Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
The short-run marginal cost of the Ohio Bag Company is 2Q. Price is $100. The company operates in competitive industry. Currently, the company is producing 40 units per period.
A monopolist produces a single homogeneous good, which she sells in two distinct markets between which price discrimination is possible. Her total cost function is:
Identify Consolidated's total profit function. Supposing that Consolidated is effectively capable to charge different prices in the two markets, what are the profit-maximizing price and output
A monopolist produces a single homogeneous good, which he sells in two markets between which discrimination is possible. His total cost function is:
Determine the output level where marginal cost is at minimum? Determine output level where average variable cost is a minimum?
Firm is practicing first degree price-discriminaiton. The demand for the firm's product is defined as QD = 20-2P.
Which of the following is example of prisoners' dilemma? Firms in an industry increase their advertising expenditures, causing profits to rise.
A firm has a demand function and a total cost function as follows: P=$5,000-$3QCompute the optimal output and price. Assuming:
Indicate whether each of following statements is true or false and provide the reason. (a) A firm should stop expanding output after reaching diminishing returns
Evaluate the firm's annual net cash flows (NCF) for capital budgeting purposes for next 10 years, supposing that the new processing unit is purchased.
Illustrate out the law of diminishing marginal productivity? Give an example from your workplace/household of the law of diminishing marginal productivity?
Calculate the profit-maximizing level of output and price if the company sells all of its tickets at one price. Calculate the profit-maximizing level of output and price if it charges different prices
Assume the market price of sugar is 22 cents per pound. If sugar farmer produces 100,000 pounds, the marginal cost of sugar is 30 cents per pound.
Why is advertising prevalent in many oligopolies, especially when industry demand is inelastic? Describe your answer by supposing that with advertising, a firm's demand curve has price elasticity
Critically discuss two factors that would increase demand for labor. (Hint: Recall that the demand for factors of production or resources is called a derived demand)
Due to the housing bubble, many houses are now selling for much less than their selling price just two or three years ago. There is evidence that homeowners with virtually identical houses tend to a
Critically illustrate outthe difference between the effect of short- and long-run price elasticity of demand to consumer's purchasing decision?
Assume the short-run total product curve (TPL) is the linear function of variable input over some range of values. Find out the shape of the corresponding marginal product (MPL) and average pr
Illustrate out the term economic characteristics of the many different Market Structures in existence? (i.e. Oligopoly, Monopolistic, Perfectly Competitive, etc...)
Describe in detail what are the differences between short and long run costs? For the short run, describe what the relationship is between Cost Theory and Production Theory and the Concept of Diminis
Assume that Panasonic Electronics (maker of phones) and MCI (long distance telephone services) decide to merge. What argument would tell the United States Justice Department that it might be sociall
Suppose a firm employs 10 workers and pays each $15 per hour. Further suppose that the MP of the 10th worker is 5 unit of output and that the price of the output is $4. In the short run should the f
A case study states that the concession stand accounts for well over half profits at most theaters. Given this, what are the benefits of staggered movie times allowed by multiple screens?
Determine the total profit/loss this firm would make and assume in the long-run, the demand shifted to: Q = 100 - 5P, What should the firm do? Explain
Both traditional and new Keynesian theory indicate that the short run aggregate supply is horizontal.