Wood planks producer show in the market, Managerial Economics

Assignment Help:

ChoppinAxe is a little Swedish firm that produces wood planks and operates in a perfectly competitive market. Each firm in the market has the following total cost function:

246_aa.png

where Qi shows the tons of wood planks each firm i produces. ChoppinAxe and all other firms sell their products to only one buyer, IPEA, an international furniture company. IPEA's total demand for wood planks can be described as follows:

2166_aa.png

where p is the price for a ton of wood planks. You may suppose that the market is in equilibrium. 

a) Find ChoppinAxe's supply curve.

b) How many tons of wood planks will ChoppinAxe sell to IPEA? At which price?

c) Repeat sub questions (a) and (b) for KindCutters, another wood planks producer show  in the market.

 

 

 

 

 


Related Discussions:- Wood planks producer show in the market

Cheapening of materials and equipments, Q. Cheapening of Materials and Equi...

Q. Cheapening of Materials and Equipments? Expansion of an industry increases the demand for different kinds of materials and capital equipments. This will result in large scal

Price elasticity of two parallel demand curves, It can be geometrically pro...

It can be geometrically proved that two elasticity are equal, which is., QB=RD Let's first consider ΔAOB. If we draw a horizontal line from point Q to intersect the vertical axis a

Measures to control inflation, Measures to control inflation An inflat...

Measures to control inflation An inflationary situation can effectively be addressed/tackled if the cause is first and foremost identified.   Governments have basically three

Show the fixed proportion production function, Q. Show the Fixed Proportion...

Q. Show the Fixed Proportion Production Function? A fixed proportion production function is one in that technology needs a fixed combination of inputs, say labour and capital,

Infant industry argument - reason for protection, Infant Industry Argument ...

Infant Industry Argument Advocates of this maintain that if an industry is just developing, with a good chance of success once it is established and reaping economies of sale,

Average propensity to save, Average Propensity to save The Average Pro...

Average Propensity to save The Average Propensity to Save [APS] is defined as the fraction of aggregate national income which is devoted to savings.  Thus if S denotes savin

Describe the application of economic theories, Describe the Application of ...

Describe the Application of economic theories Pertinent business decisions necessitate an unambiguous understanding of the environmental and technical conditions under which bu

Balance of payments, BALANCE OF PAYMENTS The Balance of Payments of a ...

BALANCE OF PAYMENTS The Balance of Payments of a country is a record of all financial transactions between residents of that country and residents of foreign countries.  (Resi

What do mean by convex isoquant, Q. What do mean by Convex Isoquant? I...

Q. What do mean by Convex Isoquant? Isoquants are convex to the origin: At any point of an isoquant,the slope is negative. Its numerical value measures the marginal rate of te

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd