![Suppose that, in this market, Carlos decides how many eggs per day he is going to produce, and then Elileen makes her decision after observing Carloss quantity choice. The market demand for eggs is given by Q-16-p. Use the purple line (diamond symbols) on the following graph to illustrate Eileens best-response function as determined by the quantity of eggs Carlos decides to produce. EILEENS QUANTITY (Gross of eggs per dayl 20 18 16 Eileens BR 12 10 | 0 2 46 8 10 12 14 16 18 20 CARLOSS QUANTITY IGross of eggs per day] Lele」 aearALI Since Carlos knows how Eileen will react depending on the quantity of eggs he sells, he can internalize this effect by deriving the net demand for his eggs. In the first blank column of the following table, enter the quantity of eggs Eileen will sell, given each of the quantities listed for Carloss production. Then add these quantities to solve for the total production of eggs and enter the sum in the Total Production column. Finally, determine the market price that will emerge, given the total production, and enter that price in the final column. Eileens Production (Gross per day) Total Production (Gross per day) Carloss Production Emerging Market Price (s per gross) (Gross per day) 16](http://img.homeworklib.com/questions/3cd1e610-749f-11eb-ae41-eb658d5ee3f8.png?x-oss-process=image/resize,w_560)
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t Question x E Suppose That ln This Market C × 1 + et'quiz?quiz action take...
Problem 1. Second Degree price discrimination Suppose all consumers are identical and market demand given by...
Problem 1. Second Degree price discrimination Suppose all consumers are identical and market demand given by p = 100-q. The monopoly's cost function is C(q) q2. (a) Suppose the monopolist cannot discriminate prices and must set a uniform price. Compute price and quantity set by the monopolist. Compute the profit of the monopoly. b) Suppose now that the monopoly can set a two-part tariff. Find the optimal two-part tariff. Compute the profit of the monopolist Problem 2. Third Degree price...
please help with question 1 please help with question 2 thanks A B C D E...
please help with question 1
please help with question 2
thanks
A B C D E F G H I 23 24 1. Last week, Cal sold an average of 4,000 gallons per day at an average price of $2.749 per gallon. This 25 week, he raised the average price by 1 cent to $2.759 per gallon, and both revenues and profits dropped. 26 His station is now selling an average of 3,600 gallons per day. Fixed costs of operating...
I need help on question ii. Market Demand Porsche Spyder 1,050,000 1 Fred 1.000.000 Michel 950.000,-...
I need help on question ii.
Market Demand Porsche Spyder 1,050,000 1 Fred 1.000.000 Michel 950.000,- Hua 900.000 Carlos Up 850.000 - John 800,000 Price (dollars Marty 9750.000 · Bob 700,000 Blaise 850,000 800,000+ Quantity Demanded (cars per year) If the price of a Spyder drops to $700,000, Instructions: Enter your responses as a whole number a. How many Spyders can be sold at that price? b. How much consumer surplus will there be if the cars are sold at...
Click the icon with Use the information on the kumquat market in the following table to answer the questions, (Qua...
Click the icon with Use the information on the kumquat market in the following table to answer the questions, (Quantities are given in millions of crates per year) Graph Quantity Supplied Pulce Quantity (Per Crate) Demanded 120 110 60 15 100 fadebook Score 20 100 SO 30 100 25 10 220 Jee score bran See score By Bee score The equilibrium price is and the equilibrium quantity is in crates (Enter your responses as integers) How much revenue de kumquat...
D) shifts to the right and then moves back C) They guarantee that a market wil...
D) shifts to the right and then moves back C) They guarantee that a market wil be competitive. Di All of the above 26. The price elasticity of demand ean he found by: A) measuring absolute changes in price and quantity demanded B) comparing the percentage change in quantity demanded to the percentage change in C) examining only the slope of the demand curve. D) knowing that when price changes, the quantity demanded goes in tbe opposite direction A) that...
Question 1: Suppose the Australian market for uranium ore concentrate is characterized as follows: Market Supply:...
Question 1: Suppose the Australian market for uranium ore concentrate is characterized as follows: Market Supply: Q = 0.5P − 40 and Market Demand: Q = 50 − 0.1P, where P is measured in Australian dollars per kiloton of uranium ore concentrate and Q is measured in kilotons of uranium ore concentrate per day. Using this information, answer the following questions. Part (b) Suppose that after thorough analysis of the Australian market for uranium ore concentrate, the government concludes that...
4. (90pts) Suppose that the market Demand for beer in Ireland, QD, is given by P=...
4. (90pts) Suppose that the market Demand for beer in Ireland, QD, is given by P= 900 - QD. (1) There are two identical suppliers of beer in the Irish market, each of which has the identical Supply schedule of beer, Qs, given by the following P = 100 + 2Qs. (2) We note that the price of beer is expressed in dollars, and the quantities are expressed in kegs ("barrels”) of beer per day. a. (10pts) Calculate the market...
6. (16 points) Suppose we realize that the market described in question 1 (Market demand is...
6. (16 points) Suppose we realize that the market described in question 1 (Market demand is still Q = 18 – P) has a negative externality. The cost function C(Q) = Q2 is private cost. We now know the cost of the externality is Ca(Q)=Q?. a. What is the marginal cost of the externality, MCE? b. What is the marginal cost to society of production MCS? c. What is the Socially Optimal quantity and price? d. How does the socially...
1. Suppose market demand for oranges is given by QD = 500 - 10P where Qp...
1. Suppose market demand for oranges is given by QD = 500 - 10P where Qp is quantity demanded and P is the market price. Market supply is given by Qs = -100 + 10P where Qs is quantity supplied and P is the market price. (a) Find the equilibrium price and quantity in this market. (b) What is the consumer surplus and producer surplus? (C) Suppose that the government imposes a $10 tax on the good, to be included...
1. Suppose there are two potential customers in the market. One has demand function D1(p)=10-p ....
1. Suppose there are two potential customers in the market. One has demand function D1(p)=10-p . The other has demand function D2(p)=20-2p. The only firm in this market has constant marginal cost of 2. (1) Draw the two demand curves in a graph, with price on the vertical axis and demand on the horizontal axis. (2) (3rd-degree price discrimination) If the monopoly can identify the two consumers and charge different prices to them, what is the optimal price charged to...
Problem 1. Second Degree price discrimination Suppose all consumers are identical and market demand given by p = 100-q. The monopoly's cost function is C(q) q2. (a) Suppose the monopolist cannot discriminate prices and must set a uniform price. Compute price and quantity set by the monopolist. Compute the profit of the monopoly. b) Suppose now that the monopoly can set a two-part tariff. Find the optimal two-part tariff. Compute the profit of the monopolist Problem 2. Third Degree price...
please help with question 1
please help with question 2
thanks
A B C D E F G H I 23 24 1. Last week, Cal sold an average of 4,000 gallons per day at an average price of $2.749 per gallon. This 25 week, he raised the average price by 1 cent to $2.759 per gallon, and both revenues and profits dropped. 26 His station is now selling an average of 3,600 gallons per day. Fixed costs of operating...
I need help on question ii.
Market Demand Porsche Spyder 1,050,000 1 Fred 1.000.000 Michel 950.000,- Hua 900.000 Carlos Up 850.000 - John 800,000 Price (dollars Marty 9750.000 · Bob 700,000 Blaise 850,000 800,000+ Quantity Demanded (cars per year) If the price of a Spyder drops to $700,000, Instructions: Enter your responses as a whole number a. How many Spyders can be sold at that price? b. How much consumer surplus will there be if the cars are sold at...
Click the icon with Use the information on the kumquat market in the following table to answer the questions, (Quantities are given in millions of crates per year) Graph Quantity Supplied Pulce Quantity (Per Crate) Demanded 120 110 60 15 100 fadebook Score 20 100 SO 30 100 25 10 220 Jee score bran See score By Bee score The equilibrium price is and the equilibrium quantity is in crates (Enter your responses as integers) How much revenue de kumquat...
D) shifts to the right and then moves back C) They guarantee that a market wil be competitive. Di All of the above 26. The price elasticity of demand ean he found by: A) measuring absolute changes in price and quantity demanded B) comparing the percentage change in quantity demanded to the percentage change in C) examining only the slope of the demand curve. D) knowing that when price changes, the quantity demanded goes in tbe opposite direction A) that...
4. (90pts) Suppose that the market Demand for beer in Ireland, QD, is given by P= 900 - QD. (1) There are two identical suppliers of beer in the Irish market, each of which has the identical Supply schedule of beer, Qs, given by the following P = 100 + 2Qs. (2) We note that the price of beer is expressed in dollars, and the quantities are expressed in kegs ("barrels”) of beer per day. a. (10pts) Calculate the market...
6. (16 points) Suppose we realize that the market described in question 1 (Market demand is still Q = 18 – P) has a negative externality. The cost function C(Q) = Q2 is private cost. We now know the cost of the externality is Ca(Q)=Q?. a. What is the marginal cost of the externality, MCE? b. What is the marginal cost to society of production MCS? c. What is the Socially Optimal quantity and price? d. How does the socially...
1. Suppose market demand for oranges is given by QD = 500 - 10P where Qp is quantity demanded and P is the market price. Market supply is given by Qs = -100 + 10P where Qs is quantity supplied and P is the market price. (a) Find the equilibrium price and quantity in this market. (b) What is the consumer surplus and producer surplus? (C) Suppose that the government imposes a $10 tax on the good, to be included...
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