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A small business which produces plastic vacuum-suction covers for round household dishes has a monopoly that is protected by a utility patent. the market demand curve for this product is estimated to be Q=6009-25P where Q is the number of plate covers per year and P is in dollars. Cost estimation processes have determined that the firm's cost function is represented by TC=120+2500Q-0.25*Q(2).
a. What is the profit-maximizing price and output level. Solve this algebraically for equilibrium P and Q and alos plat the MC, D and MR curves.
b. What profit do you expect that the firm will make in the first year?
c. Do you expect this profit level to continue in subsequent years. Why or why not?
where P is the price in cents per kilo and Q is the quantity in millions of kilos. Canada is a small producer in the world chick pea market, where the current world price (which will not be affected by anything we do) is 60 cents per kilo. The Gov..
The best level of output for a monopolist in the short run is 500 units and is MR=MC. At this point Q=500, P= $11 and ATC= $8, so that the monopolist earns a profit of $3/per unit and a total profit of $1,500. Suppose that the AFC of the monopolis..
the supply curve for product x is given by qxs -340 10px .a. find the inverse supply curve.p qb. how much surplus
FULL KARMA FOR COMPLETE RESPONSES. In an infinitely repeated game between two firms, suppose that each earns a payoff of 20 if they collude on price and 20 if they compete on price. If one firm sets the collusive price and the other "cheats", the ..
b) What will be the firm's profit with perfect price discrimination c) To implement perfect price discrimination you will have to use salespersons. What is the maximum amount total you will spend on salespersons
Campus Bookstore is the only textbook supplier in the town, a profit-maximizing business. Assume that the marginal and average total cost for each book is $25. Customer Reservation Price Total Revenue Marginal Revenue A 70 B 65 C 60 D 55 E 50 F 45..
Luxembourg imports a good at a world price of $10 each. The domestic supply curve is S = 50 +5P where P is in Ecu and 1 Ecu = $1. Demand curve is D=400-10P. Draw demand and supply curves for this good and indicate how much it is imported
Consider two duopolists whose cost functions are Ci = 10qi, i = 1, 2, where Ci and qi are their costs and outputs, respectively. The two duopolists have identical products and face a market demand function
firm had demand function given by Qd=1000-10p. Its cost function given by C= 150 +20 Q A- write an equation for the inverse demand function. B- write an equation for the profit function C-if the firm wants to maximize its sales revenue.
The InterCell Company wants to participate in the upcoming World Fair. To participate, the firm needs to spend $1 million in year zero to develop a showcase. The showcase will produce a cash flow of $2.5 million at the end of year one.
Test the intercept estimate for significance at the 95 percent confidence level. If Proposition 103 has no impact on auto insurance premiums in any given county, what percent of voters do you expect will vote for the proposition
On the left tab under Publications, go to the Interactive Data Tables. Select National Income and Product Accounts. examine all four components of GDP (C, I, G, and Xn). Which of these four components of AD declined the most during the 2007 and 200..
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