Question: please do A/B Orange juice is supplied by 24 competitive juice producers each with a technology y=2 K2, and the price of capital (K) is
please do A/B
Orange juice is supplied by 24 competitive juice producers each with a technology y=2 K2, and the price of capital (K) is v = 2. (a) Find the individual firm's cost function (the cost of producing each level of output) C(y) = Please use fractions rather than decimals. (b) For a given price p, each firm will be choosing the quantity to sell at that price in order to maximize profit. Find the quantity it will supply at each price. y (P) = Please use fractions rather than decimals. (c) Your answer to the last part is the individual firm's supply. And the supply function for the market is found by knowing there are 24 such producers that are identical, so at each price the market will produce 24 times as much as the individual supply. Find the market supply function. Y (P) = Please use fractions rather than decimals (d) The markets for bottled water and juice are all interrelated as described by the following equations, Dw = 40 - 4.PW +4.PJ Sw = 4 +6. PW Dj = 180 6. Pj+3. PW where Dw is the quantity demanded of bottled water, Sw is the quantity supplied of bottled water, and Dy is the quantity demanded of orange juice. Solve for the equilibrium prices for bottled water and juice. PW = PJ = Note: Please leave all of your answers as fractions rather than decimals. Orange juice is supplied by 24 competitive juice producers each with a technology y=2 K2, and the price of capital (K) is v = 2. (a) Find the individual firm's cost function (the cost of producing each level of output) C(y) = Please use fractions rather than decimals. (b) For a given price p, each firm will be choosing the quantity to sell at that price in order to maximize profit. Find the quantity it will supply at each price. y (P) = Please use fractions rather than decimals. (c) Your answer to the last part is the individual firm's supply. And the supply function for the market is found by knowing there are 24 such producers that are identical, so at each price the market will produce 24 times as much as the individual supply. Find the market supply function. Y (P) = Please use fractions rather than decimals (d) The markets for bottled water and juice are all interrelated as described by the following equations, Dw = 40 - 4.PW +4.PJ Sw = 4 +6. PW Dj = 180 6. Pj+3. PW where Dw is the quantity demanded of bottled water, Sw is the quantity supplied of bottled water, and Dy is the quantity demanded of orange juice. Solve for the equilibrium prices for bottled water and juice. PW = PJ = Note: Please leave all of your answers as fractions rather than decimals
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
