Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

economics question 4) Suppose Ford sells cars in Canada and the US. The inverse demand for cars in Canada is: pi(y1) = 20,000 - 20y1

economics question

image text in transcribed
4) Suppose Ford sells cars in Canada and the US. The inverse demand for cars in Canada is: pi(y1) = 20,000 - 20y1 The inverse demand for cars in the US is: Pr(yz) = 25,000 - 10y2 The cost for Ford of producing cars is given by: c(y) = 500, 000 + 20yz a) How many cars will Ford sell in Canada and at what price? How many cars will Ford sell in the US and at what price? b) What will Ford's profits be

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mining And The State In Brazilian Development

Authors: Gail D Triner

1st Edition

1317323580, 9781317323587

More Books

Students also viewed these Economics questions