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-John the plumber has the following weekly demand for repairs by his business: Q=2,000-10(P) Q=quantity of repairs deman
Posted: Wed Jul 06, 2022 5:54 am
by answerhappygod
- John The Plumber Has The Following Weekly Demand For Repairs By His Business Q 2 000 10 P Q Quantity Of Repairs Deman 1 (19.95 KiB) Viewed 6 times
-John the plumber has the following weekly demand for repairs by his business: Q=2,000-10(P) Q=quantity of repairs demanded by customers per week. P= average price per repair. The Total Cost per repair is 20-Q John chooses the price to charge to his customers (cause). The result (effect) will be the total number of repairs his customers want per week. A. Draw the demand curve faced by John the plumber. Numerically label its two end points. B. Solve the profit maximizing price and quantity. Label them on your diagram. How much are total profits? C. Label the Consumer Surplus on your diagram. Define Consumer Surplus, as well.