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The marginal and average cost curves of taxis in metropolis are constant at $.20/mile. The demand curve for taxi trips in metropolis is given by P = 1 - .00001q, where P is the fare, in dollars per mile, and Q is measured in miles per year. The industry is perfectly competitive and each cab can provide exactly 10,000 miles/yr of service. I am having trouble graphically or mathmatically finding the equilibrium fare and equilibrium number of cabs.
Short and Long-term costs business comparisons. Select directly comparison business concepts and generally discuss the FC, VC, break-even quantities, economies of scale and diseconomies of scale for each.
Suppose your product is Wendy's hamburgers. First "draw" the demand and suppy curve and see how the equilibrium price and quantity is determeined.
What does the market for sugary sodas look like? Provide a supply-demand graph with realistic prices.
An industry is composed of 20 firms, all with equal sales. The Herfendahl Index ratio in this industry is a. 1000 b. 500 c. 800 d. This cannot be determined from the information given.
Early this year, thousands of Americans flocked to Apple's outlets to purchase iPad 2 sold by iconic brand. Long queues snaked outside many of Apple's outlets dotted over the states.
Describe supply and demand as it relates to airport market structure(oligopoly). Describe customers options - given the customers are price sensitive
Perform a White test for heteroskedasticity using auxiliary regression
What would be the equilibrium quantity and equilibrium price? Assume the Government imposes a $5 per unit tax on the seller, which equation would be affected and how?
Demand for DVD rentals at a video store is described by the equation: Q= 4,000-500P, where Q denotes the number of DVDs rented per week and P is the rental price in dollars.
Write down the difference between Equilibrium price and Equilibrium quantity. What role does elasticity place?
What is your expected rate of return over the one-month holding period?
Problem based on Oligopoly and demand curve, Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?
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