3. Failure of a cartel agreement Consider a city where only two inhabitants, Jacques and Kyoko, have wells that produce drinking water. Jacques and Kyoko can pump and sell as much water as they want, for free. For them, the total turnover corresponds to the profit. The following table shows the city`s water demand plan. Price Total asking income (dollars per gallon) (gallons of water) (dollars) 3.00 2.75 50 137.50 $2.50 100 250.00 $2.25 150,337.50 $2.00 $200 $400.00 $1.75 250,437.50 $1.50,300 $45 $0.00 1.25 350,350 $437.50 $1.00 400,400.00 $400.00 0.75 450 337.50 0,500 500 $250.00 $0.25 550 137.50 $600 Taken Jacques and Kyoko form a cartel and behave like a monopolist. The profit-maximizing price is $per gallons and the total production is gallons. As part of their agreement, Jacques and Kyoko agree to share the production equally. Therefore, Jacques` profit and Kyoko`s profit is $Suppose Jacques and Kyoko worked successfully as a cartel. They each calculate the monopoly price and sell half the monopoly quantity. Then, one night before bed, Jacques thought, “Kyoko and I aren`t best friends anyway. If I increase my production to 50 gallons more than the amount of the cartel, I can increase my profit even if their profit decreases.
I will do it from tomorrow. %3D Hey, guys, welcome back to this problem. Some graphic battles. Well, look at the two linear functions that make up the graph for the first line function. Says the fee is five cents on $1.5. Why, yes, year of five. And if you get zero gallons of water, obviously because $0. So this line must be the origin, and this is the Y-Intercept Zero and B is your we have achievable 2.5 We can start here from scratch by running a song. Wise function. It is a sea of W. Our first part appears 0.5 w It`s accurate up to 5000 gallons you are for zero.
That`s only 10 w the last five. And now our graph will look like this very rough sketch This point here, if w is a total of 5000 minds in both trades, let`s find out that this point is plugged into our first equation. So why 5000 zeal? 2.5 times five 1000. Calculate that. It turns out to be 200 so far. And now? For our second line, it is the fee doubled by 10 cents per gallon. Our second-line equation will be. Why the number 2.1 u plus b. This case B is not zero. We will now insert a point.
We know that the 0.0.5000 to 50 exist on this line. Put it back in 2 50 0.1 five 1000 plus B. Consol for B B is equal to minus 2 50 This equation will be why will 0.1 w heads to fit noted 0.1 w less on the W is larger than in this room of the wise desert, I just want to edit the graft on today and this was requested by my night No, five, One, 95 years of Europe Mon at 50 equals 950 minus 2 50 equals 700 dollars. The 9500 gallon C is equivalent to seven $100 Found a piece of ice to find the Appearance feature we designed We had a rough sketch in a Dismas ship. Then we found the price of 9500 gallons. Thank you for watching. . Many southwestern states have limited water supplies, and some state governments are trying to control consumption by manipulating the cost of water use. Suppose that for the first 5000 gallons a household consumes per month, the fee is $0.05 per gallon. Once 5000 gallons are used, the fee doubles to $0.10 per gallon. Write these fees for water consumption as a piecemeal function $C (w), where $C (w) $ is the cost of $w gallons of water, and specify the domain for each room. Next, sketch the graph and determine the cost for a household that consumed 9500 gallons of water during a very hot summer month.
Experts wait 24/7 to provide step-by-step solutions in just 30 minutes!* By clicking Sign Up, you agree to Numerade E-MailWhoops` Terms of Service and Privacy Policy, there may be a typo in your email. Click “Connect” if it is correct in Mathematics |x| a real number x is its numerical value regardless of its sign. The absolute value of a number can be considered as its distance of zero along a line of numbers; This interpretation is analogous to the distance function assigned to a real number in the real number system. For example, the absolute value of ?4 is 4 and the absolute value of 4 is 4, both without taking into account the signs. .
