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PRODUCER PROBLEMS
1) Production Functions and Marginal Products: How do inputs turn into outputs?
2) Iso-quants/-costs and cost-minimization: What’s the best way to produce a given level of output?
3) Cost Curves and Time: What is the relationship between MC, AC, and AVC and do how those curves change in the short-run and long-run?
4) Profit Maximization: How much should the firm produce, and how to produce it, at given output prices?
5) Supply: How does output respond to changes in output price, at the firm and market levels, in short-run and long?
Two restaurants are on the same block. One has been opened for 10 years and its a thriving business. The other one has been open for only a year. They both want to expand. When the two owners told the local bank looking for a loan, which one is likel..
The manager of a vacation resort has claimed that, on average, a guest spends at least $1600 at the resort during a one week stay, including meals and entertainment. A member of the accounting staff does not believe the amount is that high. what woul..
Suppose that the government raises the minimum wage to $10.10. Thinking of the four Marshall's Rules of Derived Demand as they apply to a particular industry, analyze the conditions under which job loss among teenage workers in that industry would be..
Suppose that you own a car wash and that its total cost fuction is: C= 20 + 2Q + .3Q^2, where C = total cost (in dollars) per hour and Q is the number of cars washed per hour. You receive 5 dollars for each car washed. What is the maximum profit that..
How do entities determine their fiscal period? Give an example. How would you define a highly leveraged company? What ratio would you use to determine this? Tell me one thing you learned from the guest lecture, and how do you think it may be useful f..
Consider a typical graphical model of market supply and demand as applied to the market for two endangered species products: rhino horn and elephant tusk (two separate markets). A global ban on the trade of endangered species products has been impose..
The Great Inflation affected the banking industry through the following channel(s).
He claimed that he was not bound by the regulations because he never knew that they had been adopted. Is he bound by the regulaions?
The Japanese car makers [Toyota, Honda and others] have almost eliminated the 'lemon' in new car markets. This is an example of positive adverse selection. Explain with examples how and when positive adverse selection can arise.
Analyze marketing strategies in reaching markets with their products or services. Continue with a detailed description of marketing management strategies used in the implementation of the marketing plan. Conclude with the integrative strategies used ..
How has Apple positioned itself to take advantage of unique designs to attract a sufficiently large niche market to surpass the competition in the United States and China? What does the Apple experience tell us about risks associated with strategic a..
Suppose that your production facility can only produce 1,000,000 pills per year. Illustrate what is your optimal price and quantity given the production constraint.
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