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Determine the profit maximizing price and quantity
A firm has segmented its market into the following demand functions:
P1 = 500 – 50Q P2 = 500 – 20Q with a cost function: MC=AC =20 a. Determine the profit maximizing price and quantity and corresponding economic profits if the firm charges all customers the same price.b. Determine the profit maximizing prices and quantities and corresponding economic profits if it practices third-degree price discrimination.c. What are the conditions necessary for price discrimination to succeed?
Purchasing Power Parity (PPP): The exchange rate is determined by the relative purchasing power of currency withineach country. For example, if a product X costs Rs. 100 in I
describe returns to scale and give examples of each.
Another school of thought developed what is called loanable funds theory of interest. Among the principle economists who contributed to the development of loanable funds theory men
Q. Distribution of income? Distribution:Distribution of income reflects the process by which real output of services and goods produced by the economy is allocated to different
1. The total demand (marginal benefit) curve for visiting the Great Barrier Reef is as follows: Price = 5000+100*Fish Biomass (tons per square mile) -10*Number of Trips. a. Do
International Monetary Fund: The International Monetary Fund (IMF), the World Bank and the International Trade Organisation were conceived at the Brettonwoods Conference in Ju
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
Structure of the IMF: The Central office of the IMF is in Washington DC, USA. It has 184 members. It is affiliated to the UNO. The highest authority of the IMF is the Board of
is south africa''s economic system now more allocative efficient
What happens to the market for cchicken wings if the price of beer increases?
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