Consider monopoly firm that produces diamonds. this firm sells in two different markets, one is completel sealed off from the other. the inverse demand curve for the firms produc in the first market (market 1) is p=16-0.5. The inverse demand curve in the second market (market 2) is p=26-0.5q. The cost function is c(q)= 10a. the government imposes a unit tax t=1 on quantity sold in each market and the firm can charge different uniform prices in different markets. what price should the firm charge in each market to maximize profits

Speedy auto repairs uses a job-order costing system. the company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. the company applies all of its overhead costs to jobs based on direct labor-hours. at the beginning of the year, it made the following estimates: direct labor-hours required to support estimated output 20,000 fixed overhead cost $ 350,000 variable overhead cost per direct labor-hour $ 1.00 required: 1. compute the predetermined overhead rate. 2. during the year, mr. wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. the following information was available with respect to his job: direct materials $ 590 direct labor cost $ 109 direct labor-hours used 6