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1.2 Soft drink advertising. (5%) The soft drink producer may use TV advertising for stimulation of sales. The cost of advertising is 20 000 euro per 30 seconds commercial, but after ten commercials per day there is a discount of 50% for all additional commercials. How much TV advertising should be bought if it is known that the first commercial increases the revenue at 100 000 euros, but every additional commercial has a 10 000 lower return that the previous one
2. 3. Optimal number of children (10%) Provide marginal analysis of the choice of number of children a person prefers to have. Explain shape of all functions you draw. (Draw your answer on paper and insert a photo of this drawing in this file, instead of my template. If you cannot do this, describe the shape of curves in all graphs by words). a) for average man b) for average woman c) for Rich family-lover man d) Rich society lioness
3. Alburg and Bewille (20%) There are two cities on the opposite sides of the river: Alburg and Bewille. The demand and supply for milk in Alburg is described by functions: Qs= 0,5P - 100 and Qd = 2000 - P. The demand and supply for Bewille is described as: Qs= 0,5P - 200 and Qd = 2800 - P. a) Find equilibrium prices and output of milk in both cities if there is no bridge or ferry service between them. b) How equilibrium will change if there is a bridge and the transportation costs are zero. c) How equilibrium will change if transportation of 1 liter of milk from one city to another costs 10. d) How equilibrium will change if the city administration of Alburg introduces 5% tax on sale (every buyer should pay 5% from every purchase to city budget)? (let us suppose that transportation costs are again zero).
4. 5. Export ban (20%) Russian government introduced the export ban for European food. List all markets which will be affected by this decision and explain how equilibrium will change in these markets (you may describe shifts of curves and change in prices and quantities by words, i.e. without graphs).
The private marginal benefit for commodity X is given by 10 - X where X is the number of units consumed. The private marginal cost of producing X is constant at $5. For each unit of X produced, an external cost of $2 is imposed on members of socie..
Explain how country A with comparative advantage in boot making and country B with comparative advantage in wine making can gain from trade with each other. Include in your explanation from where the gains are coming.
The Gap pursues a segmented market strategy with three main tiers of retail clothing stores: Gap, Banana Republic, and Old Navy. Is this strategy enhancing the competitive positioning of the parent company Is it increasing the cost and lowering th..
Compute output, marginal cost, average cost, price, and profit at the average cost-minimizing activity level. Compute these values at the profit-maximizing activity level.
Analyze the effects of a change in money supply in an open economy under a flexible exchange value system. How are your conclusion affected by the adoption of a fixed exchange rate?
What is the structure for a firm with at least some ability to determine price? How are price and output levels determined rationally? Since price can, at least to some degree, be determined by the seller, is this firm sure to enjoy profits?
Evaluate the overall explanatory power of the regression model. Use a 0 . 05 level of significance. State all your hypotheses and explain your results. Do not use rules of thumb.
Analyse a range of current economic issues and problems and develop and communicate economic arguments in a variety of forms.
how to Write an analysis of an organization researched to examine the specific dynamics within the organization. (The organization must be approved by the instructor.) The analysis may address one or more of the following components.
If the two are not independent, a shift in the demand curve can lead to a shift in the supply curve referred to as? a)supply-side economics b)physician-induced demand
Environmental Protection Agency regulations tend to go by several stages of review and approval before they are implemented.
The technology of a company making high end, solid gold bracelets in Soho (NYC) is explained through the production function;
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