Q No.01 : A firm sells two products . The demand functions for the two products...
Q No.01 :
A firm sells two products . The demand functions for the two products are
q1 = 110 – 4p1 – p2
q2 = 90 – 2p1 – 3p2
where pj equals the price of product j and qj equals the demand (in thousands of units) for product j .
- Determine the price which should be charged for each product in order to maximize total revenue from the two products .
- How many units will be demanded of each product at these prices ?
- What is maximum total revenue expected to equal?
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Q No.01 :
A firm sells two products . The demand functions for the two
products...
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1. The demand and supply functions for two commodities are given by: Qd1 = 410 -...
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6. The quantity of a product demanded by consumers is a function of its price. The quantity of one product demanded may also depend on the price of other products. For example, if the only chocolate shop in town (a monoploy) sells milk and dark chocolates, the price it sets for each affects the demand of the other. The quantities demanded, q1 and q2, of two products depend on their prices, pi and p2, as follows: q1150- 2p1 - p2...
1. The demand and supply functions for two commodities are given by: Qd1 = 410 - 5P1 - 2P2 Qs1 = -60 + 3P Qd2 = 295 – P1 - 3P2 Qs2 = -120 + 2P2 where P = price , Qd = price , Qd = quantity demanded and Qs = quantity supplied. Determine the equilibrium price and quantity for these two commodities. a. Pa = 30; P2 = 75; Q1 = 50; Q2 = 20 b. P1 =...
4. -12 points LarCAApCalc2 13.5.040 Find p1 and p2, the prices per unit (in dollars), so as to maximize the total revenue R=x1P1 + x2P2 where xi and x2 are the numbers of units sold, for a retail outlet that sells two competitive products with the given demand functions. X1-3100-4p1 + 2p2, X2 2400 + 4p1-3p2 p2 = $ Need Help?Read It Talk to a Tutor Watch It 5. -12 points LarCAApCalc2 13.5.042 A corporation manufactures candles at two locations....
Two firms produce closely-related products and have marginal
costs MC1=10 and MC2=20. The market supplied by firm 1 has demand
Q1=100-2p1+p2, while 2's market has demand Q2=100+p1-2p2. The two
firms are engaged in Bertrand price competition.
Two firms produce closely-related products, and have marginal costs MC1-10 and MC2-20. The market supplied by firm 1 has demand Q1 = 100-2p1+P2, while 2's market has demand Q2=100+p1- 2p2. The two firms are engaged in Bertrand price competition. 3(a)What is the intercept of...
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