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Assume a monopolist with the following demand and cost relationships.
Q = 400 - 20p
TC = 10 + 5q + q2
Calculate the following:
Profit max price
Profit max quantity
TR, TC, Profit, and the elasticity at profit max q and p.
assuming elasticity is linear and a plan flight holds 310 seats a load factor of 70 mean 70% of the seats are filled. a load factor of 72 means 72% of the seats are filled. what price would it take to fill all the seats.
Game Theory Suppose there are only two car companies, Ford & Chevrolet. Ford believes that Chevrolet will match any price it sets, but Chevrolet too is interested in maximizing profit. Use the price and profit data.
The "graying of America" will substantially increase the fraction of the population that is retired in the decades to come. To illustrate the implications for U.S. living standards, suppose that over the 44 years following 2006 the share of the po..
Jane receives utility from days spent traveling domestically (d) and days spend traveling in foreign countries (f). Her utility function is U(d, f) = 10df. She has $4000 per year to spend on travel. It costs $100 to spend a day traveling domestical..
A perpetuity pays $200 per year. The issuer promises to increase payment by 1 percent per year. The current interest rate is 5 percent. What is the price of this perpetuity
The company you work for has a high speed 5-axis milling machine which was purchased 5 years ago for $200,000 and has a 10 year life. This machine is currently idle and can be used to make a product designed by a research institute
A Chinese official is considering construction of a gondola lift system that transports visitors from the tops of the mountain peaks to the valley at one of the National Forrest Parks in China. The lift system is expected to last for 20 years.
Suppose that households are concerned about the future and cut back on their marginal propensity to consume from 0.80 to 0.667. Try this experiment for the Ms Target case and the Interest Target Case. What happens to the multiplier
Price of copper plunges 5.6 % after hope for a quick resolution to Europe's debt crisis faded. Investors are concerned that signs of slower growth in Europe, the US and china could weaken for the industrial metal.
Tom can produce 40 balls per hour or 4 bats per hour. Tessa can produce 80 balls per hour or 4 bats per hour. a. calculate Tom's opportunity cost of producing a ball. b. calculate Tessa's opportunity cost of producing a ball.
Potatoes cost Janice $1.10 per pound, and she has $6.00 that she could possibly spend on potatoes or other items. If she feels that the first pound of potatoes is worth $1.50, the second pound is worth $1.14 the third pound is worth $1.05, and all ..
Will you change your preferred mode of transportation if your wage rate rises to $20 per hour. Assume you work five days a week and time spent riding on a bus or driving a car does not directly enter your utility.
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