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Problem 1: What price-cost markup is implied by a firm' elasticity of demand equal to -3.0?
In the Woody Allen film Radio Days, a character who has never been successful in business decides to start a career engraving gold jewelry.
Problem: Marginal revenue (MR) is ____________ when total revenue is maximized.
The constant or intercept term in a statistical demand study represents the quantity demanded when all independent variables are equal to:
(1) Derive the total-revenue, average-revenue, and marginal-revenue schedules from Q = 0 to Q = 6 by 1s (2) On the same set of axes, plot the total-revenue, the average-revenue, and the marginal-reven
Suppose that you had an idea to save your company money by changing the methods of work. Prepare a list of detailed steps you would take to get the change authorized.
What would be gain in social welfare if company was forced to act like a perfect competitor instead of an unregulated monopoly
1. Under the pricing per issue approach, at what price per issue would Canada times mag maintain its profit and what is the profit?
Using the economic theory of Human Capital, describe and explain the theoretical basis for income changes over the life cycle.
Q1. If the government imposes a $1 per-unit tax, how do the marginal, average total, and average variable costs change? What if instead the government imposes a $100 per-firm tax? (ASSUME NO CHANGE
A firm in a competitive market model tends to make zero economic profits when charging a profit maximizing price and a monopolist has no limit to the amount of profits that can be earned when they c
Q1. What is the optimal price of a concert ticket? How many tickets are sold at the optimal price? Q2. What is the optimal price of a CD? How many CDs are sold at the optimal price?
A. What problems might you encounter as the admission's director? REMEMBER this is not a law course - so avoid discussing those issues. B. How might you handle them? GIVE EXAMPLES.
Determine the expected monetary value of leasing versus drilling. Show your calculations clearly.
Q1. How would the airline maximize the total revenue it obtains from the two flights. Q2. What fares should the airline charge and how many passengers will buy tickets of each type? Keeping in mind
Question 1: How do the payroll taxes levied on the earnings of workers affect their decisions about how much leisure they consume?
1) Over the next 10 years per capita, disposable income is expected to rise by $5,000. What effect will this have on the firm's sales? 2) How much should it raise prices to offset the effect of the i
Problem: Which of the given is the best example of the "command" process? a. MCI-Worldcom buys Sprint. b. Striking auto workers force General Motors to shut down its factories.
Problem: Which of the following is not true about the law of diminishing returns? a. It is a short run phenomenon. b. It refers to diminishing marginal product. c. It will have an impact on the firm's
Problem: Mutual interdependence means that a. All firms are price takers. b. Each firm sets its own price based on its anticipated reaction by its competitors. c. All firms collaborate to establish on
Q1. If the price of a serving of pasta is $4, how many servings will Ari buy? How much consumer surplus does he receive?
1. Suppose the market price is $29. What is the total consumer surplus? 2. Now the market price decreases to $19. What is the total consumer surplus now?
Problem: A proposed project should be accepted if the net present value is a. positive. b. negative. c. larger than the internal rate of return. d. smaller than the internal rate of return.
Problem: Discuss how NPV is calculated and state the decision rule.
Discuss your results in terms of decreasing, constant and increasing marginal cost. Does Grand cost function illustrate all theses.