![]() | |
| SEARCH: |
| TheSpringGarden Plants & trees, gardening products & equiptment, homedecor | SunglassEyeglasses All stunning brand names sunglasses at the great prices | DIYHomeSupplies Do it yourself woodworking projects & home remodeling supplies | UnitedPlus Gift Ideas. Diecasts, Figurines, American Heroes, and much more |
| CarPartsAccessoriesEtc Search and shop for auto parts & accessories online. Simple & Convenient | Sewing Machines Top notch sewing machines, vacuums, and appliances. For home or commercial. | Patio & Landscape Ready for family united BBQ in the summer? A Large selection of outdoor furnitures | FontsWorld Looking for those cool fonts? Here, variety of all around the world fonts. Free Download. |
| |||
| Economics Question help!? Consider a town in which only two residents, Mike and Leah, own wells that produce water safe for drinking. Mike and Leah can pump and sell as much water as they want at no cost. For them, revenue equals profit. The table below shows the town's demand schedule for water. http://img112.imageshack.us/my.php?image=92684131ue4.png Suppose that Mike and Leah have been successfully operating as a cartel. They each charge the monopoly price and sell half of the monopoly quantity. Then one night before going to sleep, Mike says to himself, "Leah and I aren't the best of friends anyway. If I increase my production by 10 gallons more than the cartel amount, I can increase my profit even though her profit goes down. I will do that starting tomorrow." After implementing his new plan, Mike's profit becomes ______, and total profit (the sum of the profits of Mike and Leah) becomes _______. A. $3600; $0 B. $1600; $3200 C. $3500;$5300 D. $2000;$3500 |
| Bookmarks |
| Thread Tools | |
| Display Modes | |
|
|
| | ||||
| Thread | Thread Starter | Forum | Replies | Last Post |
| Can anyone please help me with this economics question? | Caroline L | Economics | 0 | 04-05-2008 02:57 PM |
| Economics Question? | Discommodious | Economics | 0 | 03-25-2008 10:22 PM |
| Economics Question..Best if you know about Economics? | Tiffani | Economics | 0 | 03-19-2008 12:21 AM |
| economics question? | Bob | Economics | 0 | 02-29-2008 03:04 PM |
| Economics Question!? | Channing Nicole | Economics | 0 | 02-23-2008 07:43 PM |