in introducing the product, it will have a monopoly price of $75, sell 12.5 units, and earn monopoly profits (before paying….

What is the current equilibrium price and quantity in the industry?

Two firms compete in a Cournot-type duopoly. The industry demand is given by P = 100 − 2Q. Each firm has a constant average and marginal cost of $60.

a. What is the current equilibrium price and quantity in the industry?

b. Suppose that one firm discovers a procedure that lowers its average and marginal cost to $50.

i. If the innovator does not license its product but simply competes as the low-cost firm in a Cournot duopoly, what will be the innovator’s profit?

ii. What will be the innovator’s profit if it licenses the technology to its competitor at a royalty rate of $10?

iii. Suppose instead that the innovator licenses the technology for a fixed fee. What is the highest fee that the non-innovator will be….

. Can there be “too much” R&D?

Let the inverse demand for a particular product be given by P = 250 − Q. The product is offered by two Cournot firms, each of which has a current marginal cost of $100. Both firms can invest a sum K to establish a research facility to develop a new process with lower marginal costs. The probability of success is ρ.

a. Assume that the new process is expected to have marginal costs of $70. Derive a relationship between K and ρ under which

i. neither firm establishes the research facility;

ii. only one firm establishes a research facility;

iii. both firms establish a research facility.

b. Can there be “too much” R&D? Illustrate your answers in a diagram with ρ on one axis and K on the….

What is the current profit-maximizing price per suit and what are the monopolist’s per-period profits?

In the text of this chapter we considered sleeping patents in the context of a process innovation. The same principles apply in the case of a product innovation. To see why, consider the following example: Assume that there are 100 aspiring Olympic swimmers whose tastes for low-water-resistance colored swimming suits are evenly distributed over the color spectrum from black to yellow. The “length” of this spectrum is normalized to be one unit. Each of these swimmers values the loss of utility from being offered swimming suits in other than their favorite color at $10 per unit of “distance.” Each swimmer will buy exactly one swimming suit per period provided that the full price for the suit—the price charged by the firm plus the value of utility loss if….

What is the Cournot equilibrium quantity for each firm, product price, and profit of each firm?

Consider a Cournot duopoly in which inverse demand is given by P = 120 − Q. Marginal cost of each firm is currently $60.

a. What is the Cournot equilibrium quantity for each firm, product price, and profit of each firm? Now assume that one of the firms develops a new technology that reduces marginal cost to $30.

b. If it keeps control of this innovation itself, what will be the new Cournot equilibrium outputs, product price, and profits of the two firms?

c. If it licenses the innovation to its rival at some per unit fee r, calculate the innovator’s profit as a function of r. What is the profit-maximizing value of r for the licensor?

What is the Cournot equilibrium quantity for each firm, product price, and profit of each firm? Now assume that one of the firms develops a new technology that reduces marginal cost to $30.

Consider a Cournot duopoly in which inverse demand is given by P = 120 − Q. Marginal cost of each firm is currently $60.

a. What is the Cournot equilibrium quantity for each firm, product price, and profit of each firm? Now assume that one of the firms develops a new technology that reduces marginal cost to $30.

b. If it keeps control of this innovation itself, what will be the new Cournot equilibrium outputs, product price, and profits of the two firms?

c. If it licenses the innovation to its rival at some per unit fee r, calculate the innovator’s profit as a function of r. What is the profit-maximizing value of r for the licenso

Assume that the price is p = $50. Show that the marginal consumer has basic valuation vM = 50/(0.4 + 6f 2).

Imagine that consumer valuations vi are distributed uniformly between 0 and 100. Each consumer will buy at most one unit of the good depending on his or her willingness to pay. However, that willingness to pay depends on the fraction f of population that buys the good. In particular, consumer i will buy one unit of the good only if (0.4 + 6f 2)vi ≥ p. Otherwise, consumer i buys zero.

a. Assume that the price is p = $50. Show that the marginal consumer has basic valuation vM = 50/(0.4 + 6f 2).

b. Show that at this price, two non-zero market equilibria are possible: one with f = 0.1905 and one with f = 0.906. Which, if either of these, is stable?