Question
Quantity Retail Price Marketing Cost Farm-level Demand Price 2 $14 $5 $9 4 $12 $5 $7 6 $10 $5 $5 8 $8 $5 $3 10
Quantity Retail Price Marketing Cost Farm-level Demand Price
2 $14 $5 $9
4 $12 $5 $7
6 $10 $5 $5
8 $8 $5 $3
10 $6 $5 $1
Retail Demand: Q = 16- Pr
Farm Supply: Q = 2+0.5Pf
Marketing Cost Per unit: $5
How do I go about finding the following answers?
What's the equilibrium quantity?
What's the farm price at this quantity?
What's the retail price at this quantity?
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China Under Mao A Revolution Derailed
Authors: Andrew G Walder
1st Edition
0674975499, 9780674975491
