The table below shows the monthly demand schedule for a good in a duopoly market. The two producers in this market each face $4,800 of fixed costs per month. There are no marginal costs. Price ($) 40 35 30 25 20 15 10 Quantity TŘ ($) MR ($ - 200 400 600 800 1,000 1,200 1,400 1,600 7,000 12,000 15,000 16,000 15,000 12,000 7,000 35 25 15 -5 -15 -25 -35 5 Instructions: Enter your answers as a whole number. a. If they evenly split the quantity a monopolist would produce, the monthly profit for each duopolist is $ b. Suppose duopolist A decides to increase production by 200 units. Duopolist A will now produce units and charge a price of $ Duopolist B will now produce units and charge a price of $ The monthly profit for duopolist A is $ The monthly profit for duopolist B is $

Suppose we are again given 20 tulip bulbs that are very similar in appearance. Information on this new set of tulips is summarized below: Early (E) Late (L) Totals Red (R) Yellow (Y) Totals 5 5 10 5 5 10 10 10 20 What is P(Y)? (Enter the probability with two decimal places)

2x+3z = 5 and 3x+2z = 5. The value of both x and z is A/

A merchant who sells newspapers and magazines at the corner kiosk heard you manage the Times’ inventory and asks for your advice. She has a small, variable number of customers who daily purchase the Chicago Sun Times. In order to get the newspapers in time, she has to place an order for the next day’s newspapers before noon. She pays $0.50 for each newspaper and sells them for $1.50 each. She has kept detailed records of her past sales of the Chicago Sun Times and estimates that 10% of the time she sells 10 newspapers, 40% of the time she sells 11, 30% of the time she sells 12, and 20% of the time she sells 13. (a) What is the merchant’s marginal profit and marginal loss? (b) Determine how many Chicago Sun Times newspapers she should buy every day to maximize expected profits. (c) Calculate the merchant’s expected profits for the optimal order quantity. (d) The merchant has always purchased 13 newspapers, thinking that the best way to maximize profits was to always meet the demand.…

Consider a class with 80 enrolled students. None of the students were ill at the beginning of the school year. On August 30th, 10 students reported having a common cold. All continued to be ill on September 1st, but all 10 recovered within 3 days. On September 15th, 5 more students had a cold. All of these students continued to be ill on September 16th, but all recovered 5 days later. In this example, assume that a person cannot have a cold more than once.calculate the cumulative incidence of the common cold in the class during the month of september

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Find the price and income elasticity of demand for the following demand functions at the given point on demand.