A Firm Sells Two Goods X and Y)that Are Related

question 52

Multiple Choice

A firm sells two goods X and Y) that are related in consumption.The estimated inverse demand and cost functions are:

What are the profit-maximizing prices for the two goods?

• A) = $40, = $32.50
• B) = $53.50, = $61
• C) = $80, = $55
• D) = $112.50, = $87.75
• E)none of the above

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Definitions:

Kingdom of Ends

A philosophical concept from Immanuel Kant suggesting a society where individuals treat each other as ends in themselves, not means to an end, emphasizing mutual respect and dignity.

Categorical Imperative

The categorical imperative is a foundational concept in Kantian ethics implying an absolute, unconditional requirement that must be obeyed in all circumstances and is justified as an end in itself.

Religious Conviction

A firm belief in a religious doctrine or faith.

Action Guide

A resource or tool that provides advice and strategies to accomplish specific goals or tasks.