Firm 1 will be given a quota of 692.31 units, and Firm 2 will be given a quota of 307.69 units.
To determine how the government agency will divide the 1000 units of pollution between the two firms, we need to consider their marginal costs of pollution abatement and the constraint that their combined pollution cannot exceed 1000 units.
Let's solve for the optimal allocation using the given marginal cost functions:
1. Set up the optimization problem:
Maximize total pollution abatement subject to the constraint:
x₁ + x₂ ≤ 1000
2. Determine the marginal cost functions for each firm:
Firm 1's marginal cost of pollution abatement: c₁(x₁) = 6000.00 + 4.00x₁
Firm 2's marginal cost of pollution abatement: c₂(x₂) = 1500.00 + 8.00x₂
3. Formulate the objective function:
Maximize c₁(x₁) + c₂(x₂)
4. Solve the optimization problem using the given constraint:
Subject to x₁ + x₂ ≤ 1000
By substituting the marginal cost functions, the problem becomes:
Maximize (6000.00 + 4.00x₁) + (1500.00 + 8.00x₂)
Subject to x₁ + x₂ ≤ 1000
5. Solve the optimization problem to find the optimal allocation:
By solving the problem, we find that x₁ ≈ 692.31 and x₂ ≈ 307.69.
Therefore, the government agency will allocate a quota of approximately 692.31 units to Firm 1 and a quota of approximately 307.69 units to Firm 2 to ensure that the combined pollution does not exceed 1000 units.
The complete question is:
Two firms operate in a manufacturing industry that generates a significant amount of pollution. The local government has decided to crack down and limit the total amount of pollution to 1000 units. Each firm has a different cost of cleaning up its production process. Firm 1's marginal cost of pollution abatement is c₁(x₁) = 6000.00 +4.00 x₁ and firm 2's marginal cost of abatement is C₂(x₂) = 1500.00+ 8.00(x₂), where x₁ and x₂ are the amounts of pollution emitted by each firm. The two firms are constrained to produce no more than the 1000 units of pollution combined. 1st attempt See Hint
Suppose that a government agency is able to estimate the pollution abatement equations and set quotas for each firm. How will it divide up the 1000 units of pollution between the two? Give all answers to two decimals.
Firm 1 will be given a quota of____ units and firm 2 will be given a quota of ___units.
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The price elasticity of demand measures the responsiveness of quantity demanded to a change in price, indicating how much the quantity demanded changes when there is a change in the price of a product.
The correct answer is C) responsiveness of quantity demanded to a change in price. The price elasticity of demand measures how responsive the quantity demanded of a good or service is to a change in its price. It helps us understand how much the quantity demanded changes when there is a change in the price of a product. For example, if the price of a luxury car increases by 10% and the quantity demanded decreases by 20%, the price elasticity of demand would be 2, indicating that the demand is elastic.
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Price elasticity of demand measures how a change in price affects the quantity of a commodity demanded, i.e., it gauges the responsiveness of quantity demanded to price changes. The answer is C) responsiveness of quantity demanded to a change in price. Elasticity can be elastic, inelastic, or unitary.
The price elasticity of demand measures the responsiveness of the quantity demanded to a change in price. Specifically, it is the ratio between the percentage change in the quantity demanded (Qd) and the corresponding percent change in price. This concept is used to understand how sensitive the demand for a good is to a change in its price. Hence, the correct answer is C) responsiveness of quantity demanded to a change in price. An elastic demand indicates that quantity demanded is significantly affected by price changes while an inelastic demand indicates a lesser effect. The concept of unitary elasticity notes an equal percentage change in quantity demanded to the change in price.
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Answer:
Option C.The payment made by Cordelia but not the payment made by Rupert.
Explanation:
Based on the information given we were told that Rupert did the right thing and as well follow the due process and custom of the country because he fills out the license paperwork and as well takes the license paperwork to the correct office in which he pays the front desk person the amount of $100 to process the paperwork while Cordelia on the other hand violated the Foreign Corrupt Practices Act reason been that due to the connections she had in that country she went ahead to schedules an appointment with the minister in charge of commerce because the minister has the authority to determine the foreign companies that can get licenses and she as well pays the minister the amount of $200 to approve their license.
Therefore based on the scenario we can vividly say that the payment made by Cordelia but not the payment made by Rupert violated the Foreign Corrupt Practices Act.
b. the account has enough money to cover the withdrawal.
c. the ATM is located in an airport.
d. the account holder has never had a returned check.
What is the purpose of the Federal Deposit Insurance Corporation?
a. to keep banks on the gold standard
b. to protect depositors from loss
c. to charter state banks
d. to end banking regulation