distributed along the linear street. Consumers will buy exactly one unit of the product as long as the price paid and other costs are lower than the value derived from consuming the product (V). Consumer incur transaction cost 2d where d is the distance travelled. Suppose there are two firms and the marginal cost of production is 5. There are 2 firms. (i) Find the location of the indifferent customer is price charged by firm 1 is P1 and price charged by firm 2 is P2. (ii) Find the demand functions for the two firms. (iii) Find the best response functions of each firm. (iv)

Q: b) Sunway College's newspaper, The Blaze has fixed production costs of RM 70 and marginal printing…

A: (iii) At break even R(x) = C(x)   iv) Profit function = revenue funCtion - cost function

Q: A cooperative society of farmers has 50 hectares of land for two crops, X and Y. Earnings for crops…

A: Given:  cooperative society of farmers has 50 hectares of land for two crops, X and Y. Earnings for…

Q: Cost, revenue, and profit are in dollars and x is the number of units. If the marginal cost for a…

A: marginal cost is the derivative of the cost function at some point. So the inverse will be the cost…

Q: If the supply function for a commodity is p=q^2 +8q +16 and the demand function is p = -9q +6q +…

A:

Q: A company manufactures x units of Product A and y units of Product 8, on two machines, I and II. The…

A:

Q: A farmer has 1,000 acres of land on which he can grow corn, wheat or soya beans. Each acre of corn…

A: Using simplex method

Q: Eyeglasslux is a single-price monopolist in the eye-glass frame market. It faces a Market demand…

A: The profit is maximized where the MR = MC.The monopoly has market power and thus, firm in monopoly…

Q: Units of Product A and y units of Product B, on two machines, I and II. It has been determined that…

A: let's consider the constraints on the values for x and y: x≥0 and y≥0  since product produced can…

Q: If company A manufactures t-shirts and sells them to retailers for US$9.80 each. It has fixed costs…

A: Company A sells each shirt at $9.80 Fixed cost=$2625 Production per unit=$2.30 Demand for the…

Q: A demand of 230 banquet attendees can be expected at a dinner plate price of $80.00 each. A demand…

A: Graphically, a linear relationship representing the dependence of a dependent variable on an…

Q: Suppose the prices of the commodities A and B are p1 and p2 respectively. The consumer purchases X1…

A: We are given the price of commodity A is p1 and the price of commodity B is p2 Now, X1 units of…

Q: Suppose that the long-lasting light bulb supply equation is given by p = 1.04 q- 7.03 and that the…

A: At equilibrium quantity demanded is equal to quantity supplied.

Q: Suppose that in the inventory problem, there is an annual cost, k₁, for storing a single unit, plus…

A: Given:q=k1​+2k2​2fM​​ Where:f is the fixed cost per order or production run.M is the annual…

Q: A company has the linear total cost function C(x) = 22x + 2109. (a) What is the company's marginal…

A:

Q: A product may be made using Machine I or Machine II. The manufacturer estimates that the monthly…

A: Let x be the number of machines sold

Q: A company produces 1200 widgets a week at a total cost of $15,000 and 1800 widgets a week at a total…

A:

Q: manager sells 75 cakes per week at 650 pesos each and he knows that for every 10 pesos crease in the…

A: Given query is to find the price tk maximize the revenue.

Q: The production function of a competitive firm is described by the equation y = 2.x26x,2. The factor…

A: Given the production function of the competitive firm : y=2x1126x212 The factor prices are p1=$3 and…

Q: The average product of labor on a fencing crew with 4 workers is 0.6 miles per employee per day. The…

A:

Q: If the supply function for a commodity is p=q^2+8q+16 and the demand function is p = -9q +6q + 426,…

A: