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Suppose you have the following hypothetical demand or sales function. Qx= -4Px+2Py+0.20I+0.04A. Find the marginal revenue function. What output level maximizes total revenue.
using the free wifi for 100 minutes on average with a standard deviation of 30 minutes. Estimate a 95% confidence interval for the population mean.
Describe the source of tension between cooperation and self-interest in a market characterized by oligopoly. Use an example of an actual cartel arrangement.
Explain how each change mentioned in the article impacts upon the aggregate expenditure model and then explain how such changes result in a new equilibrium in that model.
Explain using AD-AS framework how an economy regains the long-run equilibrium from a recession when no policy actions are taken, and the economy adjusts naturally.
Consider the market for cider. Assume that the only two consumers are Wayne and Julia and each has the demand curve given by the following: More information is required to answer this question
Specify a suitable multiple regression equation to estimate with the data. Which, if any, of the independent variables is statistically significant? Test using a significance level of 0.05.
Give the state some money on a per-transaction basis" [Friess,2009]. Discuss the likely incidence of such a tax. Use an appropriate diagram as the basis for your discussion.
What happens to the equilibrium interest rate if the taxes increase to 600? Illustrate the impact of such policy on IS, LM, and AD curves?
Derive the equation for the IS curve. Compute the equilibrium interest rate and the real output. Compute the new equilibrium interest rate and the real output.
If the Fed took no action, what would happen to interest rates? If the Fed wants to keep the interest rate stable, explain and show graphically how the Fed can ensure that this.
Use (P-MC)/P = 1/ l e l to calculate MC and then use the same equation to find out the new price. l e l is the absolute value of demand elasticity.
Calculate the cross -price elastcity of demand Given the elasticity you calculated, did it make sense for supermarket to raise it's price?
Total soft drink demand increased, and Pepsi took a larger share of the demand. Why is the equilibrium of this game different from that of a prisoners' dilemma?
What performance percentage would you use to trigger executive bonuses for that year? Why? What issues would arise with hiring and retaining the best managers?
Explain the impact of this additional patient on the SAVC and SATC. Where are economies of scale demonstrated along the curve? Show.
Suppose a third project will cost $20,000 today and yield a return of $2,500 a year indefinitely. What is the present value of the project? What is the present value if the interest rate increases
At what level of output will the average variable cost be at a minimum> What is the minimum average variable cost?
How much does it cost to produce 100 litres of juice? Does the complete process exhibit constant, increasing or decreasing returns to scale? Hint: If you double all inputs (S, L and H) what happens
What are its short run and long run average cost functions (average cost as a function of output)? Explain the general nature of the relationship between short run and longrun average cost curves.
What are the average fixed (AFC) and average variable cost functions (AVC) and average cost(AC) functions? Write down their algebraic form and graph them.
Write the cost of production, C, as a function of A for each of the two locations. In which city should you locate the plant to minimize your cost per unit of output?
In 2009 Circuit City closed its stores. If we assume this was a short run decision, then the most likely explanation for it is that the price of a typical product sold at Circuit City stores was?
labor force: 154,287,000; employment: 145,362,000; working-age population: 233,788,000. calculate the unemployment rate.