Consider a homogeneous-product duopoly where each firm initially produces at a constant marginal cost of $200 and there are no fixed costs. determine what would happen to each firm’s equilibrium output and profits if firm 2’s marginal cost increased to $210 but firm 1’s marginal cost remained constant at $200 in each of the following settings: a. cournot duopoly. firm 1's output and profits would increase. firm 2's output and profits would decrease. firm 2's output and profits would increase. firm 1's output and profits would decrease. there likely would be no change in output or profits. b. sweezy oligopoly. there likely would be no change in output or profits. firm 1's output and profits would increase. firm 2's output and profits would decrease. firm 2's output and profits would increase. firm 1's output and profits would decrease.

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

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