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Based on the best econometric estimates, the market elasticity of demand for your firm's product is -1.5. The marginal cost of producing the product is constant at $250, while average total cost at current production levels is $340.
Determine your optimal per unit price if:
You are a monopolist
You compete against one other firm in a cournot oligopoly
You compete against 19 other firms in a cournot oligopoly
Describe how the economic theories and principles you have studied in this course have deepened your thinking about economic behavior.
Each consumer's demand curve is P = 20 - 4Q. The marginal cost of production is $4. Devise an optimal two-part tariff pricing policy.
What are some examples of ways the United States has continued to push frontiers to the right or increased the possibilities of what we can produce?
Determine equations for P=f(Q), MR=f(Q), ATC=f(Q, Q2), AVC=f(Q, Q2), MC=f(Q, Q2). Recall that your marginal equations should be derivatives of your totals. Determine the profit-maximizing price and quantity.
If unemployment is above the natural rate of unemployment, then potential GDP is:
An Industrial Technology department just purchased new SPSS and Minitab software for $3000 now and annual payments of $500 per year for 6 years starting 3 years from now for annual upgrades. What is the present worth of the payments if the interest r..
Compute the equilibrium price (P) and quantities (Q) in each country without trade. Now assume that free trade occurs. The free-trade price goes to 56.36 Baht. Who exports and imports cameras and in what quantities?
Two of the most important concepts we’ve talked about in class are the technical rate of substitution between two inputs and the ratio of the price of those inputs. Explain, briefly, what each of these concepts represent in terms of tradeoffs, and wh..
Compare and contrast the ethical relativism as it applies in the western (U.S.) and global businesses practices. Velasquez Business Ethics 7th edition.
"Politics is too often the thing that gets in the way of good economic policy being implimented" The economist who said this most likely. The lower the market price of water, the ___________ the ____________ surplus.
Suppose the market demand function (expressed in dollars) for a normal product is P = 480 – 4q and the marginal cost of producing it is MC = 2q, where P is the price of the product and q is the quantity demanded or supplied. How much would be supplie..
Elucidate how many units does each industry produce, elucidate how many industries will exist in this marketplace.
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