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1. The Paradise Shoes Company has estimated its weekly TVC function from data collected over the past several months, as TVC = 3450 + 20Q + 0.008Q2 where TVC represents the total variable cost and Q represents pairs of shoes produced per week. And its demand equation is Q = 4100 - 25P. The company is currently producing 1,000 pairs of shoes weekly and is considering expanding its output to 1,200 pairs of shoes weekly. To do this, it will have to lease another shoe-making machine ($2,000 per week fixed payment until the lease period ends).
2. What are the profit-maximizing price and output levels for Paradise Shoes? Describe and calculate the profit-maximizing price and output.
Real GDP was $4,179 billion in year 1 and $4,848 billion in year 2. IN contrast, real GDP per capita in Year 1 was $19,261, but in year two it was only $19,162. Why did one measure increase while the other measure decreased
Why is self-regulation by the audit profession in the US no longer in place?
Suppose that, on and near the U.C. Sunnydale campus, the weekly supply curve for lattes is given by the equation Q = max(1000 P - 2000, 0) : nobody makes any lattes unless the price is above $2/latte, and for each $1 the price is above $2 an extra..
a. If the theater uses third degree price discrimination, what price will it charge for daytime tickets How many will be sold b. If the theater uses third degree price discrimination, what price will it charge for nighttime ticket How many will be ..
Suppose that John's preferences for wages and risk (a bad) are given by the utility function: U = W x e-Rwhere e represents the exponential function, W is the weekly wage, and R represents the type of job.
To what extent do these models complement or contradict each other? Discuss.
What would be the value of the multiplier derived from a naïve regression of consumption on income, and what would be the true value?
Suppose that David has $1000. In the beginning of a year he decided to put his money in a saving account with 5% interest rate per year. The CPI was 150 in the beginning of that year. He expected that the CPI would be 153 in the beginning of the n..
What incentive conflict was being controlled by these loyalty payments? What advice did Intel ignore when they adopted this practice?
Evren wants to go into the donut business. For $500 per month he can rent a bakery complete with all the equipment he needs to make a dozen different kinds of donuts (K = 1; r = 500). He must pay unionized donut bakers a monthly salary of $400 eac..
for the consumer price index cpi values shown calculate the rate of inflation in each year from 1930 to 1933.year 1929
A perfectly competeitive, constant-cost industry has a markey demand curve P=100-(1/5)Y where Y is the aggregate output in the market. Each firm has a U-shaped long-run average cost function with a minimum of $10. The efficient scale of production..
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