Fezzes is perfectly competitive, Managerial Economics

Assignment Help:

The  fez is the typical Arabic hat in the shape of a short red cylinder. Historians believe it was manufactured in the city of Fes, in Morocco, during the 17th century. It has been used as a head cover of the Arabic world for centuries and was also adopted by the Ottoman Empire as part of its military uniform. The fez is still the most ordinary hat in North Africa and the Middle East; the hat was banned at the starting of 20th century in Turkey. Suppose that the city of Marrakech in Morocco has a daily demand for fezzes given by:

1800_aa.png

where Q is the total amount of fezzes formed.

a) Obtain the equilibrium price and quantity supposing that the market for fezzes is a monopoly.

b) Obtain the equilibrium price and quantity supposing that the market of fezzes is perfectly competitive.

 

 


Related Discussions:- Fezzes is perfectly competitive

Find out lowest efficiency wage and value , A risk-neutral agent's working ...

A risk-neutral agent's working life has two periods. In each period, the agent can provide high effort (at personal cost $2,000) or low effort (at zero personal cost). In a given p

ECONOMIC THEORY, How does economic theory contribute to managerial decision...

How does economic theory contribute to managerial decisions?

Demand curve, Plot the demand schedule and draw the demand curve for the da...

Plot the demand schedule and draw the demand curve for the data given for Marijuana in the caseabove.

Business, How can a firm''s security policies contribute and relate to the ...

How can a firm''s security policies contribute and relate to the six main business objectives.give example

Elasticity of demand, a bus operates two routes,one to harare and another o...

a bus operates two routes,one to harare and another one to johanesburg.the company analyst estimated that the elasticity of demand for joburg is 0.9 while for harare is 2.the compa

Manegerial discretion, How relevent is managerial dicretion in developing c...

How relevent is managerial dicretion in developing countries?

Factors affecting the total market demand, Factors affecting the total mark...

Factors affecting the total market demand These are broadly divided into the determinants of demand and conditions of demand. (a)      Own price of the product This

Functions of commercial banks, Functions of Commercial Banks In modern...

Functions of Commercial Banks In modern economy, commercial banks have the following functions: i.     They provide a safe deposit for money and other valuables. ii.

Eceonomic therios, Ask questiHow does economic theory contribute to manager...

Ask questiHow does economic theory contribute to managerial decisions? on #Minimum 100 words accepted#

The income of landowners in every country, In Home and Foreign there are 2 ...

In Home and Foreign there are 2 factors of production, land & labor, used to produce only one good. The land supply in every country and the technology of production are exactly th

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd