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The economic analysis division of Mapco Industries has estimated the demand function for its lone of weed trimmers to be : Qd=18,000+0.4N-350Pm+90Ps where N=number of new homes completed in the primary market area Pm=price of the mapco trimmer; Ps=price of its competitor's Surefire trimmer In 2010, 15,000 new homes are expected to be completed in the primary market area. Mapco plans to charge $50 for its trimmer. The Surefire trimmer is expected to sell for $55. 1. what sales are forecast for 2010 under these conditions/ 2. If its competitor cuts the price of the Surefire trimmer to $50, what effect will this have on Mapco's sales? 3. What effect would a 30%reduction in the number of new homes completed has on Mapco's sales ( ignore the impace of the price cut of the Surefire trimmer?)
The incumbent does know its unit cost. Market demand is common knowledge to both firms. The entrant, however, does get to observe the current or pre-entry market price at which the incumbent sells its good.
Keynesian Economics: Suppose the following about the economy of the United States: Government spending = 660, planned investment (Ip) = 215, autonomous consumption is 200, net exports is 100 and taxes are 100. In addition, for each additional $1..
A company is considering replacing its fleet of delivery vans and has a choice between gasoline and diesel powered vehicles. The gasoline powered truck has an initial cost of $34000 and a fuel economy of 9 MPG. The diesel powered model has an init..
if jones bids $2 and smith bids $1 they pay a total of $3, but jones gets the money, leaving him with a net gain of $98 and smith with $1. if both bid the swame amount , the $100 is split evenly between them. what is the pay off matrix for nash eq..
Mining is proposed for a wilderness area that provides two benefits: recreation (due to backpacking opportunities) and biodiversity (there are endangered wildlife and plants). The mining is expected to reduce backpacking visits from the current 10,..
Eva runs a small bakery in the village of Roggerli. She is debating whether she should extend her hours of operation. Eva figures that her sales revenue will depend on the number of hours the bakery is open as shown in the table.
Determine the expected signs of the various coefficients and explain your reasoning.
Which point flat of the curve medicine is experienced in the following example (imagine that antibiotics have been prescribed for a given population of 1000 elderly persons. Number of prescriptions 0,100,200,300,400,500.
What is the amount of 10 equal annual deposits that can provide five annual withdrawals, when a first withdrawal of $3,000 is made at the end of year 11 and subsequent withdrawals increase at the rate of 6% per year over the previous years rate if..
Consider an industry in which chief executive ocers (CEOs) run rms. There are two types of CEOs: exceptinal and average. There is a fixed supply of 100 exceptional CEOs and an unlimited supply of average CEOs. Any individual capable of being a CEO..
A manager can use either way S or B to prepare packages of chiken nuggetes, The firms production is givin as Q= B+S. A- Graph the isoquant corresponding to 4 unites of output. B- What is the marginal product of capital and labor.
Suppose the government imposes the following kind of sales tax: there is no tax for selling the first 35 units, but for selling every uinit beyond the thirty-fifth unit, the seller has to pay the government an additional $12. What is the new optim..
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