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Ebo is the owner of medium-sized company that assembles personal computers in Ghana. He purchase most of the components for the company such as random access memory (RAM) on a competitive market. In order to maximise profit in the short run, he employed an economist to estimate the demand curve for his product as: 3Q = 20 - 0.4P. Suppose the firm has a fixed cost of 100 and variable cost per unit function as 1.50 - 31 + 130 , Where Q is number of laptops produced and P is the price per computer:
i. Determine the number of laptops that maximizes the company's profit.
ii. How much should the firm charge for one computer?
iii. Find the total profit at the profit maximizing level of output
iv. Should the firm shut down or continue to produce?
Suppose the government reduces the current tax burden of households today by sending a tax rebate by mail. Assume that the government pays for this tax rebate by borrowing today but will have to increase taxes in the future. What happens to desired p..
Why might a multinational corporation with identical plants in different countries pay different wage rates to workers in the two different countries even though their skill levels are the same? Does this strike you as unjust? Why might the higher-pa..
Give 1 product (found in household) example of the following Natural monopoly, Legal Monopoly, Coercive Monopoly.
You own a franchise of rental car agencies in Florida. You recently read a report indicating that about 80 percent of all tourists visit Florida during the winter months in any given year, and that 60 percent of all tourists traveling to Florida by a..
The behavior of almost everyone indicates that people believe they will be better off if they earn a larger income, because a larger income means the ability to
Two firms constitute the entire doghouse industry. One has the long-run cost function c1(y) = 3 + 4y 2/3 for y > 0 and c1(0) = 0, and the other has the long-run cost function c2(y) = 10 + y 2/10 for y > 0 and c2(0) = 0. If no new firms can enter the ..
Consider an inflation shock example where the o ¯ term jumps (positively). Given parameter values o ¯ = 9% (the exogenous price shock), a ¯ = 0, b = .6, m ¯ = 1, v ¯ = .4, and π ¯ = 3%, solve for the value of short-run output and the inflation rate f..
A firm charges its credit customers 13/4% interest per month. What is the effective interest rate?
principles of strategic management to a case study.
how this arrangement with Delta and United could have caused the value of SkyWest to increase so dramatically even though it limited the amount of profit the company could earn.
Elucidate using a graph why the change in real GDP is likely to be smaller than the shift in the aggregate demand curve.
Differentiate the system and express dY,dC and dI in terms of dT, dG and dr.
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