Managers face ecomomic decisions for the companies they work for. One of these
decisions is procurement of inputs, and the least cost or feasable way of acuiring them.
Managers can use several different approaches to get the optimal input procurment.
Suppose that the total Benefits and total costs from and activity are, respectively, B(Q)= 150+28Q-5Q^2 and C(Q)
a) What level of ouput should this frim produce in the short run
MC=MR at 7
b)What price should this firm charge in the short run?
c) what is the firms total cost at this level of output?
d) what is the firms total varibale
How much of product X is produced when Px= 500 and Pz=30
just plugged the numbers into the QSX
b. How much of product X is produced when Px=50 and Pz=30
This is not posibible, so the amount of product
The horizontal distance between Dm and Dr is 16 units. Therefore, the monopolist firm
needs to produce 16 units of output.
The profit earned that generates the residual demand curve is:
They should produce a minimum of 16 units to deter
a. what is the HHI
0.0330578512 0.206612 0.132231
The firm firm concentration ratio is 100% or 1.
Qdx=1000(-) 2Px + .02Pz
What is the price elastivity of demand Px=154.
Since EPX is less than one demand is inelastic at this price
If the firm charged a lower price, total revenue would decrease.
What if th
A) Whats is the firms optimal output?
B) What is the firms optimal price?
c) what the firms max profits?
d) What adj should the manager be anticipating.
Demand will decrease as
100,125 300,250 200,100
Players 1 dominat strategy is B, and player 2 doesn't have a dominat strategy
P1 secure strategy is B, and P2 secure strategy is E.