(Table: Demand Schedule of Whatchamacallits) Use Table: Demand Schedule of Whatchamacallits. The market for whatchamacallits consists of two producers, Emma and Joshua. Each firm can produce whatchamacallits at a marginal cost of $2 and no fixed cost. Suppose that these two producers have formed a cartel, agreed to split production of output evenly, and are maximizing total industry profits. Each firm's output would be , and each firm's profit would be Table: Demand Schedule for Whatchamacallits Price of a Quantity of Whatchamacallit Whatchamacallits Demanded $10 9 8 7 6 5 4 3 2 1 0 a) 1,000: $500 b) 500, $2,500 c) 1,000, $10,000 d) 200: $800 0 100 200 300 400 500 600 700 800 900 1,000

(Table: Demand Schedule of Whatchamacallits) Use Table: Demand Schedule of Whatchamacallits. The market for whatchamacallits consists of two producers, Emma and Joshua. Each firm can produce whatchamacallits at a marginal cost of $2 and no fixed cost. Suppose that these two producers have formed a cartel, agreed to split production of output evenly, and are maximizing total industry profits. Each firm's output would be , and each firm's profit would be Table: Demand Schedule for Whatchamacallits Price of a Quantity of Whatchamacallit Whatchamacallits Demanded $10 9 8 7 6 5 4 3 2 1 0 a) 1,000: $500 b) 500, $2,500 c) 1,000, $10,000 d) 200: $800 0 100 200 300 400 500 600 700 800 900 1,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The following are the P/E ratios (price of stock divided by projected earnings per share) for 20 banks. 50, 19, 22, 21, 25, 18, 31, 21, 19, 14, 15, 18, 17, 34, 29, 23, 14, 18, 22, 22 Send data to calculator Find 20" and 75" percentiles for these ratios. (a) The 20th percentile: (b) The 75th percentile:| Continue Cip 40 4- %23 %24 3. 6. 7. R. 00 %24
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