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Category > Economics Posted 17 May 2017 My Price 4.00

inverse demand

assume that the inverse demand is given by the linear function P=A-BQ and that current marginal costs of production are c.

A. by how much would an innovation have to reduce marginal cost for it to be drastic innovation?

B. Use your answer to derive a condition on the parameters A, B and C that determines whether a drastic innovation is feasible ( Costs can't be negative)

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SuperTutor
(15)
Status NEW Posted 17 May 2017 07:05 AM My Price 4.00

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