(40 pt.) a monopolist has a quadratic cost function c(q) = q2 + 12. the market demand is given by q(p) = 24 − p. a. (5 pt.) find inverse demand function p(q) and revenue function r(q). b. (5 pt.) write down the profit maximization problem of this monopolist. c. (10 pt.) determine the monopolist’s choice qm that maximizes profit by investigating the first- and second-order conditions. d. (10 pt.) find the price p m the monopolist would set up and calculate the profit at the monopoly outcome. e. (10 pt.) find market outcome (qc , p c ) in which the monopolist behaves as if in a competitive market, and calculate the profit at this outcome.

Acustomer has come to your department with an urgent question. you promised her that you would collect information about her question and answer it by noon. it will take you at least 20 minutes to gather the information needed to provide an answer. it is now 11: 50 a.m. your supervisor just scheduled a 30-minute meeting to start at noon. this meeting is for all employees in your department. you decide to:

You want to paint your room yellow, so you get some samples at the paint store. when you hold the sample against your white wall, it looks different from the way it looks against the green curtain. a psychologist would attribute this to perceptual constancy. visual paradoxes. contrast effects. threshold differences.

Big trail running company has started to produce running apparel in addition to the trail running shoes that they have manufactured for years. they feel that a departmental overhead rate would best reflect their overall manufacturing overhead usage. based on research the following information was gathered for the upcoming year: machining department finishing department estimated manufacturing overhead by department $ 600 comma 000 $ 400 comma 000 trail running shoes 440 comma 000 machine hours 11 comma 000 direct labor hours running apparel 60 comma 000 machine hours 39 comma 000 direct labor hours manufacturing overhead is driven by machine hours for the machining department and direct labor hours for the finishing department. at the end of the year, the following information was gathered related to the production of the trail running shoes and running apparel: machining department finishing department trail running shoes 442 comma 000 hours 10 comma 500 hours running apparel 57 comma 000 hours 40 comma 000 hours how much manufacturing overhead will be allocated to the trail running shoes