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    130537

    Uploaded by

    merly chermon
    7 views8 pages

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    20221213_130537

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    7 views8 pages

    130537

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    merly chermon

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    of 8
    oi £30) 9424. aienpursnf-s9ded op 2} 00 aoU paau no 9F304'980M 20 JO joodesn ou) pomoye sayin Spo 20 Budo> oN WE TWNCINGNI UES! SIAL you 'syo0q ss104 430 fue osm LON AEWWAOA & ‘pomoies: oo J0- paen aq ue> SeRUED HEY OO 55 caer juror a4) son) ate Bunton 29 sus}g01831D28 es wae “Gonouuone said vat sep 211 poe 1134108} eae aensyase) uo uals Kus 23986} 0\Ndw2 MOK 250 E> 1A sue swonpueo Bumoy0} x9 si 9g 09 Yodo SHWE 9 ‘yqsrod od ‘gc omy senue> 0} wera ayn yugns pue a240> 01 BINUNL ST HE AOA eeor ea ‘ve wera UP2ND ‘won wor seyuouo93 euadeueH o0¥5 236 1. Candice’ Coffee Shop in Clayton is competing inthe perfectly competitive Colfee shop industry. Candice’s relevant cost information are Tc=250+050+ 0.0250" mc=05+0.050 ‘Assume the price fora cup af coffees $4.50 at allthe shops in the area. 1. [2points] How much should Candice produce tomorrow (ie,in the short stay the same (and are Candice stay open next year cup of coffee? 2 Stephen and Peter are bth deciing whether to build an action park justo emus in Unversity City to serve Wash students who wantto bon as ole ‘eam (Action parks have go cart racing laser tag, axe trowing, and spot ar 're2s) They have both independently estimated the demand eee tone, P=34-4Q Where quantity is the thousand square meters ofthe facility each wil build, ‘Stephen s abit morectficient than Peter. ™ Mc ‘A. [6points] Find the best response function for Stephen and for Peter 8. [4 points Find the equilibrium quantity in thousands of square meters) for both steph about rescaling it) Csonn3ase ey 3. Now suppose that Rocket Property Management (@) and Drax Commercial ) are competing for the management contracts to manage the 3 Nebula and Gamora. Because they have the ability tomanage the commercial space they are playing a Bertrand pricing game. Customers ve management companies as interchangeable: ardless of which company manages: ch frm sets (Le, Prand Pel,and how does each company provide i.e. Qe 43. Now assume that Peter gets to buldhis facility first, and then Stephen gets to buildin response. 8, [2points] How much capacity will Stephen build? de wile bi faaliy ted he enon jess response Ranchior, 4-4 @)E a -botanad)"ar aia sap) 4 ar per chose bs Revere, = ¢ 4, It’s been a year since Peter and Stephen have finshed building thei factes, ‘They have unfortunately realized that they have bult WAY too much capacity - ‘they are always wel less than half fll, Peter and Stephen stat offering coupons and discounts ta students to entice them to goto their action park instead ofthe other one (the students sce them as essentially the same offering, and go to the one with the cheaper price) Stephen ultimately decide to offer and what price sure to explain how you got these answers) int that good for either of them. especialy Pete} hey could do to improve the 3m parks? (Be sure to explain 5. Suppose the demand and supply for WashU tshirts sold by the GBSA are: p= 400-207 Q.=-200+40? sm price is $10, and the numberof shirts sold is 200. The elasticity icity of supply is 2a this equilibrium. (Youcan check my, 1 want, but no need to show me those ae the right answers) ‘Assume the university decides to place a$3 surcharge (ie, atax) on the sale of the shirts in order to help fund student organizations atthe other Wash schools. 1A {2points} what s the price that GBSA wil get to keep foreach shirt sold? at. + Pre Port Peed OE thugs in plot pies Mette iew Qyeee2) os Cage ass it oa Lae Tax . Seon inthey buy? ora [eq | 6, ‘thinking of designing a new “values based economics (VBE)"

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