A steel firm creates water pollution for a downstream fishery. The price and cost functionsfor steel and fish are as follows:Price of steel30Cost function for steel Csteel(s,x)6s + 3s? – 20x + 2x²Price of fish50Cost function for fish Cfish(f,x)20f+5f² + 14x +x?(a) How much steel (s), pollution (x) and fish (f) will the steel and fish plants produce if theyare merged and act to maximize joint profit? (Maximise joint profit)

Given information Price of steel=30 Price of fish=50 Cost of steel=6s+3s2-20x+2x2 Cost of…

A steel firm creates water pollution for a downstream fishery. The price and cost functions for steel and fish are as follows: Price of steel 30 Cost function for steel Csteel(s,x) 6s + 3s? – 20x + 2x? Price of fish 50 Cost function for fish Cfish(f,x) 20f+5f² + 14x +x? (a) How much steel (s), pollution (x) and fish (f) will the steel and fish plants produce if the are merged and act to maximize joint profit? (Maximise joint profit)

A steel firm creates water pollution for a downstream fishery. The price and cost functions for steel and fish are as follows: Price of steel 30 Cost function for steel Csteel(s,x) 6s + 3s? – 20x + 2x? Price of fish 50 Cost function for fish Cfish(f,x) 20f+5f² + 14x +x? (a) How much steel (s), pollution (x) and fish (f) will the steel and fish plants produce if the are merged and act to maximize joint profit? (Maximise joint profit)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

What is the total benefit associated with producing four units of the control variable, Q (identify point A in the table)? Control variable Marginal Cost Marginal Net Benefit Q MC (Q) MNB (Q) 0 1 2 3 4 5 6 7 8 19 10 Total Benefits. Total Costs B(Q) 0 900 1,700 2,400 A 3,500 3,900 4,200 4,400 4,500 4,500 C(Q) 0 100 300 600 1,000 1,500 2,100 2,800 B 4,500 5,500 Net Benefits N(Q) 0 800 C 1,800 2,000 2,000 1,800 1,400 800 0 -1,000 Marginal Benefit MB (Q) 900 800 700 600 500 D 300 200 100 0 100 200 E 400 5.d 600 700 800 900 1,000 800 600 400 200 F -200 -400 -600 -800 -1,000
a. (TRUR or FALSE) Labor can be a fixed cost? b. (CHOOSE THE RIGHT ANSWER) One of the best examples of internalizing externalities is through (Donation, Loans, Subsidied or Sponsors) c. (CHOOSE THE RIGHT ANSWER) If it costs Mary P500 to produce a product and Anne P600, the producer surplus when the price of the product is 800 is (300, 200, 400, 500)
A utility company is closely monitoring a new set of federal guidelines recently passed by the EPA (Environmental Protection Agency) regarding allowable green house (CO2) emission levels. In this example, the primary external factor of concern for the utility company in question. environment is the A Technological Regulatory (also political and legal) C Competitive D Economic
By 2030, Tesla is the dominant player in the market for self-driving cars, but it faces an entry threat by ACME Corporation. To examine its behavior toward competitors, suppose that Tesla produces q₁ and it incurs a cost of c₁ (91) = 69₁. ACME Corporation produces a self-driving car that is a perfect substitute for the Tesla vehicle, but its production costs are: c₂ (92) = 100+1292. Inverse demand for self-driving cars is given by p(Q) = 120-Q, where Q = 9₁ +92
Need typed solution
Supply and Demand: End of Chapter Problems 9. Adjust each graph to show the indicated change. In each graph, click on the line or its midpoint to see the options. a. An increase in quantity demanded b. A decrease in demand Quantity Question Source: Chiang 4e- Economics Princidles FoHA Changing World Publisher: Worth 11:06 PI 65°F 10/13/20 Price
What are the threats and opportunities for the Economical environment of Apple and why?
What would full marginal-cost pricing of water lead to? Group of answer choices A. more water use and higher water prices. B. less water use and higher water prices C. less water use and lower water prices D. less water use but no change in water prices
Need help plz.
V1
Rubidoux Adventures supplies professional guides for climbs up Mt. Rubidoux. The company has two guides, Rocky and Cliff. Because Mt. Rubidoux is a pretty easy climb, the company has only two customers, Ken and Lucy. The table below shows the guides' marginal costs for each climb as well as the customers' MWTP for guided climbs. Use this table to answer the questions that follow. Assume that only whole climbs are available. MCRocky (S/climb) Climbs MCClff MWTPKen MWTPLucy (S/climb) (S/climb) (S/climb) 1 4 1 24 22 2 6. 23 21 3 7 4. 21 18 4 11 7 19 16 13 9 17 11 16 12 14 8 7 19 14 11 6 21 16 9 3 What is Ken's reservation price? O a. 22 Ob. 23 OC 24 O d. 21
Problem 14 A monopolist has an inverse demand curve given by p(y) = 12-y and a cost curve given by c(y) = y. (b) What is the deadweight loss of monopoly? (c) Suppose the government decides to put a tax on this monopolist so that for each unit it sells it has to pay the government $2. What will be its output under this form of taxation? (d) What will be the extra deadweight loss due to the tax? (e) Suppose now that the government puts a lump sum tax of $10 on the profits of the monopolist. What will be its output?