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:


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
Managerial Economics helps create utility for the Society.

Q. Explain the concept of demand function? Identical to the demand theory which pivots around the concept of demand function, theory of production revolves around the concept o

define scarcity and opportunity cost..

what is market

Determine the studies of Managerial economics Managerial economics studies the application of techniques, principles as well as concepts of economics to managerial problems of

Q. Explain about Managerial Economies? Large scale production makes possible the division of managerial functions. So there exists a production manager, a finance manager, asal

FACTORS RESPONSIBLE FOR WAGE DIFFERENTIALS WITHIN THE SAME OCCUPATION i.     Differences in the environment:   For example a doctor sent to North Eastern Province must be pai

Give short answer of following (a) Economics as a science. (b) Engineering Economics. (c) Economic Problem. (d) Meaning and characteristics of utility. (e)