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A monopoly is considering selling several units of a homogeneous product as a single package. Analysts at your firm have determined that a typical consumer's demand for the product is Qd = 110 - 0.25P, and the marginal cost of production is $160.
a. Determine the optimal number of units to put in a package.
b. How much should the firm charge for this package?
Suppose the market demand function is given by: Q=100-2P, where Q: total quantity, P: market price. And in this market there are two firms with MC=AV= $10. Perfect competition price, quantity, and consumer surplus? Monopoly price, quantity, consumer..
Give an economic interpretation of each of these properties of the production function.
In 2013 the south Korea GDP was about 1620 billion. Since we are working in 2013 dollars, this number is both the real and the nominal GDP for 2013. From 2013 to 2014 the real gdp grew 2.9%. The money supply in Korea in 2014 was about 390 billon. The..
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What might account for the fact that estimates of effect time lags for fiscal policy often differ considerably across different types of government expenditures?
Assume there is a labor force of 16 workers at an isolated site. During boom the firm faces a demand curve of P=100-Q. During recession it faces a curve of 80-2Q. Like likelihoods of Boom and Recession are 60% and 40%, respectively. How many workers ..
An office supply company has purchased a light-duty delivery truck for $15,000. It is anticipated that the purchase of the truck will increase the company’s revenue by $10,000 annually, while the associated operating expenses are expected to be $3,00..
It is said that the main job of management (or a manager) is to manipulate the people and the environment in order to successfully implement the strategic plan.
Barro's discussion in chapter's 7-9 does not mention a minimum wage as far as I could tell. Augment the models from these chapters to include this real world phenomenon and asses the impact of a change in the minimum wage. The book referred to here i..
If an individual is taxed at a 17 percent rate for each extra dollar earned, the reference is to the
Take a position on whether the banking industry needs more or less government regulation. Support your position with two examples of the impact of regulation
With respect to recent Federal Government Fiscal Stimulus packages and Federal Reserve policies to control liquidity and counter the credit crisis, what has the Federal Government and the Federal Reserve been doing?
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