imagine a small town in which only two residents Take Home Questions.docx - imagine a small town in which only two residents Take Home Questions Extra

# Imagine a small town in which only two residents Take Home Questions.docx

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imagine a small town in which only two residents Take Home Questions - Extra Credits Review classmates for chapters 7,8,13,14,15 and 17 Multiple Choice Os for Chapters 14,15 and 17 Imagine a wall town in which only se e d Alwn wells that produce safe drinking water. Each weck Rochelle and Ale work her to decide how many los of water to pump. They bring the water to town and sell whatever price the market will bear. Rochelle and Alee pump the water with no fixed costs but at a marginal cost of SS. The weekly town demand schedule and total revenue schedule for water is shown in the table below. Complete the table first Total Revenue Profit Quantity (in gallons) Price SO alalalalalala 1. If Rochelle and Alec operate as a profit-maximizing monopoly in the market for water, what price will they charge? 2. If Rochelle and Alec operate as a profit-maximizing monopoly in the market for water, how many gallons of water will be produced and

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• Spring '11
• Ireland

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