Calculate aggregate cs from consuming bottled water

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Reference no: EM133389360

Assignment:

Adesua's demand for bottled water is given by the equation ?? = 8 - 0.5??. Bo's demand is Q = 6 - P.

1. Calculate aggregate CS from consuming bottled water at $10/bottle. Illustrate graphically.

2. Determine how many bottles of water will be purchased at a price of $4/bottle. Illustrate graphically.

3. Calculate aggregate TB from consuming bottled water at $4/bottle. Illustrate graphically.

4. Calculate aggregate CS from consuming bottled water at $4/bottle. Illustrate graphically.

5. If 2 producers make up the supply side of the market, producer 1's marginal cost equation is ????% = 2.5 + 2??% and ????& = 2.5 + 1.5??&, find and graph the equation for aggregate MC.

6. What is the MC of the 10 th bottle of water?

7. How many bottles of water will be produced if the market price is $10/bottle?

8. Calculate PS for the market as a whole as well as for each producer from selling bottled water at a price of $4/bottle.

Reference no: EM133389360

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