Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
The Unisex International Haircutters, Inc., faces the following demand function for haircuts per day: QD = 240 – 20P
A. Draw a figure showing the demand curve and the corresponding marginal revenue curve of the firm. On the same figure draw a typical MC, ATC, and AVC curve showing that the best level of output is 80 haircuts per day, and that ATC = $10 and AVC = $6 at Q = 80.
B. How much profit or loss per haircut does the firm have? Does the firm remain in business in the short run? Why?
2. A two-firm cartel producing industrial diamonds faces the following demand function:
Q = 120 – 10P or Q = 12 – 0.1P
The MC and the ATC functions of each firm are, respectively,
MC 1 = 4 + 0.2Q 1 and ATC 1 = 4 + 0.1Q 1
MC 2 = 2 + 0.2Q 2 and ATC 2 = 2 + 0.1Q2
Draw a figure showing the best level of output and price for the cartel, and the output of each firm to minimize the total costs of production for the cartel, and calculate the profits per unit and in total for each firm.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more