Question

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Use the figure on the right to answer this question. In order to maximize profit,Pam should give per day and charge per lesson.c Pam gives the only piano lessons in town. Price and cost (dollars per lesson) 50 OA 4:$40 O B. 4: $20 О С. 6;$30 O D. 4; $30 O E. 2:$50 MC ATC 40 30 20 10 MR 0 2 4 6 8 10 12 Output (lessons) Click to select your answer Bud and Wise are the only two producers of aniseed beer, a New Age product designed to displace root beer Bud red squares) 20,000 They know that if they both limit production to 10,000 gallons a day, they will make the maximum attainable joint profit of $200,000 a day-$100,000 a day each They also know that if either of them produces 20,000 galions while the other produces 10,000 galons a day, the one that produces 20,000 gallons wil make an economic proft of $250,000 and the one that sticks with 10,000 galons will incur an economic loss of 10,000 galons $100,000. 20,000 gallions And they know that if they both increase production to 20,000 gailons a day, they will both make zero economic profit Wise blue squares) Construct a payoff matrix for the game that Bud and Wise must play The payoffs in the matrix are in dollars. Do not enter a dollar sign > If the fim incurs an economic loss, indicate the loss with a minus sign. If the firm makes an economic proft, do not include a plus sign 10,000 gallons Enter your answer in each of the answer boxes.

Answer 1

22 D ves the onH Piano lesn i mon A mune kessen bth innsk.prdichu. ts 2ucedelen之bsthualhntske gere-preht l m upone produces 2eue。でaller, and at her pred ces toou egalldu -> Bus ullen Ge ))(つく ん,Ie looouc dovao Gallen