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The market for gilders is initially competitive and the market demand is: P = 315 - 0.6QD . The combined marginal costs of the firms in the gilder industry are: MC = 9 + 0.3Q.a. Draw the demand, and marginal cost curves. Calculate and show how much these firms will sell and what they will charge.
b. Now Massey Corp. invents a new technology that allows her firm to produce gilders at a constant marginal cost of $9. There are large fixed costs amounting to $20,000 to adopt and maintain (each year) this new technology, but she is able to monopolize the market. Draw the situation for thegilder market showing the demand Massey Corp. faces and its MR and MC cost curves.
c. How much will Massey Corp. produce and what price will they charge?
d. How much profit does Massey Corp. make?
Suppose nominal GDP in 2005 was $14 trillion, and in 2006 it was $15 trillion. The general price index in 2005 was 100, and in 2006 it was 103. Between 2005 and 2006, real GDP rose by what percent
The mean annual income for people in a certain city (in thousands of dollars) is 38, with a standard deviation of 31. A pollster draws a sample of 43 people to interview. Find the 68th percentile of the sample mean.A certain car model has a mean..
You expect to receive a payment of $104 one year from one. Your discount rate is 4 percent. What is the present value of the payment to be received Suppose that the discount rate is 5 percent what is the present value of the payment to be received
Why is it important for a profit maximizing firm to consider market structure in determining the price and output of its product or service b. How do you determine the profit maximizing level of production in terms of price, marginal revenue and m..
the company's variable cost for siding are: Output in of houses 2 at VC $26,000,3 housesat $32,000, 4 at $36,000, 5 at $42,000, 6 at $50,000, 7 at $60,000, 8 at $72,000, 9 at $86,000 and 10 house at VC $102,000.
A monopolist produces according to the following demand curve: p=200 - 4Q. Assume that the firm faces a constant marginal cost and constant average total cost of 60 per unit produced. A.calculate the optimal output that this monopolist should produ..
What are the highest and lowest payments from the writer that the beekeeper-farmer team will accept for the sixth day Assuming that the farmer can dispose of the $7 from the writer as she wishes, what range of payments will the beekeeper accept
Draw the indifference curve for U = 20. For what values of p1/p2 will the optimum be \(x_{1} = 0\) If neither x1 and x2 is equal to zero and the optimum is unique, what must be the value of x1/x2?
A firm operating a chain of drug stores consider to open a new store in one of locations. The management of firm figures that at the 1st location the store will show an yearly profit of $20,000 if it is successful and an yearly loss of $2,000 if it i..
Consider a monopolistically competitive market with N firms. Each firm's business opportunities are described by the following equations: Demand: Q=100/N-P Marginal Revenue: MR=100/N-2Q Total cost: TC=50+Q(squared) Marginal Cost: MC=2Q
Calculate the optimal amount of pretzels and soft drinks that minimizes this firm's costs and how many frames do you provide each month?
In Milky Way Galaxy, a class of 2,000 students took a course in Astronomy. The 1st exam scores and final exam percentage reached earth, but transmission broke off after only a dozen students' scores were received.
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