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ECO - Tad's bait shop has a monopoly on the bait market at Sanderson's Lake

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solution


Question

Question;Tad's bait shop has a monopoly on the bait market at Sanderson's Lake. The demand curve for bait is: QD=56 ? 8P? P = 7 -1/8 * QD.Tad has two employees he can use to search for bait. The marginal cost of using Amanda to search for bait is: MCM (QM) = ? * QM.The marginal cost of using Andrew to search for bait is:MCN(QN) = 3/8 * QN.a. Determine how many units of bait each employee should gather.b. What is the price Tad receives for selling the bait?

 

Paper#55952 | Written in 18-Jul-2015

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