ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Two Bistro restaurants, Bistro 1 and Bistro 2,  have demand functions for meals defined as Q1 = 44 – 2P1 + P2 and Q2 = 44 – 2P2 + P1. Bistro 2 cost per dish is $5.50, but Bistro 1 cost per dish is $8.

Instructions: Use no decimals. Use the average cost to calculate monopoly profits. Do not round if values are used to complete other calculations.

Complete the following table.

 

P1

P2

Q1

Q2

Profits Bistro 1

Profits Bistro 2

Bistro 2 colludes, Bistro 1 cheats w/ QDC

 

 

 

 

 

 

Bistro 2 colludes, Bistro 1 cheats w/ QBRF

 

 

 

 

 

 

 

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