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Assume that spending $80 on advertising will attract 100 more type B customers. Should the monopolist advertise? If so, what will happen to price?
Suppose ABC Inc. a U.S. auto manufacturer, obtains all of its auto components in the United States and that its cost are denominated in dollars. Assume the dollar's exchange value appreciates by 50%
Notre Dame's pre-federal-gift budget constraint and best attainable indifference curve over secular and nonsecular expenditures. How would the university's welfare differ if the gift came with-out t
Even though it is seen as such by most economists and ALL colleges of business today, and was first proposed as a factor of production by a classical economist less than 40 years after Adam Smith?
Do you agree? Or disagree? Explain your reasoning. "There need be no trade-off between equality and efficiency. An ‘efficient' economy that yields an income distribution.
However, Sonic Boom is now selling only 200 drum sets per month at the new price. What is the Arc Price Elasticity for this product?
The demand curve for product X is given by Q(Quantity) d(demand) of x = 460 - 4P(Price) of x. Find the inverse demand curve. How much consumer surplus do consumers receive when P(PRice) of x = $35?
Kevin is an avid home brewer. He is interested in obtaining one or more 30-gallon, professional-quality aluminum pots for his beer-brewing process. How much is Kevin willing to pay for a third pot?"
If sales fall by 20% from 1 million papers per month to 800,000 papers per month, what happens to the AFC per paper, the MC per paper, and the minimum amount that you must charge to break even on th
Identify an industry where there has been a pattern of change in a particular market model (monopoly, oligopoly, etc.)and describe the industry and explain the general pattern of change of the part
Draw and find the equation of an assumed linear demand curve for theater tickets, when persons purchase 1,000 at £5.00 per ticket and 200 at £15.00 per ticket.
compute the amount of autonomous planned spending, Ap, given interest rate =3. compute the equilibrium level of income, given that the interest rate =3
Your financial analysis department estimates that the price of a pottery machine is $2,000 per day. Can you reduce the cost of producing 1,800 pots per day by adding a pottery machine to your produc
You are a hospital administrator trying to raise capital to refurbish the hospital. Your local bank is reluctant to lend you because you already have a large mortgage on the property on which the ho
Microsoft Monopoly--Why was Microsoft investigated for antitrust behavior? Do you agree or disagree that Microsoft was trying to gain monopoly power in the computer software industry?
Assume that each of them has only two $1 bills on hand, leaving three possible bids: $0, $1, or $2. Write out the payoff matrix for this game, and then find its Nash equilibrium.
For each of the following, draw supply and demand graph that presents market for eggs in initial equilibrium, then illustrate the likely effects on the market for eggs (supply or demand) each of the
Suppose your parents decide to stop paying for your textbooks. What is the expected effect on your food consumption as a whole? Is this an example of the income effect, the substitution effect, or
Use the following data to calculate (a) the size of the labor force and (b) the official unemployment rate: total population, 1000; population under 16 years of age or institutionalized, 130; not in
what are some criteria that Rollerblade should use to select countries to enter, and (b) what three or four countries meet these criteria best and are the most likely candidates?
How does this export subsidy affect the domestic price of steel, the quantity of steel produced, the quantity of steel consumed, and the quantity of steel exported? How does it affect consumer surpl
Suppose the budgetary federal spending and revenue are $1700 billion and $1825 billion respectively. What is the federal government's "on-budget" balance?
The demand function for merino ewes is D(p)=100/p and supply function is S(p)=p. What is the equilibrium price? What is the equilibrium quantity?
Suppose the government wants to discourage the consumption of caviar and so imposes an excise tax of $20 per can of caviar on the buyer. what is the price paid by consumers.
Find data on GDP and its components, and compute the percentage of GDP for the follow-ing components for 1950, 1980, and the most recent year available.