- Find all our relevant metrics for a monopolist when:
- demand p=a – bq
- supply cost structure TC = F + cq + ½dq2
That is, find pM, qM, πM, ACM, CSM, PSM, DWLM (did I miss anything? — yes, (p-AC)/p)
Oh, and remember fixed costs when you calculate profits and AC!
- Read the Tremblay and Tremblay article on Sakai that updates the US beer market through (roughly) 2010. Do a one-page set of notes thereon. Have economies of scale changed? other supply-side cost components? Consumer incomes? tastes? relative prices? — What might be driving the changes, or are the changes “newsworthy” but from an economics perspective too small to merit analysis from the perspective of the industry as a whole?