Thread: microeconomics intro - monopoly pricing

Problem:
d) in this Skärmavbild 2012-10-08 kl. 15.16.41.png

Attempt:
I know how to set price if they pay for a ride, but not how to do it if you give a fixed price. Maybe it's something like

Calculations:
2012-10-08 15.16.29.jpg and 2012-10-08 15.16.37.jpg

1. false. The cross price elasticity is positive. Pork and beef are substitutes.The increase in income will go to pork.
2. true. The elasticity is unit or =1 where the revenue is maximized.
3.false. Total output will still increase with diminishing rate.


costmes, halloween costumes

1. false. The cross price elasticity is positive. Pork and beef are substitutes.The increase in income will go to pork.
2. true. The elasticity is unit or =1 where the revenue is maximized.
3.false. Total output will still increase with diminishing rate.


costmes, halloween costumes