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Consumer Surplus: Equations. Eric Cartman likes to rent computer games on DVDs from a local
Blockbuster outlet in South Park. Cartman's DVD rental demand curve can be written:
QD = 5 - 0.2P
where QD is the number of DVD rentals and P is the rental price per month.
A. Plot Cartman's DVD rental demand curve, using price as a function of the quantity demanded.
B. Use the demand curve to help you calculate the number of DVDs rented per month and the amount of consumer surplus derived at a rental price of $5.
From the regression output, estimate the demand function when income is $40,000 and price is $2 per gallon. Explain the result in terms of R-square, T-test, F-statistic, and signs of each X variables.
In Bayonne, New Jersey, there is a large beauty salon and a number of smaller ones. The total demand function for hair styling per day is Q=180-10P, where P is in dollars.
15 page term paper on International Business from economic view point. The topic is effect of corruption on Chinese and Indian economy and how India's IT sector (or could be any other sector in which compared to China the corruption is less) is ab..
A firm uses a single plan with costs C = 160 + 16Q + .1Q 2 and faces the price equation P = 96 - .4Q. The firm's production manager claims that the firm's average cost of production is minimized at an output of 40 units.
When McDonalds Corp reduced its price of the big mac by 75 percent-Using your knowledge of game theory, what do you think disrupted McDonald's plan?
The American Nursing Association (ANA) reports that there is a nursing shortage. Develop initiatives to move nurses through graduate studies more rapidly.
Illustrate a supply or demand curve shift for the following article-The majority of grain and oilseed futures are traded on the Chicago Board of Trade (CBOT). Government estimates released on Monday, January 12, 2009 sent CBOT grain and oilseed
Why is it not surprising to find that in an oligopoly which sells a basically undifferentiated product like chicken growth hormone all the firms change prices simultaneously, even if there is no explicit price fixing?
Is the compensation scheme at your present place of employment consistent with a reasonable solution to the agent principal problem?
Is the price system a "just" or "fair" way to allocate products: What about medical Services-What are substitution and income effects related to the Law of Demand?
Consider the following two good pure exchange economy: Alfred's utility function is U A (x, y) = min{x, y} and Bob's utility function is U B (x, y) = max{x, y}.
The intent of this week exercise is to familiarize with EXCEL and to gain experience and practice in interpreting the output generated by most statistical packages (EXCEL) when linear regressions are run on a set of data.
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