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 $

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 $

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Springfield is a small town with a total civilian population of 800. Of this population, 125 are under the age of 16. Of the population 16 and over, there are 350 working full-time and another 50 working part-time. Of the remaining adult population, 30 people recently quit their jobs in order to look for better employment. Finally, there are 40 full-time students (not working), 180 retired and another 25 stay-at-home spouses.
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