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Eco 550 week 3 chapter questions
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Eco 550 week 3 chapter questions

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  • 1. ECO 550 Week 3 Chapter QuestionsClick this link to get the tutorial:http://homeworkfox.com/tutorials/economics/4263/eco-550-week-3-chapter-questions/Week 3 Chapter 5 Question 1010. [Requires calculus] A perfectly competitive firm faces a market price of $10 forits output X. It owns two plants, A and B, whose total costs are+ 2X + :25X2+ :4X + :1X2.How many units should each plant produce to maximize profit at that price?Week 3 Chapter 6 Question 55. Give a numerical example to show that a monopolist’ s marginal revenue can beupward-sloping over part of its range. Hint: The price on the demand curve is theproducer’s average revenue. Think of the graphic in Chapter 4 that showed the possibilityof declining average costs while marginal costs were increasing.Week 3 Chapter 6 Question 1414. A monopolist has two types of customers. There are 100 of Type A, who will each payup to $10 for a single unit of the good, and 50 of Type B, who will each pay up to $8.Neither is willing to purchase additional units at any price. If it must charge a uniformprice, find that price.

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