Question
A monopolist sells its product in two separate markets
with different price elasticities of demand. The marginal cost of production is constant at $20 per unit. The price elasticity of demand in Market 1 is −2-2−2 and in Market 2 is −3-3−3. What are the profit-maximizing prices in Market 1 and Market 2?Solution
To find the profit-maximizing prices, we use the formula from monopoly learner index/monopoly power- L= ((P-MC)/P) = 1/e => P = (MC/(1-1/e)) Given MC and e for both markets P1= 40 and P2= 30.
According to Article 316 of the Constitution of India , who is responsible for appointing the Chairman and other members of a Public Service Commission...
Alibi is governed by
Right to private defence commences when______ and continues till ________.
If right to private defence is subjected to risk of harm to innocent person_______________?
Act of guardian giving consent on behalf of a child for his benefit in good faith below ________ years is___________:
Acts of necessity are covered as a valid defence under which section of the IPC?
Z is carried off by a tiger. A fires at the tiger knowing it to be likely that the shot may kill Z, but not intending to kill Z, and in good faith inten...
Which of the following Sections of Indian Penal code provided for defences based on this maxim- “ De minimis non curat lex”?
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Part III of the Constitution of India provides for Equality of opportunity in matters of ____________ employment.
Communication made in good faith as per S. 93 of IPC should be:
