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Economics

Q1. Let the marketplace for lobotomies be given by P=10,000-100QD and P= 100Qs-20000.

A) Illustrate what is the equilibrium price and quantity?

B) Illustrate what is the maximum price customers are willing and able to pay for 10 lobotomies?

c) Illustrate what is the minimum price at which 20 lobotomies will be supplied?

D) Illustrate what is the marginal benefit of 35 lobotomies?

E) Illustrate what is the marginal cost of 50 lobotomies?"

Q2. Illustrate what effect would customer expectations of substantial price increases in music players have upon the demand for portable music players in a completive marketplace

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9168206

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