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All cheese manufacturers have the cost function C=Q^2+9, while demand for cheese is given by Qd=120-P. The long run equilibrium number of firms is
Given the table below, graph the demand and supply curves for flashlights. Make certain to label the equilibrium price and equilibrium quantity. What is the equilibrium price and the equilibrium qua
Consider a bank that has assets of 100, capital of 20, and short-term credit of 80. Among the bank's assets are securitized assets whose value depends on the price of houses. These assets have a val
The costs of providing this consumer with insurance are CI(θ)= α + 2βθ where -0.5 < β < 0.5 and -β < α < 1-2β . The utility and costs of remai
Assume there is one insurance plan. Consumers decide whether to enroll in this insurance plan or remain uninsured. Consumers are heterogeneous in how much they value insurance and how costly they ar
The demand for money in a country is given by Md= 10,000-10,000r +Y. Where Md is money demand in dollars,r is the interest rate (a 10 percent interest rate means r=0.1), and Y is natinal income. Ass
Assume that 60 students take a triangle test with Coke and Pepsi. Each student taste three glasses where two drinks are identical. The students have to find out which of the three glasses contains t
Consider the following information. For Group A the cost of attaining an educational level is CA(y)=$6,000y and for Group B this is CB(y)=$10,000y. Employees will be offered $50,000 if they have y&l
A firm in a purely competitive industry is currently producing 1000 units per day at a total cost of $450. If the firm produced 800 units per day; its total cost would be $300, and if it produced 50
(b) At what output and price will the firm maximize total profit (c) Compare the maximum profit obtainable with the profit that the firm would have if it chose a revenue-maximizing strategy.
Two firms, Alpha and Beta, are competing in a market in which consumer preferences are identical. Alpha offers a product whose benefit B is equal to $100 per unit. Beta offers a product whose benefi
Explain what would happen to the firm's initial cost curves if the plan instead requires this firm to provide a $100,000 group program that covers all of its employees, regardless of the number of e
A grocery store carries a particular brand of tea tha has the following characteristics: Sales= 8 cases per week Ordering Cost=$10 per order Carrying Charges= 20% per year Item Cost= $80 per case What
as this market makes the transition to its long-run equilibrium, will the price rise or fall? will the quantity demanded rise or fall? will the quantity supplied by each firm rise or fall
A realtor is interested in comparing the asking prices of homes in Philadelphia and Baltimore. A random sample of 21 listings in Philadelphia resulted in a sample mean price of $185,900 with a sampl
During the current fiscal year, Jeremiah Corp. signed a long-term noncancellable purchase commitment with its primary supplier. Jeremiah agreed to purchase $2.5 million of raw materials during the n
Dr. Leona Williams, a well-known plastic surgeon, has a reputation for being one of the best surgeons for reconstructive nose surgery. Dr. Williams enjoys a rather substantial degree of market power
There are 300 purely competetive farms in the local dairy market. Of the 300 dairy farms, 298 have a cost structure that generates profits of $24 for every $300 invested. What is their percentage ra
A firm is considering the purchase of circuit board stuffing machine that costs $100,000, has a 4-year life and zero salvage value. It will be used to produce $30,000 circuit boards per year. The MARR
A firm wants to raise $100,000,000 through a new issue of common stock at a market price of $50 per share. The flotation costs are 5.8%. How many shares of stock must the firm issue and what is the
a. Determine the profit maximizing level of output. b. Compute the profit maximizing price. c. Calculate the upper and lower limits within which marginal cost may vary without affecting the profit max
A. Find the price and quantity that maximizes the company's profit B. Find the price and quantity that would maximize social welfare C. Find out Dead weight loss
There are 300 purely competetive farms in the local dairy market. Of the 300 dairy farms, 298 have a cost structure that generates profits of $24 for every $300 invested.
An investment of $10,000 in 1993 earned a market interest rate of 6% for 10 years. The average inflation rate during that time was 3%. What was the value of that investment at the end of the 10 year
Suppose that worker skills can be measured in efficiency units, and that efficiency units are distributed in the population such that worker 1 has 1 efficiency unit, worker 2 has 2 efficiency units,