SEARCH:
  WebSite  
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.
 

Go Back   Freemason Hirams Travels Masonic Forums > Social Science > Economics

Economics Economics

Reply
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 03-21-2008, 09:15 PM
Member
 
Join Date: Mar 2008
Posts: 9
Rep Power: 0
PeteyPaul has a spectacular aura about
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
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump

Similar Threads
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


All times are GMT -5. The time now is 10:59 PM.


Powered by vBulletin® Version 3.7.2
Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.2.0

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154