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Suppose a typical consumer's inverse demand function for bottled water at a resort area where one firm owns all the rights to a local spring is given by P = 15 - 3Q. The marginal cost for gathering and bottling the water is $3 per gallon. a. Find the optimal number of bottles to package together for sale and the profit-maximizing price to charge for the package. b. Show the solution graphically.
An upstart phone company has only two potential large customers, Firm A and Firm B. Firm As monthly demand for phone calls is Q1 = 2; 800 - 200p and Firm 2s is Q2 = 5; 000 - 100p. The marginal cost of providing a phone call is 6 cents.
Demand P (q)=100-2q Total Costs C(q)=10+20q . Calculate marginal cost for a firm in this industry. The marginal cost is graphed below, what is special or interesting about this marginal cost function. Verify the monopolist equilibrium is (Q=20,P=6..
If an investor deposits $1000 now, $3000 three years from now, and $600 per year for 5 years starting 4 years from now, how much money can be withdrawn every year forever beginning 12 years from now, if the rate of return on the investment is 8%.
Suppose that the aggregate demand and aggregate supply schedules for a hypothetical economy are as shown at the top left of the next page. a. Use the data above to graph the aggregate demand and aggregate supply curves. What is the equilibrium pri..
julie has preferences for food, f, and clothing, c described by a utility function u(f,c)+f*c. her marginal utilities are Muf=c and Muc=f. suppose that food cost $1 a unit and that clothing costs $2 a unit. julie has $12 to spend on food and cloth..
Consider the case of two countries that start with equal levels of GDP. The growth rate of the first country is 3% while the growth rate of the second country is 4%. After 25 years, the level of GDP in the second country is more than 25% larger.
Suppose you are the production manager for Widgets, Inc. Your job is to produce a fixed amount of output at the lowest cost possible. When you take over the position, you find that the price paid for a unit of labor is $20 (W = $20), and the price..
If the Fed's inflation target is 2 percent, potential output growth is 3.5 percent, and velocity is a function of how much the interest rate differs from 5 percent: % ? V - 0.5 A (i - 5) Suppose that a model of the economy suggests
Suppose that the total benefit and total cost from an activity are, respectively, given by the following equations: B(Q) = 28Q - 5Q^2 and C(Q) = 100 + 8Q. (Note: MB(Q) = 28 - 10Q and MC(Q) - 8.)
Hillary can invest her family savings in two assets: riskless treasury bills or a risky vacation home real estate project on an Arkansas river. The expected return on treasury bills is 4 percent with a standard deviation of zero.
Assume that a state government currently provides no child care subsidies to working single parents, but it now wants to adopt a plan that will encourage labor force participation among single parents. Suppose child care costs are hourly.
Normal people are willing to pay $250 and their desire to purchase doesn't vary with time. Ignore the time value of money and compute the optimal pricing scheme of the iphone. Assume that there are equal numbers of each customer type and the MC of..
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