Managerial Economics Homework III ***You must show work to get credit. Your score is also based on your explanation. You are the production manager…

memory                                     memory  Qs             1,000  25P        N

where N is the number of memory module producers in the market.

The CEO requests a report containing  the possible market price for memory modules and the number of units to manufacture in the upcoming year. As the production manager, you will have to prepare the report to the CEO so that orders of production inputs can be placed this year.

a.  Predict the possible market price for memory products in the next year based on the information given to you. How many units should be manufactured?

b.  How would your report change if the price of desktops were $1,080? What does this  indicate  about  the  relationship  between  memory modules  and  desktop systems?

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