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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?
#quesUse a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labor:(a) an increase in immigration (b) more wom
Major air pollutants can be sub divided into 2 catexampleories: Inorganic gases and particular gases. (A) Inorganic gases 1. Carbon monoxide (CO) CO is a colourless, lethal gas
1. Define the concept of opportunity cost in your own words. Given an example from your own life of the opportunity cost of a decision (do NOT use classroom examples). Explain why
PEST analysis Political factors: The political factors include laws and regulations in the market and this influences the market activities. These laws and regulations a
Homer consumes only donuts and beer. When he consumes less than 10 beers, Homer would gladly drink one more. After drinking 10 beers, Homer is so drunk that he does not notice any
What two developments are demanding new ways of looking at the economic world in the 21st century? What kinds of sustainability questions do they raise? Two developments that
Pollutant Any substance, species produced either by a natural source or by human activity, which produces very adverse effect on the environment is called pollutant. Some commo
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why does the quantity of education change in the private universities much more responsive than salt as to changes in price?
Plot the demand schedule and draw the demand curve for the data given for Marijuana
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