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Apple recently launched the iPod nano under 2-different versions:2GB and 4GB. There are two types of customers of the iPod nano.Type 1 has relatively narrow musical tastes and can easily do with less than 500 songs.These consumers are willing to pay $200 for a 2GB or a 4GB.Type 2 consumers like to listen to many different songs.These consumers are willing to pay $220 for a 2GBnano and $270 for a 4GB nano.Apple estimates that there are 20 million type 1 customers and 15 million type 2 customers.Ass me that it costs $50 to produce an iPod nano regardless of its capacity (2GB or 4GB).
(a) Assume first that Apple were to sell only 4GB iPods (after all,they cost the same and some customers prefer more than less). What is the optimal price for a 4GB iPod?What is the profit?
(b) Assume now that both models are introduced on the market.What are the optimal prices for the two models (make sure to explain your reasoning very carefully). What is the profit? How is this pricing scheme called?Briefly discuss what is its purpose and why it could be useful.
Graph the demand and supply curves. What is the equilibrium price and quantity in this market and if the actual price in this market were above the equilibrium price, what would drive market toward the equilibrium?
Am I right in saying an isoquant for an output produced using 2 inputs that can be perfectly substituted for each other can be represented by a straight line
The perfectly competitive company takes the equilibrium value set through the market and maximizes profit through manufacturing where price, which also equals marginal revenue, is equal to marginal cost.
Suppose an economy of two firms and two consumers. The two firms pollute. Firm 1 has a marginal savings function of MS1(e) = 5-e where e is the quantity of emissions from the firm.
The demand for energy in the United States is often stated as persistently non-cyclical and not sensitive to both prices effects. Given such characteristics, explain the effect of each of the following on the demand or supply for gasoline.
Your manager comes in with three sets of proposals for a new production process. Each process employs three inputs: land, labor, and capital.
Explain how this tax or subsidy would achieve the socially efficient level of output. Among the various interested parties - the monopoly firm, the monopoly's consumers, and other taxpayers - who would support the policy and who would oppose it?
What is the consumer surplus [loss] associated with the merger and what was the profit before the merger? after? increase? How does the consumer loss compare to the increase in profit?
There're 10 auto firms in this problem each showing their market share percentage (US auto industry). The proposed merger involves Ford 22% and BMW 1%.
We make choices as consumers every day. Opportunity cost is defined as a person's "next best alternative" or "the cost of what you give up when you make a choice."
Econ 301 Assignment, Find at least three other variables that may affect the return of equity of your choice
Yearly demand and supply for the Entronics corporation is given by: Qd= 5,000 +0.5I+0.2A-100P and Qs=-5000=100P where Q is the quantity per year,
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