Please help me answer Problem #14. Thank you so much
14 solution, P = 3 cent/kw ( fixed)
put the value of P=3 in the respective demand functions ;
Please help me answer Problem #14. Thank you so much 13. The San Francisco Power Company...
A power company has a maximum daily capacity of 5 million kilowatt-hours (kWh) of electric power available. The daily demand for power from customers is the total of the peak hours demand and off-peak hours demand. The following functions estimate the high-demand (peak) hours and low-demand (off-peak) hours (unit in millions of kWh): High demand : 10 – 0.08ph + 0.007pl Low demand : 9 – 0.18pl + 0.004ph , where variable pl represents the price per kilowatt-hour during low-demand...
Can someone help me solve those three questions? thank you so much Solve the following sets of equations (4 points) 1. Qs 3 5P (supply) find equilibrium Q and P Qd 63 -15P (demand) (supply) find equilibrium Q and P P 55-2Qd (demand) Using Elasticities (6 points) Show your work for full points. 1. What is the percent change in quantity demanded if demand elasticity is (-02) and price has increased 10%? 2. What is the percent change in quantity...
Need help with this please Lab 14 Electricity Bill Worksheet Background knowledge. The power of an electrical appliance is measured in watt (W). One watt is a measure of the energy used up in one second. The unit used for calculating power consumption is the kilowatt-hour (kWh). In order to calculate power consumed by an electrical appliance, we first convert the power to kilowatt (kW). For example, 800 W=0.8 kW, 2000 W = 2.0 kW and so on. One unit...
Can anyone help me solve this problem? thank you so much Graphical Questions (16 points) You are given a Demand function for beer Qb- 40-5Pb+5Pw + where Qb $10 and starting income is $120. .5Y quantity of beer, Pb price of beer, Pw price of wine, and Y income. The starting price of wine is Graph 1. Calculate the levels and included in the intercept. Write out that equation. simple linear demand for Q as a function of P, assuming...
Please answer me in detail. Thank you. Market demand curve is D(P)=400-5P. The oil drilling industry consists of 60 producers, all of whom have an identical short- run total cost curve, STC(Q) = 64 + 2Q2, where Q is the monthly output of a firm and $64 is the monthly fixed cost. The corresponding short-run marginal cost curve is SMC(Q) 4Q. Assume that $32 of the firm's monthly $64 fixed cost can be avoided if the firm produces zero output...
Please help to answer this question. Thank you 5. The Zenith television company faces a demand function for its products which can be expressed as Q-4000 - P+0.5Y where Q is the number of televisions, P is the price per television, and is average monthly income. Average monthly income is currently equal to RM2,000 1. Express the inverse demand curve faced by Zenith at the current income level. [2 marks) At what price and quantity is Zenith's total revenue (TR)...
Can you please help me out with this problem? Thank you!!! A market demand function is P= 100 - Q. MC = 40. Total revenues =P*Q = (100 - Q)*Q= 100Q – Q2. Therefore Marginal Revenue = dTR/dQ = 100 – 20. a. At P=MC, what is the price and quantity sold? b. What is the profit-maximizing price and quantity for a single firm? Imagine there are two identical firms, selling the same product and with the same MC =...
Please help me with number 14 only. thank you so much! Part C: Note: This section is a continuation from Parts A and B of the comprehensive problem. Be sure you have completed Parts A and B before attempting Part C. You may have to refer back to data presented in Parts A and B as well as use answers from those parts when completing this section. Genuine Spice Inc. began operations on January 1 of the current year. The...
Part VI Multiple Choice: Imperfect Competition 13. If a firm with market power maximizes profit by producing at the unit elastic point on the demand curve, then a. it has no direct competitors. b. its marginal cost must be zero at the profit-maximizing level of output. c. demand must be perfectly elastic. d. it cannot be in long-run equilibrium. 14. Which of the following statements is not always true for a monopolist in short-run equilibrium? a. E 1 b, TR>...