Consider a city of 200 people (100 rich and 100 poor) and two neighborhoods (100 people in each). both groups generally prefer to live with rich people and are willing to pay a premium for living with a fraction of rich people that is larger than 50%. poor people’s premium curve is given as p(poor)= 0.9x^2, where x is the percentage ofrich above 50% (e. g., if there are 52% rich, x will be 2). rich people’s premium curve is given by p(rich)= 35x-0.1x^2. what is the equilibrium outcome? explain.

Miller company’s total sales are $171,000. the company’s direct labor cost is $20,520, which represents 30% of its total conversion cost and 40% of its total prime cost. its total selling and administrative expense is $25,650 and its only variable selling and administrative expense is a sales commission of 5% of sales. the company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. required: 1. what is the total manufacturing overhead cost? 2. what is the total direct materials cost? 3. what is the total manufacturing cost? 4. what is the total variable selling and administrative cost? 5. what is the total variable cost? 6. what is the total fixed cost? 7. what is the total contribution margin?