ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- Assume the industrial conditions of red pepper production in the market for homogeneous products there are many manufacturers where each manufacturer has a market share (market share) the same, relatively small and can not affect the price of the change strategies carried out by these manufacturers in the market. If it is known that the function the demand is Q = 2000-P, and the total cost of each manufacturer is the same that is, TCi = 100 + 5q2i. Where Q = [2]I qi, where i is the producer of i and i is 1, 2, 3,..., n. Questions: - What is the number of companies in the long term of the competitive marketi perfect for this homogeneous product, where every company has the same market share? - What is the selling price of thi product in market? - Calculate the Herfindahl-Hirschman Index (HHI) of the red pepper producer industry here!arrow_forwardCost, revenue, and profit are in dollars and x is the number of units. Suppose that the marginal revenue for a product is MR = 1800 and the marginal cost is MC = 90Vx + 4, with a fixed cost of $600. (a) Find the profit or loss from the production and sale of 5 units. There is a -Select-- | of $ (b) How many units will result in a maximum profit? unitsarrow_forwardHow is the benefit-cost analysis an important feature of the economic analysis method?arrow_forward
- Hi hlo Expert Hand written solution is not allowed.arrow_forwardIf marginal cost is given by dc/dq= q? + 7q + 6, and fixed costs are 2500, determine the total cost for producing 6 units.arrow_forwardOne study presented in the text calculated the cost per life-year saved for various medical interventions. For each of the scenarios that follow, determine whether the scenario represents diminishing marginal product of medical care. If it does, determine whether the diminishing marginal product is on the extensive or intensive margin. Please completely explain your answer to each scenario. a) Intervention: Pap Smear, Starting at the Age of 20, Continuing to 74. Every 3 years, compared to not screening: Cost per life year saved = $36,017 Every 2 years, compared to every 3 years: Cost per life year saved = $711,671 b) Intervention: Hypertension Screening 40-year-old males: Cost per life year saved: $41,279 40-year-old females: Cost per life year saved: $63,333arrow_forward
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