Statement: The first self-service laundry in Campo de Ourique, Self1, started in 2012, as a response to the needs of the

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Statement:The first self-service laundry in Campo de Ourique, Self1, started in 2012, as a response to the needs of the new type of residents, namely tourists, students, and immigrants. The laundry’s cost function was given by TC=100+2Q , where 𝑄 is the number of daily washing/drying cycles. The residents in Campo de Ourique had a daily demand for washing/drying given by P=6−0.005Q .
Question 1: Given the market structure in this setting, which will be the number of washing/drying cycles used in equilibrium and which will be the price of each?
options: A None of the options is correct.None of the options is correct.
B 𝑄=400 and 𝑃=2𝑄=400 and 𝑃=2
C 𝑄=800 and 𝑃=2𝑄=800 and 𝑃=2
D 𝑄=400 and 𝑃=4
questions:2 What were the values of the consumer surplus (CS), the producer surplus (PS), and the deadweight loss (DWL) in the previous equilibrium?
options: A None of the options is correct. None of the options is correct.
CS=400, PS=800 and DWL=400 B CS=400, PS=800 and DWL=400 CS=400, PS=800 and DWL=400
CS=1200, PS=0 and DWL=0 C CS=1200, PS=0 and DWL=0 CS=1200, PS=0 and DWL=0
CS=1500, PS=0 and DWL=0 D CS=1500, PS=0 and DWL=0
] Given the market structure in this setting, which will be the number of washing/drying cycles used in equilibrium and which will be the price of each?
options:A None of the options is correct.None of the options is correct.
B 𝑄=400 and 𝑃=2𝑄=400 and 𝑃=2
C 𝑄=800 and 𝑃=2𝑄=800 and 𝑃=2
D 𝑄=400 and 𝑃=4
questions 4: No more than one year after the opening of Self1, another firm entered the market, Self2, and is located side-by-side with Self1. Self2 has the same cost structure of Self1, and both firms compete in quantities. Demand is still given by P=6−0.005Q .options: A P=4 and πi=350 P=4 and πi=350
P=2 and πi=0 B P=2 and πi=0 P=2 and πi=0
C None of the options is correct. None of the options is correct.
P=3,(3) and πi=255,(5) D P=3,(3) and πi=255,(5)
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