Consider a flower shop that uses sunflowers (s) and daisies (d) to produce bouquets. The cost for a sunflower is P...
Consider a flower shop that uses sunflowers (s) and daisies (d) to produce bouquets. The cost for a sunflower is P, and the cost for a daisy is pd. The quantity of bouquets is q. The flower shop sees these flowers as perfect substitutes such that bouquets are produced as: F(s. d) = 45+ 2d d) Let q = 200 and Pa = 1. Solve for the long run optimal amount of sunflowers s*(p) and daisies d" (p). (3 points)
3. Consider a flower shop that uses sunflowers (s) and daisies (d) to produce bouquets. The cost for a sunflower is Ps and the cost for a daisy is pd. The quantity of bouquets is q. The flower shop sees these flowers as perfect substitutes such that bouquets are produced as: F(s,d) 4s+2d (a) Suppose the delivery of sunflowers is delayed and are stuck with a certain number of sunflowers. In particular, they have s 40 sunflowers. Setup the short...
1. Consider a flower shop that uses sunflowers (s) and daisies (d) to produce bouquets. The cost for a sunflower is p, and the cost for a daisy is pd. The quantity of bouquets is g. The flower shop sees these flowers as perfect substitutes such that bouquets are produced as: F(s.d) = 2s +50 (a) Suppose the delivery of sunflowers is delayed and are stuck with a certain number of sunflowers. In particular, they have 5 = 10 sunflowers....
The figure shows the marginal cost (circles) and the average variable cost (crosses) of a firm in a competitive market. The firm always makes the choice to maximize its profit. Price, Cost ($) 5,000 ------ --O If the market price of the product is $3,400, what is the firm's producer surplus? 3,400 3,200 +----- --- ------------ O A. $880 O B. $5,700 OC. $1,700 OD. $3,250 2,000 1.700 1,000 -------- ====== ---------- ==== 1 2 6 7 Quantity 3 4...