Fezzes is perfectly competitive, Managerial Economics

The  fez is the typical Arabic hat in the shape of a short red cylinder. Historians believe it was manufactured in the city of Fes, in Morocco, during the 17th century. It has been used as a head cover of the Arabic world for centuries and was also adopted by the Ottoman Empire as part of its military uniform. The fez is still the most ordinary hat in North Africa and the Middle East; the hat was banned at the starting of 20th century in Turkey. Suppose that the city of Marrakech in Morocco has a daily demand for fezzes given by:

1800_aa.png

where Q is the total amount of fezzes formed.

a) Obtain the equilibrium price and quantity supposing that the market for fezzes is a monopoly.

b) Obtain the equilibrium price and quantity supposing that the market of fezzes is perfectly competitive.

 

 

Posted Date: 3/26/2013 3:25:16 AM | Location : United States







Related Discussions:- Fezzes is perfectly competitive, Assignment Help, Ask Question on Fezzes is perfectly competitive, Get Answer, Expert's Help, Fezzes is perfectly competitive Discussions

Write discussion on Fezzes is perfectly competitive
Your posts are moderated
Related Questions
Supply and Demand Discuss and analyze following statement: The Wall Street Journal reported that recent law school graduates were having a very difficult time obtaining jo


how manager can apply scarcity and oppotunity cost in managerial decision making

Significance of managerial economics Industrial and Business enterprises aim at earning maximum proceeds. In order to attain this objective, a managerial executive has to take

Q. Show Normal profit equilibrium? Normal Profits: With the condition of  MC = MR and MC cuts the MR from below, if E is the point of stable equilibrium, output of firm is OM

If the marginal product of L is MPL = 10K - L and the marginal product of K is MPK = 10L - K, then what is the maximum possible output when the total amount that can be spent on K

Desire for a commodity This validates that a want or a desire doesn't develop into a demand except it is supported by the ability and willingness to acquire it. For example, a

managerial principles to consider when determining level of output of afirm

Describe the Managerial functions A manager has to take numerous decisions that conform to the objectives of the firm. Several business decisions fall prey to conditions of ris

discuss the validity in zimbabwe of the grounds on which the profit maximising model of the firm has been defended