Illustrate what is the efficient price of water

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Reference no: EM1315118

Q1. Assume the firms in a five-firm industry have market shares of 60, 20, 10, 5 also 5 percent, particularly. The Her find all index for the industry is:

Q2. Consider a water project in a region which supplies water to both industrial also agricultural uses. Their demand functions for water are particularly:
Qind = 6 - P
Qag = 12 - P

The water project has a capacity limit of S = 18 also the marginal cost of water supply is
constant at 1.

(a)Illustrate what is the efficient price of water? Illustrate what are the quantities of water allocated to agricultural also industrial use?

Reference no: EM1315118

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