Question

A company introduces paper towels and glass cleaner packaged together and, to the surprise of many, makes a fortune! Eventually rivals follow suit. 1)The short-run initial price for each combo. unit is $ 3.50 2)SR initial ATC per unit is $__ 3)Initial quantity is 1.75 4)Initially (circle one, please) profit/loss per unit is $__ 5)Short-run total profit $ 6)The coefficient of elasticity between the reservation price, 80 100 150 where sales are zero units, and the short-run price (100q-Oq/average q) reservation P equilibrium Plaverage P) of the short-run initial demand curve equals 7)Eventual price for each combo. unit is $ 8) Eventual ATC per unit is $ 9) Eventually profit per unit is $ 10) Eventual long-run quantity is 11)The coefficient of elasticity between the long-run reserve. price and long-run price of the lesser demand curve (80q-Oq/average 9)/(reservation P-equilibrium Plaverage P) equals TC 100 which is less than/greater than (CIRCLE ONE PLEASE) the initial. P sr Plr TRsr TRI SRprofit LRprofit 195 80 150 170 180 145 220 120 50 | | | 5 280 95 40 | Circle the short run and then the long run level of output! answers:-80-20-20 -10 0 0 1.75 1.75 2 2 2.03 3.50 80 80 95 100 140 175 180 190 195 195 200 200 255 260 340 435 480 475

Please help me fill in the blanks from 3-11 and the table. The answer key is on the bottom for reference, in no particular order.

Answer 1

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