8 9+3 ; determine the consumers’ surplus and p=- -2 Under pure competition q+1 p= and producers' surplus when market equilibrium is established.
Q: 2 Imperfect competition (2022) Two companies, Thomas Inc and Edison Inc, are the only producers of…
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A: Answer a). profit of firm A: n1 = P₁*D₁ -0.5D₁ => 1 = (P₁ -0.5)*(50/9 - 200/9 P₁ + 100/9
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A: Demand function; PD=200-0.2x2 Supply function; PS=100+x At equilibrium; PS=PD
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A: Profit is the different between total revenue and total cost . Profit = TR - TC
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A:
Q: PROBLEM (5) (In a market with demand Q = 780 - p, there are 3 identical firms, A, B and C; each with…
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Q: 248 249 250 251 252 253 254 9,622.35 32.60 1 32,60 9,654.90 32.55 1 32,55 9,687.40 32.50 1 32.50…
A: MRP is the marginal revenue product which is the demand for the input.
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Q: Question 5 Suppose that the cost function of a firm is C(q)=4q. Suppose that this is the only firm…
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Q: A competitive industry consists of 6 type A firms and 4 type B firms. Each type A firm operates with…
A:
Q: (9) Suppose the market for tennis shoes has one dominant firm and five fringe firms. The market…
A: a.Fringe firms marginal cost is:P=MC=20+5qP=20+5q5q=P-20q=P-205Now,There are five Fringe…
Q: Question 2 Suppose that the cost function of a firm is C(q)=4q. Suppose that this is the only firm…
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A: Given: P=50-2Qd P=10+2Qs
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- The car manufacturing market consists of100 identical factories, each with a marginalcost curve represented by MC =120 + 20where Q represents the amount of carsoffered.a) Derive the industry supply curve for cars.b) If the demand for cars is represented byP=250- 4Q, how many cars are bought atequilibrium?c) Calculate the aggregate consumer andproducer surplus at market equilibrium.A competitive equilibrium is defined by the price P* and quantity Q*. Suppose theconsumers become less price sensitive, but the same price-quantity equilibrium is maintained.Illustrate the change on a graph, labeling the old and new linear demand curves. What happensto consumer and producer surplus?this firm can sell its output for $16 per unit, what does its maximized producer rplus equal? 160. 15. 145. O There is insufficient information to calculate producer surplus.
- A large share of the world supply of cocoa beans comes from Ghana and Ivory Coast. Suppose that the marginal cost of producing cocoa beans is constant at GHC1000 per bag and the demand for cocoa beans is described by the following schedule. Price (GHC) Quantity (bags) 5000 6000 7000 8000 9000 10000 11000 12000 8000 7000 6000 5000 4000 3000 2000 1000 a) If there were many suppliers of cocoa beans, what would be the price and quantity? b) If there were only one supplier of cocoa, what would be the price and quantity? c) At a meeting in October 2017 in Accra, the leaders of the two leading producers of cocoa beans discussed the possibility of cooperating to boost the price of cocoa. If Ghana and Ivory Coast formed a cartel, what would be the price and quantity? If the countries split the market evenly, what would be Ghana's production and profit? f) What would happen to Ghana's profit if it increased its production by 1000 cocoa while Ivory Coast stuck to the cartel agreement? g) Use your…1. The demand function for a certain brand of DVD is given byp = −0.01x^2− 0.2x + 8where p is the unit price in dollars and x is the quantity demanded each week,measured in units of a thousand. Determine the consumers’ surplus if the market price is set at $5 per disc. PART 2 of number 1: The supplier of the DVD in problem #1 will make x hundred units availablein the market when the unit price in dollars isp =√36 + 1.8xDetermine the producers’ surplus if the market price is set at $9 per unit. 2.The demand function for a certain kind of mattress is given byp = 600e^−0.04xwhere p is the unit price in dollars and x (in units of a hundred) is the quantity demanded each month.(a) Find the number of mattresses demanded per month if the unit price isset at $250 per mattress.(b) Use the results of part (a) to find the consumers’ surplus if the sellingprice is set at $250 per mattress. PART 2 of number 2: The manufacturer of the brand of mattress of problem #2 will make x hundred units…Help me please
- 2. MBI and Pear are the only two producers of computer. MBI started producing computers earlier than Pear. MBI's costs of production are given by C₁(y₁) = y? Pear's cost function is C₂(y₂) = 15 y₂ + y². The national demand for computers is y = 60 – p. a) Calculate the Stackelberg equilibrium in which MBI is the leader in this market. Indicate output levels, market price, and the profits of each firm. b) Suppose that both firms enter this market at the same time. Calculate the Cournot equilibrium and compare it to the situation in part (a).Assume perfect competition takes place in the market for hotel rooms. The current market equilibrium price for a standard room is RM300 per night. c. Show the loss in net benefits from hotel use resulting from the tax.Please check the answer correctly and check twice i will upvote (e) What is the consumer surplus, producer surplus and total surplus in Autarky?
- A greenhouse is selling rosemary plants. The demand curve is 10 - 0.20 Q, while their marginal cost to produce the plants is described by 1 + 0.25 Q. Say that the greenhouse sets their quantity to 10. What is the TOTAL willingness to pay for the 10 plants? Only typed answerRefer to Table 4-4. The table above lists the marginal cost of sunglasses by Miami Dade Shades, a firm that specializes in producing designer sunglasses. If the market price for a pair of Miami Dade Shades sunglasses is $175, producer surplus is $10. $35. $140. $230.Exercise A.4 The demand in a market is given by Q = 10 - 0.1P. Production costs are given by C (Q) = 5Q2 + 10Q. Calculate market output, price, consumer surplus, and producer surplus in each of the following scenarios. Compare the economic efficiency in all three cases and represent graphically. (a) The market is supplied by a competitive industry. (b) The market is supplied by a monopoly. (c) The market is supplied by a monopoly that practices first-degree price discrimination.
