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Question - Suppose the demand curve representing phone calls placed by Michconsin Electronics (ME) remains unchanged over time and is linear. ME currently uses MCI for phone calls and places 100 calls per month at a price of $0.80 per phone call. ME used to subscribe to AT&T and placed 90 calls per month at a price of $.90 per phone call, but switched to MCI to take advantage of the lower price. To lure customers like ME, AT&T recently modified its pricing structure to the following: $1.00 per call for the first 60 calls, $.80 per call for the next 40 calls, and $.50 per call for all remaining calls. Calculate the change in consumer surplus for ME if ME switches back to AT&T.
Wildcat Oil has recently discovered a new 500 million barrel crude oil reservoir in Kasakstan. Reservoir engineers predict recovery of about 300 million barrels with current technology. The firm needs a preliminary cost estimate for a feasibility stu..
Presume there are two consumers, A and B. The utility functions of each consumer are given by: UA(X,Y) = X*Y UB(X,Y) = 2X + Y The initial endowments are: A: X = 4; Y = 2 B: X = 6; Y = 8. Is the initial allocation Pareto Efficient? What is the margina..
how many units of each product should she buy in order to maximize her utility. Show this utility maximiz- ing combination combination of Pepsi and Coke on the graph. how would her consumption and utility maximizing bundle of Coke and Pepsi change..
Unfortunately banks are reluctant to make loans to people who currently have low incomes, even if there is a good chance their incomes will be higher in the future. If people could always borrow as much as they want to, would you expect consumpti..
1. Depreciation on a company automobile for the year amounted to $7,000. This amount is not included in the expenses above.2. On January 1, 2013, paid for a two-year insurance policy on the automobile amounting to $1,600. This amount is included ..
how would you characterize the level of competition? bull in other words does this company or industry have a lot of
Discuss and indicate the importance of the major components of population growth from 1800 to the present. Give socio-economic explanations for the major changes in each component.
If lorazepam interferes with the storage of material in memory, then recall only of the second list should be affected. If lorazepam interferes with retrieval rather than storage, then recall of both lists should be disrupted. What statistical tes..
Write describing the importance of cost and pricing analysis to your selected restaurant. The paper should explain the following topics and how they will be applied in your restaurant:
Describe how the circular flow diagram illustrates the interaction of households, governments, and business and Describe the relationship between market and aggregate supply and demand?
you have 10000 and your goal is to save as much money in five years in order to make a downpayment for a house. create
In the market in which David and Ellen have rent-controlled apartments, Ellen gets an apartment and Charlie does not. In the market with no price controls, the situation is reversed. Charlie gets an apartment and Ellen does not.
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