Business, 16.04.2020 01:04 joejo1688

Suppose that a monopoly firm finds that its MR is $56 for the first unit sold each day, $55 for the second unit sold each day, $54 for the third unit sold each day, and so on. Further suppose that the first worker hired produces 5 units per day, the second 4 units per day, the third 3 units per day, and so on.

a. What is the firm’s MRP for each of the first five workers?

b. Suppose that the monopolist is subjected to rate regulation and the regulator stipulates that it must charge exactly $46 per unit for all units sold. At that price, what is the firm's MRP for each of the first five workers?

c. If the daily wage paid to workers is $194 per day, how many workers will the unregulated monopoly demand?

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 20:30

Mordica company identifies three activities in its manufacturing process: machine setups, machining, and inspections. estimated annual overhead cost for each activity is $156,960, $382,800, and $84,640, respectively. the cost driver for each activity and the expected annual usage are number of setups 2,180, machine hours 25,520, and number of inspections 1,840. compute the overhead rate for each activity. machine setups $ per setup machining $ per machine hour inspections $ per inspection

Answers: 1

Answer

Business, 22.06.2019 23:40

Elite coffee and bakery, a café that offers a relaxing environment to enjoy quality coffees, teas, soups, and other menu items, has a poster in the front of its restaurants that reads, "we will always provide a quality product to our customers better meet the challenges of their day and always take the time to offer caring service one person at a time." this statement is elite's

Answers: 2

Answer

Business, 23.06.2019 11:30

Eon inc., electravia inc., and fc inc., the three largest firms in the consumer electronics industry, hold close to 85 percent of the industry's market share. these companies mainly compete against each other by providing unique features in their products rather than pricing them low. these firms are interdependent, and each firm must consider the strategic actions of its competitors. which of the following industry competitive structures does this scenario best illustrate? monopolistic competition oligopoly monopoly perfect competition

Answers: 2

Answer

Business, 23.06.2019 12:40

Intoxicated and not aware of the consequences, umberto agrees to a two-year cell-phone service contract with wander talk, inc., at more than the average market price. this contract is not enforceable because the contract clearly favors wander talk. not enforceable because umberto was intoxicated enough to lack mental capacity when he agreed to it. not enforceable because contracting parties can change their minds. enforceable.

Answers: 3

Answer

You know the right answer?

Suppose that a monopoly firm finds that its MR is $56 for the first unit sold each day, $55 for the...

Questions