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the industry demand function for bulk plastics is represented by the following equation p = 800 - 20Q where Q represents millions in pounds of plastic the total cost function for the industry, exclusive of a required return on invested capital is tc= 300+500Q+10Q2. A- if the industry acts like a monopolist in the dtermination of price and output, compute the profit maximization level of price and output. B. assume that this industry is composed of many (500) small firms, such that the demand function facing any individual firm is p=$620 compute the profit maximization level of price and output under these conditions (the industry's total cost function remains unchanged).
A corporation has 15,000 employees. Sixty-two percent of the employees are male. Twenty-three percent of the employees earn more than $30,000 a year. Eighteen percent of the employees are male and earn more than $30,000 a year.
what are the highest and lowest payments from the writer that the beekeeper- farmer team will accept for the sixth day. Assuming that the farmer can dispose of $7 from the writer as she wishes, what range of payments will the beekeeper accept.
Consider the "Odd Couple" game. Felix and Oscar share an apartment, the state of cleanliness of which is a public good. It takes 12 hours of work per week to make the apartment spotlessly clean, 9 hours to be livable, and anything less leaves the ..
How do you calculate price elasticity of demand If 50 Units of a good are demanded at a price of $1 per unit. A reduction in price to $0.20 results in an increase in quantity demand to 70 Units. Show that these data yield a price elastity of $0.2..
Vipsana's Gyro House sells gyros. The cost of ingredients (pita, meat, spices, etc.) to make a gyro is $2.00. Vipsana pays her employees $60 per day. She also incurs a rent of $20 per day. Answer questions 17-10 accordingly.
Say that investment increases by 100 for each interest rate drop of 1 percent. Say also that the expenditures multiplier is 3. If the money multiplier is 5, and each 5-unit change in the money supply changes the interest rate by 1 percent, what op..
Max Whitley, manager of Whitley Construction, builds new homes in a booming community in the Midwest. Although the sales have slowed down because of a national recession, it now looks as if the recession is about to end. Max wants to be ready with..
Now calculate the GDP deflator for 2011 and 2012 (assuming that 2011 is the base year). d) What is the rate of economic growth between the two years as defined byt he percent change real GDP. e) What is the rate of inflation between the two years?
Plant B was constructed 2 months ago; it has a pollution abatement cost of 10c2. Assume that neither plant is initially engaging in pollution abatement. The per unit benefit to a unit of pollution abatement is constant at $1500. Unless told otherw..
Suppose that two firms compete in quantities (Cournot) in a market in which demand is described by P = 260 - 2Q. Each firm incurs no fixed costs but has a constant marginal cost of 20. Suppose that after the cartel is established.
If the price of blue toy cars is $5 and the price of pink toy cars is $2, then which of the following consumers will make the same choices if their income is the same (assuming maximization of income) Gloria, utility is U(b,p) = b^2 * p
"DRUGS R US" is a large manufacturer of various kinds of liquid vitamins. The quality control department has noted that the bottles of vitamins marked 6 ounces vary in content with a standard deviation of 0.3 ounces. Assume the contents of the bot..
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