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1. Demand estimation - Explain briefly the concept of a demand curve and how the market experiment allows it to be known. Explain the procedure in estimating it. State your estimated demand curve. Discuss how well regressions fit the data and give a warning on when your estimates should or should not be used.
2. Cost estimation - Explain how you estimate costs. Show total costs as function of output quantity, and comment on how closely it fits the data. Discuss what marginal costs you estimate and why they might differ from the wholesale cost of inputs. Discuss what might render your estimates obsolete.
3. First price recommendation - Present your recommendations for a profit-maximizing price under the assumption the market conditions and production technology remain stable. Forecast revenue and profits at that price.
4. Second price recommendation - Present your recommendations for a profit-maximizing price assuming costs change so that the fixed cost becomes $3,100,000 with constant marginal cost of $6 per unit of output. Give revenue and profit targets.
What is price elasticity? How does Moore's Law relate to this concept? What is sepcial about falling chip price?
This customer can buy or sell the commodity depending on its cost.
Suppose you want to verify the integrity of certain files, say system files or softwarepackages downloaded from online. Explain how you can achieve this using MAC andhash functions separately. Also, describe the advantages and disadvantages in usi..
What is the civilian labor force participation rate for this country? How many civilians are employed in this country? What is the civilian unemployment rate for this country?
Measures of Risk. Address each source of risk that is measured and relate it to two models addressed in this unit. Your response should be at least 250 words in length. You are required to use at least your textbook as source material for your respon..
There are many dairy farmers in the world and also many Starbucks coffeehouses. Why does a Starbucks coffeehouse face a downward-sloping demand curve while a dairy farmer has a horizontal demand curve
The table listed below demonstrate the quantities of product X that a producer can produce in one growing season on a 1 acre farm using different amounts of labor.
Explain who would the main beneficiaries be of tying Social Security
How many countries are there in the world? Additionally, what is the designation between first, second, and third world countries, and how many of each are there?
What are the differences between a monetary union, a customs union, and a common market? Part II: What is the Free Trade Agreement of the Americas?
Consider the market for minivans. For each of the events listed here, identify which of the determinants of demand or supply are affected. Also indicate whether demand or supply increases or decreases. Then draw a diagram to show the effect on the..
Boeing believes there is a 50% chance that either government will grant the subsidy, and that the subsidy decision will be made simultaneously and independently, with no collusion between governments. Boeing must invest in the project before they ..
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