Suppose the inverse demand curve on ore is given by P = 72 - 0.44 Q. Ore can be either mined or obtained through a recycling program. The marginal cost of mining is MC1 = 6 q1. The marginal cost of obtaining ore through recycling is MC2 = 14 + 4 q2. What percent of total demand is satisfied by recycled ore (express your answer in percentage, i.e., if the answer is 45.34% then enter 45.34)? Please answer in short
Suppose the inverse demand curve on ore is given by P = 72 - 0.44 Q. Ore can be either mined or obtained through a recycling program. The marginal cost of mining is MC1 = 6 q1. The marginal cost of obtaining ore through recycling is MC2 = 14 + 4 q2. What percent of total demand is satisfied by recycled ore (express your answer in percentage, i.e., if the answer is 45.34% then enter 45.34)? Please answer in short
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter8: Cost Analysis
Section: Chapter Questions
Problem 2.2CE
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Suppose the inverse demand curve on ore is given by P = 72 - 0.44 Q. Ore can be either mined or obtained through a recycling program. The marginal cost of mining is MC1 = 6 q1. The marginal cost of obtaining ore through recycling is MC2 = 14 + 4 q2. What percent of total demand is satisfied by recycled ore (express your answer in percentage, i.e., if the answer is 45.34% then enter 45.34)?
Please answer in short
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