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Ajax, Inc. is a monopolist. The estimated demand function for its product is Qd = 120 - 0.8P + 12Y + 4A Where Qd denotes quantity demanded, P denotes price, Y denotes personal income (in thousands of dollars), and A denotes advertising expenditures in hundreds of dollars. Ajax's marginal cost function is given as MC = 21 + 4Q Assume Y equals 3 and A equals 3 and fixed costs equal $1000
a. What is the inverse demand function? (The equation demand equation in the form P = a - bQd)?
b. What is the profit maximizing price and quantity of output for Ajax, assuming it is an unregulated monopoly? What are its profits?
c. If fixed costs increase to $1200, what will happen to equilibrium price and quantity?
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.
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For simplicity, assume MSRP is the cash purchase price. The vehicle will be driven 1,000 miles per month and you hope to can sell either vehicle after 36 months for 70% of the purchase price (use the MSRP). Sales tax of 8.4% is paid at time zero a..
Where PX is price of donut; PC is price of coffee; M1 is Ross's income; M2 is Jennifer's income. Suppose Price of coffee is $10, Ross's total income is $1000 and Jennifer's total income is $2000. A) Find market demand function for donuts. If marke..
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of this sales revenue he must pay the manufacturer a wholesale cost of $620,000 he also pays wages and utiilty bills totaling $210,000 if he doe not operate this piano business he can work in an accounting firm and recieve an annual salery of $45,..
You have worked as a real estate agent for 10 years and are earning about $100,000 per year with your current agency. You prepared the following information to use in evaluating the financial feasibility of starting your own agency.
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Casper consumes cocoa and cheese. Cocoa is sold in an unusual way. There is only one supplier, and the more cocoa you buy from him, the higher the price you have to pay per unit. In fact y units of cocoa will cost Casper y2 dollars.
Suppose that the money demand function takes the form (M/P)^d = L(i,Y) = Y/(5i) a. If output grows at rate g, at what rate will the demand for real balances grow (assuming constant nominal interest rates) b. What is the velocity of money in this econ..
Billy Penny is trying to determine how many units of two types of lawn mowers to produce each day. One of these is the Standard model, while the other is the Deluxe model. The profit per unit on the Standard model is $60, while the profit per unit..
A company would like to have a bond offering to raise $100M for the construction of a new plant. By the time the bond goes to market, they receive only $93M. The bond is a 10 year offering with quarterly payments. The annual percentage interest ra..
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