11.4 Universal Widget produces high-quality widgets at its plant in Gulch, Nevada, for sale throughout the world....

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11.4 Universal Widget produces high-quality widgets at its plant in Gulch, Nevada, for sale throughout the world. The cost function for total widget production (q) is given by total cost = 0.25g. Widgets are demanded only in Australia (where the demand curve is given by g-100-2P) and Lapland (where the demand curve is given by q100-4P). If Universal Widget can control the quantities supplied to each market, how many should it sell in each location in order to maximize total profits? What price will be charged in each location?

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Microeconomic Theory Basic Principles And Extensions

ISBN: 9780324585377

10th Edition

Authors: Walter Nicholson, Christopher M. Snyder

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