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You are thinking about renting a room in a house next year with three of your friends. For each month's rent, you are willing to pay $435, your first friend is willing to pay $400, your second friend is willing to pay $560, and your third friend is willing to pay $460. The landlord agrees to offer each of you separate leases but will charge you all the same price: $400. You decide this is a good deal, so you and your friends move in. A couple of months later, you learn from someone who knows the landlord that he would have been willing to rent each room for $350 per month. 1. What is the amount of producer surplus per month?$ 2. What is the amount of total consumer surplus per month? $ 3. What is the amount of total surplus each month? $
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Business, 22.06.2019 21:30, mjstew00763
An allergy products superstore buys 6000 of their most popular model of air filters each year. the price of the air filters is $18. the cost of ordering and receiving shipments is $12 per order. accounting estimates annual carrying costs are 20% of the price. the supplier lead time is 2 days. the store operates 240 days per year. each order is received from the supplier in a single delivery. there are no quantity discounts. what is the store’s minimum total annual cost of placing orders & carrying inventory?
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Business, 22.06.2019 22:50, emanuelmorales1515
Amonopolist’s inverse demand function is p = 150 – 3q. the company produces output at two facilities; the marginal cost of producing at facility 1 is mc1(q1) = 6q1, and the marginal cost of producing at facility 2 is mc2(q2) = 2q2.a. provide the equation for the monopolist’s marginal revenue function. (hint: recall that q1 + q2 = q.)mr(q) = 150 - 6 q1 - 3 q2b. determine the profit-maximizing level of output for each facility. output for facility 1: output for facility 2: c. determine the profit-maximizing price.$
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You are thinking about renting a room in a house next year with three of your friends. For each mont...
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