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show complete solution for
Marginal profit = dProfit/dQ
= 1.8Q - 0.12Q2 - 6
Step by step
Solved in 2 steps
- Economic efficiency is optimal when the dead weight loss is positive True FalseE (i) Determine the following: (Go-200+ 200)dQ (ii) If the marginal cost for a product is MC= Q-60+20, determine the total cost, given FC = 803. Paragraph BIEEEOC 18.06 (and 18.07) Jim and Cheryl are competitors in a small town and each is trying to decide if it is worthwhile to advertise. If both of them advertise, each will earn a profit of $10, 000. If neither of them advertises, each will earn a profit of $20,000. If one advertises and the other doesn't, then the one who advertises will earn a profit of $30,000 and the other will earn $14,000. What is the Nash equilibrium in this game? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Neither of them should advertise. b Both of them should advertise. There is no unique Nash equilibrium for this game. d Jim should advertise and Cheryl should not advertise.
- With reference to the data provided in the table, make any recommendations for choosing the preferred alternative by using (a) dominance, (b) satisficing, (c) disjunctive lexicography. Use all the methods separately. Click the icon to view the table for the data for the alternatives discussed. a. Choose the correct answer below. O A. Alternative "Vendor II" is dominated only by alternative "Vendor III" and should be eliminated. OB. None of the alternatives dominates the other. O C. Alternative "Vendor III" is dominated only by alternative "Vendor II" and should be eliminated. OD. Alternative "Vendor I" is dominated only by alternative "Vendor III" and should be eliminated. ancial calculator More Info Attribute A. Reduction in throughput time B. Flexibility C. Reliability D. Quality E. Cost of system (PW of life-cycle cost) Pairwise comparisons: Vendor / 60% Good Excellent Good $270,000 C……. 1.A C Alternative Vendor // 70% Excellent Good Excellent $300,000 6.B> D 7.BHow has Low Cost Carriers established a unique position in the aviation industry? (short essay)Define and explain the term "ethical dilemma"? Cite an example.Pharmed Caplets is an antibiotic product with monthly revenues and Pharmed Caplets is an antibiotic product with monthly revenues and costs of:TR = $900Q – $0.1Q2 ………… TC = $36,000 + $200Q + $0.4Q2MR = ∂TR/∂Q = $900 – $0.2Q ……. MC = ∂TC/∂Q = $200 + $0.8QA. Set up a spreadsheet for output (Q), price (P), total revenue (TR), marginal revenue (MR), total cost (TC), marginal cost (MC), average cost (AC), total profit (π), and marginal profit (Mπ). Establish a range for Q from 0 to 1,000 in increments of 100 (i.e., 0, 100, 200, …, 1,000).B. Using the spreadsheet to, create a graph with MR, MC, and AC as dependent variables and units of output (Q) as the independent variable. At what price/output combination is total profit maximized? Why? At what price/output combination is average cost minimized? Why?C. Determine these profit-maximizing and average-cost minimizing price/output…A monopolist facing a demand p=1000 - 10Q has costs TC(Q) = 5Q^2 + 100Q. (a) What is the monopolist’s profit maximizing quantity and price? What is the induced DWL? (b) Suppose, on top of the costs above, the firm now also pays; (i) A flat fee of 1000 dollars, (ii) half of the profits, (iii) 150 dollars per unit sold, (iv) half of the revenue. Separately for each of these 4 cases, calculate the profit maximizing price and quantity for the monopolist with these new augmented costs. Does any of these scenarios alter the DWL associated with the monopoly, compared to (a)? (c) Forget about (a) and (b), and consider a monopoly in general. Show on a single graph with general costs (ATC and MC graphs) and a general demand, what quantity monopoly should produce in order to maximize ; (i) Total Revenue, or (ii) the number of units sold, under the condition that the firm does not make lossesGaining access to complementary technology is an advantage of licensing IPR. True Falseat point b) - The formula written down when MC is equated with MR is d(P x Q) / dQ. Then in the next step, dQ is cut down and only P is left. Shouldn't dP be left here?46. Consider the information concerning the costs and QALYS for various treatments for cancer that is presented in the table below. Which of the treatments is/are dominated? Cost per QALYS Gained Cancer Treatment Treatment 200 400 10 500 12 K 600 6. 700 14 Oa.G. O b. H. OCK OdL Oe None of the aboveA monopolist is facing the following demand schedule Pa24-30 That is, Q0 implies Pe24, then Qefimplies P21, and Q-2 entals P18, and so one. Fixed costs will be neglected in this analysis. The marginal cost is constant and equal to 3 for every unit produced. Determina (a) The quantity produced and the amount of maximum profits (b) Price and quantity to yield the efficient solution (c) Redo (a) when we impose a sales tax equal to 4 (per unit sold).SEE MORE QUESTIONS
