MPB = 90 – 4Q; MSB = 80 - 4Q; MC: P = 30 + Q;
Q |
MPB |
MSB |
MC |
P=MR |
0 |
90 |
80 |
30 |
35 |
5 |
70 |
60 |
35 |
35 |
10 |
50 |
40 |
40 |
35 |
15 |
30 |
20 |
45 |
35 |
20 |
10 |
0 |
50 |
35 |
25 |
-10 |
-20 |
55 |
35 |
A. As the MSB and MPB is greater than the cost associated at price of $35, the consumers would get the rabies vaccine for their dogs.
B. From the social perspective, the rabies would yield in positive externality and hence consumers should get their dogs vaccinated with rabies
The following functions show the relationship between price, costs and the number of dogs receivi...
help with #7, please!
Notes: Show all calculations. Draw neat graphs Price discrimination by a monopolist A profit-maximizing monopolist sells the same good in 3 separate markets. The demand functions and cost function are given below Demand in Market 1: P 80-4Q, Demand in Market 2: P,-100 50 Demand in Market 3: P,-70 - 60, Cost function: C- 20 +2-4Q, where Q is total output, 1. (4 points) Obtain the firm's profit function in terms of the three choice variables...
help with #4, please!
Notes: Show all calculations. Draw neat graphs Price discrimination by a monopolist A profit-maximizing monopolist sells the same good in 3 separate markets. The demand functions and cost function are given below Demand in Market 1: P 80-4Q, Demand in Market 2: P,-100 50 Demand in Market 3: P,-70 - 60, Cost function: C- 20 +2-4Q, where Q is total output, 1. (4 points) Obtain the firm's profit function in terms of the three choice variables...
Willy's widgets, a monopoly, faces the following demand schedule (sales of widgets per month): Price $20 30 40 50 60 70 80 90 100 Quantity 40 35 30 25 20 15 10 5 0 Calculate marginal revenue over each interval in the schedule (for example, between Q = 40 and Q=35). Recall that the revenue is the added revenue from an additional unit of production/sales and assume MR is constant within each interval. If marginal cost is constant at $20...
Exhibit 7. Suppose that in a recent market period, the following relationship existed between the price of tablet devices and the quantity supplied and quantity demanded. Price 5330 $340 $350 S360 Quantity Demanded 100 million 90 million 80 milliorn 70 million Quantity Supplied 40 million 60 million 80 million 100 million S370ich 29-Graph the supply and demand curves for tablet devices using the information in the table. What are the equilibrium price and 60 million 120 million quantity? 30- In...
1. Suppose supply in a market is Qs = P + Ps = 30, where P is the price and Q is the quantity. There is perfect competition in this market and demand is Qp = 80 - P + PD = 160 - 20. (D) The equations to the right are the inverse functions. (a) Calculate price and quantity in equilibrium. Illustrate the equilibrium in a figure. Mark carefully the slopes and in- tercepts (the intersections of the curves...
1) A firm's production function is the relationship between: 1) _______ A) the demand for a firm's output and the quantity it is able to produce with available resources. B) the factors of production and the resulting outputs of the production process. C) the firm's production costs and the amount of revenue it receives from the sale of its output. D) the inputs employed by the firm and the resulting costs of production. 2) The demand curve faced by the...
Suppose that in a recent market period, the following relationship existed between the price of tablet devices and the quantity supplied and quantity demanded. (10 points) 3. Price Quantity Demanded Quantity Supplied S330 100 million 40 million S340 90 million 60 million S350 80 million 80 million S360 70 million 100 million $370 60 million 120 million Graph the supply and demand curves for tablet devices using the information in the table. What are the equilibrium price and quantity? If...
Suppose that in a recent market period, the following relationship existed between the price of tablet devices and the quantity supplied and quantity demanded. (10 points) 3. Price Quantity Demanded Quantity Supplied S330 100 million 40 million S340 90 million 60 million S350 80 million 80 million S360 70 million 100 million $370 60 million 120 million Graph the supply and demand curves for tablet devices using the information in the table. What are the equilibrium price and quantity? If...
2. A perfectly competitive firm (price-taker) has the following schedule of average and marginal costs: Q AFC AVC ATC MC 0 1 300 100 400 100 2 150 225 50 100 70 170 60 80 4 75 73 148 140 60 110 6 50 90 103 140 146 140 180 230 7 8 43 38 119 156 171 190 138 160 290 360 33 30 10 For each of the following market prices, determine the following: The profit maximizing output...
Crumble Corporation produces cookies. Here is the relationship between the number of workers and output (in dozens of cookies) in a given day Average Total Marginal Marginal Workers 'Output Product Total Cost Cost Cost 0 0 28 40 143 28 1 70 4 2 50 피300 14일 2.31 17 3 67 kly23 La 18 4 80 lo 5 90 95 30 7 96 220 a. Fill in the column of marginal products. What pattern do you see? How might you...