Question: i attach the question i need as soon as possible Suppose an economy is composed of a single consumer and one productive sector producing commodity
i attach the question i need as soon as possible
- Suppose an economy is composed of a single consumer and one productive sector producing commodity ????. Let the consumers demand function be ????(????) = ln(????)/???? where ???? > 0. Compute the consumer surplus up to the equilibrium quantity denoted by ????.
2.Suppose P1 (Q) and P2 (Q) are demand and supply curves, respectively, where P1 (Q) = 100e 0.03Q and P2 (Q) = 20e 0.05Q and where price P is in dollars for a quantity Q. Suppose there is a quantity regulation (quota) at 10 units. (A) What is the deadweight loss associated with this regulation? (B) How much consumer surplus is lost from the effects of this regulation?
3.A monopolist sells a product in three countries. The demand Q as a function of profit P in each country is Q1 = 45 P1/2, Q2 = 50 P2/3, Q3 = 75 P3/4. Suppose the total cost for the monopolist is TC = 30 + (Q1 + Q2 + Q3 ) 2 . If the monopolists profit function is = TR TC, where TR = P1Q1 + P2Q2 + P3Q3 then find the profit maximizing demand and the associated total revenue TR.
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