{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Assignment Six 3.14.08

# Assignment Six 3.14.08 - Assignment Six AGEC 505...

This preview shows pages 1–2. Sign up to view the full content.

Assignment Six. AGEC 505. Agricultural Market Structures. Spring 2008. Due: 11:30 AM, Friday, March 14, 2008. Turn in TYPED hard copy before class. Assignments turned in after 11:30 AM will be marked 10 percent off. This late policy will be strictly enforced . Assignments turned in after the deadline will be marked 10 percent off each day that they are late (for example, an assignment due on Friday that is turned in on Monday will be marked 40 percent off). Exceptions will be granted in advance by the instructor. Assignments must be typed. Fifty percent off for untyped work. READ : Chapter 11 1. (10 pts) First Degree Price Discrimination Suppose that the producer of a new food product has an inverse demand curve given by: P = 36 - Q d and a cost function given by C(Q) = 0.5Q 2 , where P is the price of the food product in USD/unit and Q is the quantity of products sold. a. (4 pts) Define and explain first degree price discrimination, and provide a real-world example. b. (2 pts) Calculate P (if applicable), Q, CS, PS, and DWL under perfect competition.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### Page1 / 2

Assignment Six 3.14.08 - Assignment Six AGEC 505...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online