Minimum acceptable price to the seller

Assignment Help Business Economics
Reference no: EM13852521

Jennifer buys a piece of costume jewelry for $33 for which she was willing to pay $42. The minimum acceptable price to the seller, Nathan, was $30. Jennifer experiences:

Reference no: EM13852521

Questions Cloud

Identifying potential malicious attacks : Identifying Potential Malicious Attacks
Find the prices that form an equilibrium : Suppose two firms sell an homogeneous product; they compete in prices. Their respective marginal costs are MC1(q) = 10 and MC2(q) = 20. Find the prices that form an equilibrium (for simplicity and reality, assume that prices are quoted in units no sm..
Compete in prices in homogeneous good market : Suppose three firms compete in prices in an homogeneous good market. Their costs are the same, mc = 10 (marginal cost). Find the equilibrium prices of this game. (Are there many equilibria? If so, notice what all of them have in common).
What is the firms cost function : Gail works in a flower shop, where she produces 10 floral arrangements per hour. She is paid $10 per hour for the first eight hours she works and $15 an hour for each additional hour she works. What is the firm’s cost function? What are its AC, AVC, ..
Minimum acceptable price to the seller : Jennifer buys a piece of costume jewelry for $33 for which she was willing to pay $42. The minimum acceptable price to the seller, Nathan, was $30. Jennifer experiences:
Kind of returns to scale do production functions exhibit : The BlackBerry production function is Q = 2.83L1.52K0.82. Epple et al. (2010) estimate that the production function for U.S. housing is q = 1.38L0.144M0.856, where L is land and M is an aggregate of all other mobile, non-land factors, which we call m..
Show labor market with a binding minimum wage : Using a supply-demand diagram, show a labor market with a binding minimum wage. Now, use the diagram to show those who are helped by the minimum wage, and those who are hurt by the minimum wage.
Interactions between households and firms in simple economy : Explain briefly the various parts of the circular flow diagram representing the interactions between households and firms in a simple economy.
Money demand is greater than the real money supply : If the real money demand is greater than the real money supply, interest rates must rise to reach equilibrium in the money market as institutions sell bonds to obtain more money. The federal government’s control of the money supply, which influences ..

Reviews

Write a Review

Business Economics Questions & Answers

  Statements illustrates diminishing marginal utility

Economists who support minimum-wage legislation are likely to believe that the. Which of the following statements illustrates diminishing marginal utility? Adverse selection--buyers of life insurance will likely have higher than the average death rat..

  Q1 suppose that businesses buy a total of 170 billion of

q1. suppose that businesses buy a total of 170 billion of the four resources labor land capital and entrepreneurial

  Illustrate what will be the difference in the two bank

If you deposit RM3,000 with each bank, illustrate what will be the difference in the two bank account balances after two years.

  Efficiency of monopolistic and perfectly competitive markets

Compare the efficiency of monopolistic and perfectly competitive markets. Discuss the economic factors that lead to the development of monopolies. Examples of monopolies include electric utilities, railroads, airlines, cable television, and sports le..

  State intervention used by mercantilists

What are the major economic justifications for state intervention used by mercantilists? What are the major types of problems with state intervention as they pertain to international political economy?

  Suppose that the most popular car dealer in your area sells

Suppose that the most popular car dealer in your area sells 10 percent of all vehicles. If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car dealers..

  What is the elasticity of supply for new homes

In 2013, the market price for a 3,000 square foot home in South Tampa, Florida was $350,000 and 358 new homes were built. In 2014, the market price for a 3,000 square foot home in South Tampa, Florida increased to $385,000 and, holding all else equal..

  A change in the discount rate shifts the supply of reserves

A change in the discount rate shifts the supply of reserves. Friedman's theory of money demand is more complex than Keynes's.

  Using accelerated depreciation rather than straight line

Using accelerated depreciation rather than straight line would normally have no effect on a project's total projected cash flows but it would affect the timing of the cash flows and thus the NPV.

  Definition of economic growth

Which of the following is the correct definition of economic growth?

  What was GDP deflator values used for these two calculation

The Commerce Department revised its estimate of real GDP to $3.877 trillion, up from the earlier estimate of $3.835 trillion. Before adjusting for inflation, GDP was $4.603 trillion, up from $4.523 trillion.

  Calculate the individuas share of income tax

There have been some discussions about the possibility of IRS applying only a flat tax rate in the future to every individual's income in order to calculate the individual's share of income tax.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd