Answer:
Monopolist profit maximizing price
A: $3 per gallon , total output =270 Kelvins profit = $810(801/7/2 = $405
Maria's profit = $405
B. $2.5 per gallon . Kelvin's profit =$450 Maria's profit = 337.5
C = False. At the same quantity , fall in price brings fall in revenue
Cournot Nash equilibrium
Explanation:
In a monopolist market system , price are set higher than the marginal cost as the producer enjoy the dominance of the market through the production of a unique good.
At the price of $3 , change in demand =(270-225) =45 , change in revenue = ($810-$787.50)22.5 and marginal revenue = (45/22,5) = 0.5. That forms the maximizing price for a monopolist.
On the new arrangement , price drops to $2.5 , Maria's profit =(315-45/2)2.5 = $337.5 and Kelvin's = ($787.5-337.5) = $450
Cournot Nash equilibrium is business model that explains the competition among rival companies producing similar product on the level of output produced independently.
Answer: Answer is 1
Explanation:
In a market economy, a high price is a signal for producers to supply more and consumers to buy less.
Well, through commercials, but they were mainly successful because everyone (almost) knows and trusts Apple, so when the latest product is released, everyone flocks to it because it's new, cool, sleek, and awesome.
They also do partnerships with Verizon and Sprint or whatever.
False - because not every business plans work
Answer:
Current price of house = $222,000
Explanation:
given data
property that sold = $275,000
values decreasing at rate = $2,000 per week
Each bedroom = $30,000
a bathroom = $15,000
solution
we get here Price of 3 bedroom & 3 bathroom house (4 weeks ago) is
Price of 3 bedroom & 3 bathroom house (4 weeks ago) = $275,000 - $30,000 - $15,000
Price of 3 bedroom & 3 bathroom house (4 weeks ago) = $230000
and
reduction in price at $2000 per week for 4 weeks= 4 × 2000
reduction in price at $2000 per week for 4 weeks = ($8,000)
so
Current price of house = $230000 - $8,000
Current price of house = $222,000
