Make sure you show me all of your computations (TR, TC, and your partial derivatives). You...
Make sure you show me all of your computations (TR, TC, and your partial derivatives).
You will be using the same data for the Cournot and Cartel problem. Find the quantities for both firms in both market types that maxes profit. As a stretch question how much profit does each Cournot firm make and what is the joint profit for the cartel.
Assume:
- Market demand: P = 100 -.5Q1 - .5 Q2
- TC1 = 4Q1 and TC2 = .25Q22
Homework Answers
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Make sure you show me all of your computations (TR, TC, and your
partial derivatives).
You...
PROBLEM #1 Consider a market with two firms that sell products that are identical. Su market dema...
PROBLEM #1 Consider a market with two firms that sell products that are identical. Su market demand is as follows: P-56-Q , where Q measures the total output produced by both firms (that is, Q=q +q.) and qi and q, are the quantities produced by firm 1 and firm 2, respectively. The per-unit cost of production is $6 for each firm, and so the firm's cost functions are 6q, and 6q, respectively. Each firm seeks to maximize profits. The firms...
Instructions: Please write your answers in the spaces provided below. Show all work on the blank...
Instructions: Please write your answers in the spaces provided below. Show all work on the blank pages you were given for partial credit. Please write your name on all pages submit ted and staple them together 1. The demand and supply functions for a good are given as (1)Demand function: Pd 50 3Qd (2)Supply function: Ps141.5Qs a. Calculate the equilibrium price and quantity algebraically b. What is the Quantity Demanded when Price is zero? The Quantity Supplied? Interpret your results...
PART VI. Problems. Solve the following problems. Please show your work, especially how you calculate a)...
PART VI. Problems. Solve the following problems. Please show your work, especially how you calculate a) marginal revenue, the b) profit maximizing quantity and price, c) the Cournot reaction function [best response functions) and the Stackelberg model. (3 points for each problem.) 33. A regulated monopoly faces the following demand for its product, P = 68 - 4Q, and has a marginal cost of MC = 20. Q is the quantity sold and P is the price. a. Under regulation,...
Please show work! Homework Assignment 1 You must show all your work to earn points ECON...
Please show work!
Homework Assignment 1 You must show all your work to earn points ECON 3125 SP19 Name: 1. Use the graph below to answer the questions: 80 70 50 40 30 20 10 State the equation for the demand curve (inverse demand function) shown in the graph above using the format P.-a-bQ a. b. State the equation for the demand function implied in the graph using the format Q.-c-dP c. Find the equation for Total Revenue, where TR...
Please show me all your work and be accurate. Ill make sure to give you a...
Please show me all your work and be accurate. Ill make sure to
give you a thumbs up. Thanks
4) Suppose fishers incur a cost of $7,000 per boat to go fishing on the Columbia river. Below is the total revenue schedule for Salmon fishing based on hovw many boats enter the market. Calculate average and marginal revenue and fill in the table. (4 pts) Number of Boats Total Revenue ) Average Revenue () Marginal Revenue (S) 1,000,000 2,000,000 3,000,000...
PROBLEM #1 Consider a market with two firms that sell products that are identical. Su market demand is as follows: P-56-Q , where Q measures the total output produced by both firms (that is, Q=q +q.) and qi and q, are the quantities produced by firm 1 and firm 2, respectively. The per-unit cost of production is $6 for each firm, and so the firm's cost functions are 6q, and 6q, respectively. Each firm seeks to maximize profits. The firms...
Instructions: Please write your answers in the spaces provided below. Show all work on the blank pages you were given for partial credit. Please write your name on all pages submit ted and staple them together 1. The demand and supply functions for a good are given as (1)Demand function: Pd 50 3Qd (2)Supply function: Ps141.5Qs a. Calculate the equilibrium price and quantity algebraically b. What is the Quantity Demanded when Price is zero? The Quantity Supplied? Interpret your results...
PART VI. Problems. Solve the following problems. Please show your work, especially how you calculate a) marginal revenue, the b) profit maximizing quantity and price, c) the Cournot reaction function [best response functions) and the Stackelberg model. (3 points for each problem.) 33. A regulated monopoly faces the following demand for its product, P = 68 - 4Q, and has a marginal cost of MC = 20. Q is the quantity sold and P is the price. a. Under regulation,...
Please show work!
Homework Assignment 1 You must show all your work to earn points ECON 3125 SP19 Name: 1. Use the graph below to answer the questions: 80 70 50 40 30 20 10 State the equation for the demand curve (inverse demand function) shown in the graph above using the format P.-a-bQ a. b. State the equation for the demand function implied in the graph using the format Q.-c-dP c. Find the equation for Total Revenue, where TR...
Please show me all your work and be accurate. Ill make sure to
give you a thumbs up. Thanks
4) Suppose fishers incur a cost of $7,000 per boat to go fishing on the Columbia river. Below is the total revenue schedule for Salmon fishing based on hovw many boats enter the market. Calculate average and marginal revenue and fill in the table. (4 pts) Number of Boats Total Revenue ) Average Revenue () Marginal Revenue (S) 1,000,000 2,000,000 3,000,000...
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