Answer:
the supply will decrease causing an increase in pricing on mattresses.
Explanation:
Monopolism occurs when only one supplier produces a product with no other competitors. They control the supply and price of commodities.
Since other mattresse sellers have closed shop, the final seller will have monopoly of the mattresse market.
In order to maximise revenue he will reduce supply and increase prices so that customers will have no choice but to buy the scarce mattresse at higher price.
Answer:
$14038
Explanation:
The company has marginal revenue R'(t) = 
. Therefore its revenue R(t) is given as;
R(t) = ∫R'(t)
R(t)= ∫ dt = + c
R(t) = + c
But R(0) = 0, therefore:
R(0) = 
+ c = 0
+ c = 0
100 + c =0
c = -100
Also the marginal cost per day is given by C'(t) = 140 - 0.3t
C'(t) = 140 - 0.3t
C(t) = ∫C(t) = ∫ (140 - 0.3t) dt = 140t - (0.3/2) t² + C
But C(0) = 0
C(0) = 140 (0) - (0.3/2)(0)² + c = 0
c = 0
C(0) = 140t - (0.3/2) t²
Profit P(t) = R(T) - C(T) , hence the total profit from t = 0 to t = 5 is given as:
P(t) = ![\int\limits^0_5 {[R'(t)-C'(t)]} \, dt =\int\limits^0_5 {([100e^t-(140-0.3t)]} \, dt=\int\limits^0_5 {100e^t} \, dt +\int\limits^0_5 {-0.3t} \, dt +\int\limits^0_5 {-140} \, dt \\\\=[100e^t]_0^5+[ -140t]_0^5+[-0.3t^2/2]_0^5=[14841.316-100]+[-700]+[-3.75]=14038](https://tex.z-dn.net/?f=%5Cint%5Climits%5E0_5%20%7B%5BR%27%28t%29-C%27%28t%29%5D%7D%20%5C%2C%20dt%20%3D%5Cint%5Climits%5E0_5%20%7B%28%5B100e%5Et-%28140-0.3t%29%5D%7D%20%5C%2C%20dt%3D%5Cint%5Climits%5E0_5%20%7B100e%5Et%7D%20%5C%2C%20dt%20%20%2B%5Cint%5Climits%5E0_5%20%7B-0.3t%7D%20%5C%2C%20dt%20%20%2B%5Cint%5Climits%5E0_5%20%7B-140%7D%20%5C%2C%20dt%20%20%5C%5C%5C%5C%3D%5B100e%5Et%5D_0%5E5%2B%5B%20-140t%5D_0%5E5%2B%5B-0.3t%5E2%2F2%5D_0%5E5%3D%5B14841.316-100%5D%2B%5B-700%5D%2B%5B-3.75%5D%3D14038)
The profit is $14038
Answer:
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If the tax system in the US is progressive, then those with lower income will pay proportionally less than those with higher income as the latter will have a higher tax rate but in fact the rich people usually have or find a lot of tax loopholes to reduce their taxes so may still not be paying a fair share of their taxes compared to the poor people who don't have these loopholes.
