Question
Assume a two consumer world: The demand for consumer 1 is: P = 100 - Q The demand for consumer 2 is: P = 90
Assume a two consumer world:
The demand for consumer 1 is: P = 100 - Q
The demand for consumer 2 is: P = 90 - Q
MC = ATC = $12
The current price is $12
a.Assume a firm charges each person the maximum entrance fee.What would each person pay?
b.Assume a firm charges each person the same entrance fee what would each person pay?
c.Assume the entrance fee is the same for each person and the firm also decides to charge a $20 price.What entrance fee should the firm charge each person?How much is the firm's profit?Is the profit higher or lower than in question b above?How much higher or lower?
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Computer Architecture Fundamentals And Principles Of Computer Design
Authors: Joseph D. Dumas II
2nd Edition
1032097337, 978-1032097336
