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The manufacturer of high quality flatbed scanners is trying to decide what price to set for its product. The cost of production and the demand for the product are assumed to be as follows:
TC = 10,000 + 100Q + 0.02Q^2
Qd =20,000 - 100 P
a) Algebraically calculate the short-run profit maximizing price and quantity.
b) algebraically calculate the maximum profit accruable to the firm.
c) Estimate algebraically the maximum revenue accruable to the firm
At several universities and colleges, business professors receive higher salaries than professors in others fields. Why might this be the case?
Does the marginal product of labor measure how output changes as wage price changes, or is it the average product of labor divided through the quantity of capital stock and can it be negative or is it any two of the above?
Determine what is Risky Behavior Amoung Youths in Behavioral Economics and explain how does it affect the economy?
Two months before, the landlord of a car dealership significantly changed his sales manager's compensation plan. Under the old plan, the manager was paid a salary of $6000 every month
An economist had estimated sales trend line for the Sun Belt Toy Corporation as follows:
How does capital investment affect the marginal physical product of labor and does more college education have the same kind of effect also which is a better investment
Determine what will the sustainability movement look like over next twenty years? What issues do you expect to take center stage? How will business respond?
A company uses two inputs to produce a final good. If the price of one of the inputs raise and price of the other remains the same
Say there is a natural disaster which wipes out all of tomato plantation of one country. so there is a drastic increase in the price say from $6 to $15 a kilo
The total monthly cost for marketing this product is composed of $3000 additional administrative expenses and $50 each unit for production and distribution costs.
Determine what are voluntary export restraint contracts and explain why do some governments force foreign exporters into them instead of just using quotas or tariffs to restrict imports by the same amounts?
In Chicago 120 people are wants to work as cashiers if the wage is $6 a hour. For each $1 that the wage rises above $6 an additional 40 people are wants to work as cashiers.
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