Just for (d)I'd like to know how to compute the producer surplus. Thanks! Drybar, a hair salon, faces a weekly demand for blowouts equal to qp = 1120 - 20P.The salon has weekly total cost of TC(q)=0.05q² + 20q + 500.(a) The minimum efficient scale (i.e., the quantity that achieves minimum average cost) is__.(b) The weekly marginal revenue for this salon is MR(c) This salon's profit maximizing level of output is__, price is__(d) When the salon produces at the profit maximizing level, the consumer surplus is__, theproducer surplus is__.(e) Suppose the salon can do first-degree price discrimination, consumer surplus is__andproducer surplus is_-

A firm will maximise profit at a point where marginal revenue is equal to marginal cost and price is…

Drybar, a hair salon, faces a weekly demand for blowouts eq The salon has weekly total cost of TC(q)=0.05q² + 20q + 50 (a) The minimum efficient scale (i.e., the quantity that achiev (b) The weekly marginal revenue for this salon is MR (c) This salon's profit maximizing level of output is__, price i (d) When the salon produces at the profit maximizing level, t producer surplus is. (e) Suppose the salon can do first-degree price discrimination producer surplus is_-

Drybar, a hair salon, faces a weekly demand for blowouts eq The salon has weekly total cost of TC(q)=0.05q² + 20q + 50 (a) The minimum efficient scale (i.e., the quantity that achiev (b) The weekly marginal revenue for this salon is MR (c) This salon's profit maximizing level of output is__, price i (d) When the salon produces at the profit maximizing level, t producer surplus is. (e) Suppose the salon can do first-degree price discrimination producer surplus is_-

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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