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2 answers:
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Complete Question
In a country in which people only want Girls, every family continues to have children until they have a Girl. If they have Girl, they stop. If they have boy, they will continuous have child. Assuming that the birthrate of Girl is 52%, what is the proportion of Girl in the country?
Answer:
0.52
Step-by-step explanation:
From the question we are told that
52% is the birthrate of Girls
Therefore
0.52 is the proportion of Girls to boys in that country
Answer:
Quantity = 59 units
Price = $111
Step-by-step explanation:
The Demand function is given by
The Marginal cost is given by
We are asked to find the quantity and price of goods.
Firstly, obtain the Marginal revenue function from the demand function
The Total revenue is given by
The Marginal revenue is the derivative of the Total revenue,
Assuming that the monopolist maximizes profits,
Therefore, the quantity is 59 units.
The price of each good is
Therefore, the price is $111.