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1. The inverse demand for a drug that treats insomnia is given by P = 6,000 - 20Q, where Q measures the number of drug treatments and P is the price per treatment. Suppose that the marginal cost per drug treatment is constant at $20. What is the profit-maximizing price per drug treatment?
2. Suppose the market for peaches is perfectly competitive and unregulated. Suppose also that the chemicals used to keep the peaches insect-free damage the environment by an estimated $0.5 per bushel of peach. Suppose QD = 1000 - 100P and QS = -100 + 100P. The price consumers would have to pay for the market to achieve the socially optimal level of production is
A series of five constant dollar payments ( beginning with 5k at the end of the first year) are increasing at 7% per year. Assume the average general inflation is 5% and the market interest rate is 12% during the inflationary period. What is the equi..
Bob and Ray buy only two goods, ice cream and root beer. They both get their root beer at Root Beer City, where they pay $1 a bottle. Bob is indifferent between the baskets (1, 3) and (2, 2). Ray is indifferent between the baskets (2, 2) and (3, 1). ..
Was the Italian Renaissance a significant break with the past? Explain why or why not with reference to specific examples of change or continuity from one area of cultural activity (ex: politics, art, architecture, literature, medicine or science).
q. the performance by patrice pbp company purchased a centaur computer controlled manufacturing milling machine for
A market with demand Q = 10 - p is supplied by a monopoly with costs C(Q) = 6 + 2Q. Calculate the equilibrium price, output, and monopoly profits. What would be the equilibrium if the market were supplied competitively by firms, and each firm had the..
Suppose you are the manager of a restaurant that serves an average of 400 meals per day at an average price per meal of $20. On the basis of a survey, you have determined that reducing the price of an average meal to $18 would increase the quantity d..
List five different items that you would use in setting a pricing strategy for product. What is at the heart of a successful customer service approach for a business. List and define four types of mergers. Compare and contrast Schumpeterian rivalry v..
The Canadian government administers two programs that affect the market for cigarettes. Health Canada media campaigns and labeling requirements are aimed at making the public aware of the dangers of cigarette smoking. At the same time, Agriculture an..
Explain the role and function of each agency in a 6- to 9-slide power point presentation with detailed speaker notes Include one significant regulation that each agency enforces.
Compared with lower inflation rates, a HIGHER inflation rate will (increase/decrees) the after-tax real interest rate when the government taxes NOMIAL interest income. This tends to (encourage/discourage) saving, thereby (increasing/decreasing) the q..
John bought a home after graduation and he is saving for the closing costs ($3000) and down payment. To avoid paying mortgage insurance and to get a better interest rate, he needs a down payment of 20%. He can afford a monthly payment of $700 based ..
Consider economic theory: a. Briefly explain how a map is a model. b. Given an example of how a particular model can be appropriate in one context and inappropriate in another.
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