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Problem 1. A buyer's RP for a total of q copies of Moby Dick is given by 10q-(q^2/2) For example, the RP for one copy of the Moby Dick is $9.5, the RP for 2 copies of the Moby Dick is $18. If copies of Moby Dick are sold at $4 a copy, how many (whole) copies should the buyer purchase to maximize his consumer surplus? Problem 2 You face a market of 30,000 buyers divided into 2 segments (A and B). From each segment you have picked a random sample and offered them a price. Here are the results. 1. Segment A: A random sample of 1000 from a population of 10,000 was offered a price of $20. Of the sample, 200 indicated they would buy at this price and the remainder said they would not. 2. Segment B: A random sample of 15,000 from a population of 20,000 was offered a price of $60. Of the sample 4,000 indicated they would buy at this price and the remainder said they would not. The unit cost of production is $15. Is there sufficient data to determine profit maximizing price? If not, in what way is the data deficient? Reasons specific to the problem rather than generic are preferred. Problem 3. You are the monopoly supplier of laptops to a market consisting of four segments: A, B, C and D. Individuals within a segment share the same RP for laptops. The RPs of each segment and their fraction of the market are shown in the table below: Segment A B C D Proportion 25% 25% 30% 20% RP $800 $950 $1100 $1500 Draw the demand curve for your product (market share vs. price). If a segment is indifferent between buying and not buying, assume they will buy. Now suppose there is a competitor supplying its own laptop at a price of $1100. The RP of each segment for the competitor's laptop are $1000, $1200, $1500 and $1350 respectively. Draw the demand curve for your product in this case. In this case if at a particular pair of prices a segment is indifferent between brands, assume that half the segment buy one brand and the other half of the segment purchase the other brand.
comparative advantage can explain why people pursue different occupations. it can also explain why countries produce
Jason has been making equal annual payments of $7,500 to repay a college loan. He has just made an annual payment and now wants to pay off the rest of the loan immediately.
Small firms can discover the abilities of their workers more quickly than large ones because they can observe the workers more closely at a variety of tasks. Does it then make sense for people with high abilities to go to small firms
examine the following web sites and see how they customized their sites to their target market focused their efforts
What must occur to Aggregate Demand and Aggregate Supply in order for the U.S. economy to experience an increase in Real GDP,and at the same time, not experience a significant increase in the price level
suppose that there are two products clothing and soda. both brazil and the united states produce each product. brazil
Explain what negative externalities are, and why there may be a case for government intervention to address them. Describe some of the ways to correct the negative externalities and the pros and cons of each method.
Suppose that the government chooses conscription. That is, the government forces the representative consumer to supply a units of time to the government as military service C with a lump-sum tax. Use a diagram to show the effects of conscription o..
consider the following model for the macroeconomy.consumption function c a byimport function im k myexport function
consider a market characterized by the following demand and supply conditions px 15 - 2qx and px 3 2qx. the
You should comment on the success and/or failure of its approach and implementation as stated in the text and posted readings and how it may have modified its organization, supply or marketing over time given changes in its markets
1. the demand prices for monthly math and science tutoring services are given belowtype of
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