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profit maximization problemP=MR=1500$TC= 41,000,000+0.005Q 2MC= TC/ Q =$500 +0.01Qcalculate profit maximizing activity level and optimal profit, and optimal profit as percentage of sales revenue.
Show how the payoff matrix in the table for Problem 10 might change if firm A were to make a credible threat to lower the price by building excess capacity to deter frim B from entering the market. (a) indicate the best strategy for each firm.
David Ding advertises on a local radio station. For the past six week, the manager has kept records of the humber of minutes of advertising that were purchased, and the sales for that week. Week 1, 2 minutes of advertising with $1,400 in sales.
Given the information below what are the optimal markups for widgets and gadgets Marginal revenue = Price(1 + 1/Price elasticity) since price is positive (always) so we can ignore that part when determining the sign of MR MR is negative if 1+1/elasti..
The robotics corporation produces cuddly toys using only computer driven robots. The quantity of toys (t) produced per year is given by T = 10r where r is the number of robots used during each year of production If the market price of robotics 200..
Abby consumes only apples. In year 1, red apples cost $1 each, green apples cost $2 each, and Abby buys 10 red apples. In year 2, red apples cost $2, green apples cost $1, and Abby buys 10 green apples a. Compute a consumer price index for apples ..
A math test of 100 questions was given to a random sample of 20 freshman. Suppose that for the population of freshman the distribution of number of correct answers would be normal with a variance of 250. a) what is the probability that the sample v..
Kenton Limited began retail operations on January 1, 2008. On that date it issued 10,000 shares of common stock for £50,000. On January 31, Kenton used £48,000 of the proceeds to rent a store, paying in advance for the next two years.
Suppose that the current market price of VCRs is $300, that average consumer disposable income is $30,000, and that the price of DVD players (a substitute for VCRs) is $500. Under these conditions annual U.S. demand for VCRs is 5 million per year.
Suppose that a tax of T is placed on buyers, so the new demand equation is QD = 300 - (P + T). Solve for the new equilibrium. What happens to the price received by sellers, the price paid by buyers, and the quantity sold
The table below shows the total production of a firm as the quantity of labor employed increases. The quantities of all other resources employed are constant. Compute the marginal and average products and enter them in the table.
What is the optimal level of pollution P = 2P + P^2 => MC = 2 + 2P CC = 5 - 3P => MC = -3 to find the optimal level of pollution as recommended, we need to set total marginal cost = 0, then I have 2 + 2P -3 = 0 => 2P -1 = 0 => P = 0.5 You have alread..
An individual has to choose between investment A and investment B. The individual estimates that the income an dprobability of the income from each investment are as given in the following table. Using Excel statistical tools, calculate the standar..
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