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Long-run competition. Most of the cost of a new airplane is in the research and development and in building production facilities. By contrast, the marginal cost of producing another plane is relatively low. a) (2 points) You have been hired by Boeing to recommend pricing and marketing strategies for a new plane. On one graph: Draw a hypothetical Average Total Cost (ATC) curve, the Marginal Cost curve, and a Demand (MU) curve for the plane. (Hint: The point where Demand intersects MC should be below the ATC curve.) b) (2 points) Show the area of net profit (or loss) under perfect competition for planes as the difference between average total cost and the average revenue (or the price). (Note that Boeing’s profit is the number of phones sold times price minus ATC.) What will happen to the price of planes, to sales, and to profits when Airbus comes out with a new plane?? What happens to the industry and the number of companies under competitive conditions? Why?
What political, social, ethical, and legal differences do both organizations face and what impact do these differences have on managment decision making?
A firm’s contribution to its workers’ health insurance is exempt from taxation as worker income. This exemption makes private health care insurance
Illustrate what do economists call the percentage change in real GDP from year to the next. Under a business agreement 70/30 why should the 70% shareholder decision carry all day.
In an economy with income taxes, if the marginal propensity to consume were 0.8, the tax rate on income were 0.2, and the marginal propensity to import were zero: (a) How large an increase in government spending (with no change in taxes) would be req..
A 100 KM tollway costs $5M per km to build. The bonds are for 20 years and pay 10 percent per year [(A/P, 10%,20) = 0.1175]. If annual maintenance costs are $1000 per km, and 20000 vehicles use the tollaway every day, what toll needs to be charged to..
Suppose the own price elasticity of demand for good X is -3, its income elasticity is 1, its advertising elasticity is 2, and the cross-price elasticity of demand between it and good Y is -4. Determine how much the consumption of this good will chang..
The difference between a U-shaped AC curve and an L-shaped AC curve is that: Diseconomies of scale are greater as represented by the L-shaped AC curve. The Marginal Cost (MC) of production increases more rapidly beyond the minimum efficient scale poi..
GDP also consumption both rose by $8 billion in the second round, Illustrate what would have been the size of the multiplier.
Isreal's real GDP was 514 billion new shekels in 2005 and 534 billion new shekels in 2006. Israel's population growth rate in 2006 was 2.2 percent. Calculate Israel's economic growth rate and growth rate of real GDP per person in 2006.
What are the primary differences between the Neoclassical and Institutional explanations of the factors related to income distribution?
A knitting shop orders yam from three suppliers in Toronto, Montreal, and Ottawa. One month the shop ordered a total of 114 units of yam from these suppliers. The delivery costs were $79, $45, and $63 per unit for the orders from Toronto, Montreal, a..
Use the orange points square symbol on the graph below to plot the short-run industry supply curve for the wheat industry.
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