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1. Suppose the demand for burrito in a small isolated town is p = 8 - 2Q. There are only two firms, A and B, and each has a marginal cost of 2. Determine the Cournot equilibrium. (hint: using the rule that Marginal Revenue's slope is always twice as much as the slope of the residual demand curve as long as the residual demand is linear in output)
2.Each consumer has an identical demand curve for golf, q = 200 - 2p, where q is the number of times of golf played per year and p is the price per round. The only golf course in an isolated town incurs a marginal cost of $5 per round of golf. It wishes to charge a membership fee and a fee per round of golf. What price will it set for each fee?
3.. Suppose that market demand can be represented as p = 100 - 3Q. There are 10 identical firms producing an undifferentiated product, each with the marginal cost function MC = 3q. If the firms form a cartel, the marginal revenue for the cartel is MR = 100 - 6Q. Compare the competitive outcome with the cartel outcome. What is the individual firm's incentive to cheat on the cartel? (show the procedure you reach your conclusion)
Identify the major factors influencing Riley's cash flow. Use the cash flow statements together with the ratios and common-size statements. What is the length of Riley's cash conversion cycle? Does it take a long time for Riley to go from spending..
Why is the pricing of a Gillette safety razor a form of two-part tariff Must Gillette be a monopoly producer of its blades as well as its razors Suppose you were advising Gillette on how to determine the two parts of the tariff.
Analyze the issue using the economic concepts and theory learned in class - elasticity on a particular product.
The Federal Government announced a tax rebate of $500 for all individuals filing singly
ASAD Model. Analyze the following events using the ASAD model. What happens to price, output and unemployment in the short-run, transition from the short-run.
Show, using supply and demand analysis, impact on the equilibrium price and quantity of new Hybrid automobiles when following occurs. Using graphs, explain the change in equilibrium price and quantity,
How society manages its scarce resources and benefits from economic interdependence? Why the demand curve slopes downward and the supply curve slopes upward? Where is the point of equilibrium and what does it determine?
Total unemployment is 5%. Frictional unemployment is 2.3% and the economy is at full employment. What is cyclical unemployment? Round to 1 decimal place and no percent sign needed.
Apple's $1.29-for-the-latest-songs model isn't perfect and isn't it too much to pay for music that appeals to just a few people?
the director of marketing at vanguard corporation believes that sales of the companys bright side laundry detergent s
The following table shows the hypothetical monthly demand and supply schedules for cans of macadamia nuts in Hawaii. a. What is the equilibrium price of macadamia nuts in Hawaii?
Consider a two-person pure exchange economy in which the initial endowments are (1,0) and (0,1), and each person has Cobb-Douglas preferences. Find the Walrasian equilibrium for this economy
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