In which city should the aglet factory locate

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Reference no: EM132201097

Question: During times of high demand for aglets, the demand curve (MRP curve) foraglet makers is given by P = 8 - Q. During low demand, the MRP curve is given by P = 6 - Q. Micropolis has a fixed number of aglet makers who inelastically supply labor, so the supply of aglet makers in Micropolis is given by Q = 3. Macropolis has a large number of workers who can easily retrain as aglet makers, so the supply of labor in Macropolis is given by P = 4. There is a 50% chance of high demand and a 50% chance of low demand. Compute the aglet factory's expected profitin Macropolis and Micropolis. In which city should the aglet factory locate?

Reference no: EM132201097

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