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Q1. Is it advantageous for all countries to utilize cheaper labor or does importing your goods back to the U.S. still cost a firm to reach their niche market?
Q2. Short Run Profit Maximizing
The manufacture of high-quality flatbed scanners is trying to decide what price to set for its product. The costs of production and the demand for the product are assumed to be as follows: TC = 500,000 + 0.85Q + 0.015Q2 and Q =14,166 - 16.6P. Determine the short-run profit maximizing price.
Plot this information on a graph showing AC, AVC, MC, P and MR.
q1. suppose a health expenditure function is specified in the following manner e 500 0.2y where e represents annual
Calculate the elasticity for each variable at that point and briefly comment on what information this gives you for each variable.
What would happen if suppliers charge less than the equilibrium price for your good or service.
The manager is concerned that, despite the fact that the firm's competitors are comparatively small, collectively their annual revenue growth has exceeded 50 percent over each of the last five years.
The government sets a price floor of $5 in the above market. Is this price control binding? If so, is there a shortage or a surplus and what is its magnitude.
He has an endowment of w1 = 100 and w2 = 0 and faces relative prices p1/p2 = 2. If the relative price decreases to 1, what are the Slutzky substitution and income effects on the consumption of good 1?
q.mirk labs is a pharmaceutical company that currently enjoys a patent monopoly in europe canada and the united states
Now assume that production technology improves such that average total costs decline by $5 a unit. Describe the process this industry will go through as it moves to a new long-run equilibrium.
The number of taxicabs in Motorville and the taxicab fares are regulated. The fare currently charged is $5 a ride. Motorville taxicab drivers want to obtain government's permission.
Should the company buy or lease the fleet of trucks that it uses to transport it's products to market?
The consulting firm McKinsey and Company expects this combination of medical care and tourism in India to approach $2 billion a year by 2012.
q.in the united states private schools charge tuition and compete against private schools that do not. one policy
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