a.) Create a graph showing the price (labeled as P1) that Levi’s changes. Also, identify the markup. b.) How does Levi’s advertising affect their profits? c.) Do Levi’s or the generic producers have a stronger incentive to maintain quality control? Why?

ECON 213 Problem Set 4 Name: ______________________________________________ Problem Set 4 is due by 11:59 p.m. (ET) on Friday of Module/Week 8. 1. Monopolies can sometimes find themselves in difficult financial situations that lead to losses. Suppose Mr. Burns’ power company has a monopoly for providing electricity in Springfield. His costs of upkeep are so high that he […]