Compare the outputs of a monopoly and a duopoly for the following price function. p = 18 -0.005x dollars (0 ≤ x ≤ 2600) Complete the following. (a) For a monopoly, calculate the quantity x that maximizes your revenue. x 1800 For a monopoly, calculate the price p. P $0 For a monopoly, calculate the revenue R. R = $ 16200 (b) For the duopoly, calculate the quantities and y that maximize revenue for each duopolist. x = 900 y 900 x x For the duopoly, calculate the price p. P= $ 14.62 X For the duopoly, calculate the two revenues d₂ and d₂. d₂ = d₂ = (c) Are more goods produced under a monopoly or a duopoly? O More goods are produced in a monopoly. More goods are produced in a duopoly. (d) Is the price lower under a monopoly or a duopoly? The price is lower in a monopoly. The price is lower in a duopoly.

You have 5 kids and work 2 jobs to help support your family. You work a day job from 8:00 am to 4:00 pm Monday through Friday.  You also cut hair at one of the local barber shops on Saturdays and Sundays.  On Saturdays you normally work from 7:00 am to 7:00 pm and make pretty good money because the shop is always full on the weekends.  Your wife is concerned that you are not spending enough time with the children because you work all of the time.  Using production possibilities analysis, show a situation where you decide to increase the amount of time on Saturdays that you hang out with the kids from 2 to 5 hours.

Quantity Total Cost MarginalCost Price Total Revenue Marginal Revenue Produced $100 $120 $150 $120 $202 $120 3 $257 $120 4 $317 $120 $385 $120 6 $465 $120 7 $562 $120 $682 $120

Could you answer parts D-F please?