I need the full answers of all parts correct and fast please Question 1.Suppose that a monopoly firm supplies to two different markets with the demandfunctions:Market 1: q, = 100 – 2p1 +P2(1.1)Market 2: q2 = 150 + p1 – 3p2(1.2)(a) Derive the inverse demand functions for both markets, and explain therelationship between the demand for the two goods.Assume that the firm's cost function is (q1 + 92)².(b) Derive the profit-maximizing outputs, prices and the maximum profit. Show that itis true maximum.(c) Suppose there is a restriction of q2 < 20 in the market for good 2. What is theimpact on the firm's output in both the markets, as well as on the maximumprofit?Now suppose the firm has a resource constraint such that it can produce a maximum of40 units of both goods in total, i.e., q, + q2 5 40.(d) What is the impact on the firm's output in both markets, as well as on themaximum profit? Compare this result with those in parts (b) and (c) above.

Given , Market 1 Demand function : q1 = 100 - 2p1 + p2 Market 2 Demand function : q2 = 150 + p1 -…

Question 1. Suppose that a monopoly firm supplies to two different markets with the demand functions: Market 1: q1 = 100 – 2p1 + P2 (1.1) Market 2: q2 = 150 + P1 – 3p2 (1.2) (a) Derive the inverse demand functions for both markets, and explain the relationship between the demand for the two goods. Assume that the firm's cost function is (q, + q2)² .

Question 1. Suppose that a monopoly firm supplies to two different markets with the demand functions: Market 1: q1 = 100 – 2p1 + P2 (1.1) Market 2: q2 = 150 + P1 – 3p2 (1.2) (a) Derive the inverse demand functions for both markets, and explain the relationship between the demand for the two goods. Assume that the firm's cost function is (q, + q2)² .

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

I am driving in the desert and discover that I am really low on gasoline. I find a roadside park and someone there offers to sell me 5 gallons for $50 (which, he says, should get me to the nearest gas station). I am desperate and so I agree to the deal. The most likely reason explaining why the individual made this decision is based on factors.
Something that is perceived as a luxury rather than a need is something that brings pleasure. Worldwide, the majority of people view food, shelter, and water as requirements. Undoubtedly, indoor plumbing and electricity would be included on the list by many Americans. As opposed to being a luxury, internet connection is increasingly considered as a need. But is it actually essential for surviving? What then happens to those who don't utilize or have access to the internet? Could the expansion of e-commerce be impacted by how people view Internet connection as a need or a luxury?
Number 4 please
What do you think of the ethics of using unconscious nudges to alter people’s behavior?
The illusion of pattern shapes our everyday lives. How does this illusion emerge (refer to law of small numbers & impossibility of causal explanations) and how does it affect decision-making?
Between qualitative and quantitative, which one is the best and more scientific methodology, and why?
Does a nudge force people to make a better choice?
Anderson is facing the hardest decision in his life: Should he buy the newest Xbox Series X (cost $500), the newest Apple Airpod Max (cost $550), or the newest Apple Mac Pro Wheels Kit (cost $700). Right now, Anderson has exactly $700. Provided that Anderson already has EVERYTHING he needs and the $700 cannot be used on anything else to make him happier (in other words, the $700 should only be spent on these 3 items. Moreover, for example, if Anderson chooses to buy the Xbox for $500, the remaining $200 is not usable and has no value to Anderson). 1/ If Anderson chooses to buy the Airpod Max, what is the opportunity cost associated with that option? 2/ How would your answer in 1/ change if Anderson just won the $1 million lotteries today? 3/ How would your answer in 1/ change if Anderson just lost one of his $100 bill today, making him now only has $600 left?
Hello can any one help with this Economics question: A restaurant serves two special dishes, A and B to its customers consisting of 60% men and 40% women. 80% of men order dish A and the rest B. 70% of women order B and the rest A. In what ratio of A to B should the restaurant prepare the two dishes ?
You need some garbage bags for your house and decide to stop by one of the local Dollar Generals (DG). You are faced with two alternatives that make sense to you. The first option is a box of 38 bags and the price is $7.00. The second option is a box of 17 bags at a cost of $5.00. What is the better choice?
How is the Rational decision making a complex process?
A personal economic decision that was driven by a behavioral bias rather than by pure rational behavior.