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Your firm sells a perfume. The daily demand for your perfume estimated by your economists is given by P=150-5Q Your marginal cost is constant at $2 per bottle, fixed cost is 0, and ATC is also constant at $2. (a) Write down the expression for Marginal Revenue. (b) Choose the quantity and the price of a bottle of perfume to maximize your profit, assuming that you can only charge one price. (c) Compute the profit from part (b) (d) Find the profit you could earn if you were able to perfectly price discriminate. (e) An experienced salesman offers his service (help you perfectly price discriminate) for $800. Based on c) and d), do you accept the salesmans offer? Show work, and explain briefly.
If Sammy refuses to contribute to the butterfly garden, he'll not be able to enjoy its benefits if it is built.
Based on your answers in a also b, how can you reconcile the president's statement with economics. Can you suggest how his statement could be modified to be consistent with the IS-LM model.
What price would firm set to maximize profit. Compute profit and Consumer Surplus.In diagram given above blue shaded region is consumer surplus and green shaded region is deadweight loss.
Economies grow for a variety of reasons. Which of the following is not a primary cause of economic growth?
Despite the absence of patent protection, Semi-Salt has averaged accounting profits of 5.5 percent on investments since it began producing polyglutamate-a rate comparable to the average rate of interest that large banks paid on deposits over this ..
Assume a fixed cost for a process of $15k. The variable cost to produce each unit of product is $10 and the selling price for the finished product is $25. which of the following is the number of units that has to be produced and sold to break-even..
Discuss the capture of the regulatory agency and your prediction as to the capture of the replacement regulatory agency and the politicians in the future.
Use the Skin Deep site to search for some personal care products that you use. Elucidate how do they rate.
The market demand curve for the industry is D(P) = 240 ? P/2. At the equilibrium market price, each firm produces 20 units. What is the equilibrium market price, and how many firms are in this industry?
Elucidate in writing to what market your derivation brings equilibrium and how it accomplishes this. What are the principal differences between flexible and fixed exchange systems.
explain and categorize the cost of inflation. Because of inflation has risen, the L.L Bean Company decides to issue a new catalog quarterly rather than annually.
Suppose that MC=4q, where MC is marginal cost. The perfectly competitive firm maximizes profits by producing 10 units of out output. At what price does it sell these units.
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