Hi there just wanting answe to question 4 B, Thank you. There are two types of car, distinguished by how fuel eficient they are. TypeO is the less fuel efficient type, and type 1 is the more fuel efficient. The inversedemand curves for the two types of car are:Po = 250 – Qo – Qı/2, P = 120 – Q1 – Qo/2.(1)Cost functions areCo(Qo) = 50Q0, C:(Q1) = 20Q1(2) 4) In the fourth setup there are only two firms, but both of them provide both types of car.You might think of this as the two firms competing against each other in two markets. Eachfirm chooses two quantities to provide, given the two quantities chosen by the other firm.The two firms are identical. Demand functions for the total quantity of type 0 cars, and forthe total quantity ofType 1 cars are unchanged. The cost functions for producing the two types of car are alsounchanged.(B) Take two first-order conditions for that firm.

Given Po=250-Qo-Q1/2, P1=120-Q1-Qo/2 Co(Qo)=50 Qo, C1(Q1) = 20Q1 Type 0 car Po =250-Qo-Q1/2…

There are two types of car, distinguished by how fuel efficient they are. Type O is the less fuel efficient type, and type 1 is the more fuel efficient. The inverse demand curves for the two types of car are: Po = 250 – Qo – Q1/2, P = 120 – Q1 – Qo/2. (1) Cost functions are Co(Qo) = 50Q0, C:(Q1) = 20Q1 (2)

There are two types of car, distinguished by how fuel efficient they are. Type O is the less fuel efficient type, and type 1 is the more fuel efficient. The inverse demand curves for the two types of car are: Po = 250 – Qo – Q1/2, P = 120 – Q1 – Qo/2. (1) Cost functions are Co(Qo) = 50Q0, C:(Q1) = 20Q1 (2)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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