Price Quantity 60 10 55 12 50 14 45 16 40 18 35 20 30 22 Use Table which contain

Question

Price Quantity

60 10

55 12

50 14

45 16

40 18

35 20

30 22

Use Table which contains a demand schedule for gymnastics lessons, the marginal cost is constant and equal to $10 per lesson. If there are two individuals who can provide these services, Dave and Carlos, and they decide to form a cartel, what will be their marginal revenue?

a. $60

b. $45

c. $40

d. $10

e. none of the above

Use Table which contains a demand schedule for gymnastics lessons, the marginal cost is constant and equal to $10 per lesson. The strategy in which Dave produces _________ units and Carlos produces __________ units is a Nash equilibrium.

a. 8,7

b. 8,8

c. 9,8

d. 10,10

e. 11,11

Use Table . Suppose Sebastian joins Dave and Carlos in giving gymnastics lessons. In the Nash equilibrium, they will produce a total of ___________ lessons.

a. 16

b. 18

c. 20

d. 22

e. none of the above

Explanation / Answer

Price Quantity TR MR MC 60 10 600 - 10 55 12 660 30 10 50 14 700 20 10 45 16 720 10 10 40 18 720 0 10 35 20 700 -10 10 30 22 660 -20 10 (a) marginal revenue 10 answer is D b) total quantity of lesson 16 anwser is B each will produce 8, 8 lesson c) they wiill produce total of 16 lesson answer is A

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.