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A private-garage owner has identified two distinct market segments: short-term parkers and all-day parkers with respective demand curves of Ps=3-(Qs/200) and Pc=2-(Qc/200). Here P is the average hourly rate and Q is the number of cars parked at this price. The garage owner is considering charging different prices (on a per-hour basis) for short-term parking and all-day parking. The capacity of the garage is 600 cars, and the cost associated with adding extra cars in the garage (up to this limit) is negligible. a.) Given these facts, what is the owner's appropriate objective? How can he ensure that members of each market segment effectively pay a different hourly price? b.) What price should he charge for each type of parker? How many of each type of parker will use the garage at these prices? Will the garage be full? c.) Answer the questions in part b.) assuming the garage capacity is 400 cars.
Over a period of years, a toothpaste has received a mean rating of 5.9, on a 7-point scale, for overall customer satisfaction with the product. Because of a minor unadvertised change in the product
Assume that product A requireds .5 hour per unit and B requires .25 hour per unit. If both products must go through the same manufacturing machine and there are only 30000 machine hours available per period, which product should be pushed
American Pulp Corp (APC) has entered into a contract to harvest timber for $450,000. The total estimated available harvest is 150 million board-feet. What is the depletion allowance for years 1 to 3, if 42,45.
The demand schedule in the first market is Q1=100-0.5P1, where P1 is the price of the product and Q1 is the amount sold in the market. In the seconds market, the demand is Q2=140-P2, where P2 is the price of the product and Q2 is the amount sold i..
The Coma Chemical Company needs a large insulated stainless steel tank for the expansion of its plant.coma has located one at a Brewery that has just been closed.The brewery offers to sell the tank for $15000 including delivery. the Price is so lo..
If the CPI was 110 last year and is 121 this year, what is this year's rate of inflation? What is the "rule of 70" How long would it take for the price level to double if inflation persisted at (a) 2, (b) 5, and (c) 10 percent per year
Consider the following sequence of year-end cash flows: EOY cash flow 1 2 3 4 5 (1)=$8000 (2)=$15,000 (3)=$22,000 (4)=$29,000 (5)=$36,000 What is the uniform annual equivalent if the interest rate is 12% per year
In the fall of 2003, many analysts predicted that the dollar would fall in value relative to other currencies because the trade deficit in the United States had become too large. What effect would a fall in the dollar have on growth in the rest of..
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
Suppose that two firms compete in quantities (Cournot) in a market in which demand is described by P = 260 - 2Q. Each firm incurs no fixed costs but has a constant marginal cost of 20. Suppose that after the cartel is established, one firm decides ..
Use the midpoint method to calculate your price elasticity ofdemand as the price of compact discs increases from $8 to $10 if(i) your income is $10,000 and (ii) your income is $12,000. And calculate your income elasticity of demand
What is the sample standard deviation of weights and calculate the change in weight
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