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In the town of Inksville, Tats for Tots (i.e., TFT) is the only tattoo parlor dedicated to the under-18 age group. Being a monopolist, TFT hires you to advise it on the best price and quantity of tattoos to sell each month. You estimate the following inverse monthly market demand for tattoos:
P = 1000 - Q,
Where P is the price charged per tattoo and Q is the overall quantity of tattoos produced and sold each month. You also estimate the monthly total cost (TC) for TFT, given by the following:
TC = 20,000 + 200•Q.
Determine the values of P and Q which maximize TFT’s profit. What is TFT’s profit at these optimal values of P and Q?
If the growth rate of the money supply is 6?%, velocity is? constant and real GDP grows at 4?% per year on? average, then the inflation rate will be what %? If the growth rate of the money supply increases to 18?%, velocity is constant and real GDP g..
Operating expenses are expected to be $2000.00 the first year and increase by $500.00 each year during the life of the equipment. Is this is a good investment assuming equivalent annual methods?
Explain is any outcome generated by a Nash equilibrium not generated by any subgame perfect equilibrium.
Why do you believe that it is important for managers to understand both short run and long run supply and demand? Cite one hypothetical or real life example that illustrates your response.
Suppose a consumer's level of satisfaction is given by AB2 and he/she has a total of $10 to spend on goods A and B. If the price of A is $1 and the price of B is $2, and assuming you can only purchase whole units (not fractional) of A and B, how many..
What is the expected impact of fall the business confidence. Explain with suitable diagram. Will monetary policy help to increase the investment by private sector in the presence of fall in the business policy.
A perfectly competitive firms average fixed cost function is AFC = 30/Q, its average variable cost function is AVC = 6 + 0.1Q, and it marginal cost function is MC = 6 + 0.2Q. The firm optimizes by producing the level of output that maximizes profit o..
In which directions are they pushing or pulling the U.S. economy. Also, do you think the gap between real GDP and potential GDP will widen or narrow.
According to your textbook, the United States has attempted to set policies and establish regulations that are fair and equitable to both users and providers in the transportation industry. What are the advantages and disadvantages of increased regul..
If my preferences are such to I am indifferent among apples also mangoes but I prefer mangoes to cantaloupe then draw my highest indifference curve.
q. suppose the point of tangency that characterizes long-run equilibrium for a monopolistically competitive firm occurs
Suppose the current equilibrium price of a quarter-pound hamburger is $5 and 10 million quarter-pound hamburgers are sold per month. After the federal government imposes a tax of $.50 per hamburger, the equilibrium price of hamburgers rises to $5.20 ..
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