Business, 28.11.2019 19:31, chickenwing32
Chegg a monopolist with cost function c(q) = f + q serves a market with demand d(p) = 5 β p. note that the average cost function of the monopolist is decreasing. this corresponds to the "natural monopoly" case we mentioned in class.
(a) what quantity would the monopolist sell in the market and what would be the market price if f = 3? what if f = 5? how much profit does the monopolist make when f = 3 or when f = 5?
(b) assume f = 5. the government is considering to offer a subsidy s per unit to the monopolist. what is the optimal value of s if the government wants to maximize total surplus?
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At a small store, a customer enters the front door on average every 8 minutes. a prior study indicated that the time between customers entering the front door during weekdays follows an exponential distribution. what is the probability that the time between customers entering the store on a weekday will be less than or equal to 7? select one: a. 62 b. 43 c. 1/8 d. 7/8 e. 58
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Chegg a monopolist with cost function c(q) = f + q serves a market with demand d(p) = 5 β p. note th...
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