ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Suppose ANT LLP produces computer chips, with the market elasticity of demand for the product being equal to 1.8. The marginal cost of production
is MC = 140 and the average total cost is ATC=215.
Assume ANT LLP is the only company in the market. What is the optimal per-unit price?
Suppose ANT LLP has a competitor, KKT LLP. Both firms choose quantities to produce simultaneously and independently. Determine the optimal per
unit price for ANT LLP:
Suppose now there are 11 firms in the market. Still, firms choose quantities to produce simultaneously and independently. Determine the optimal per
unit price for ANT LLP:
4
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Transcribed Image Text:Suppose ANT LLP produces computer chips, with the market elasticity of demand for the product being equal to 1.8. The marginal cost of production is MC = 140 and the average total cost is ATC=215. Assume ANT LLP is the only company in the market. What is the optimal per-unit price? Suppose ANT LLP has a competitor, KKT LLP. Both firms choose quantities to produce simultaneously and independently. Determine the optimal per unit price for ANT LLP: Suppose now there are 11 firms in the market. Still, firms choose quantities to produce simultaneously and independently. Determine the optimal per unit price for ANT LLP: 4
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