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VTAARPS, Inc. currently sells a ‘Tailgating HID’ and is able to control the demand for the product by varying the selling price. The approximate relationship between price and demand is p = $ 38 + (2700/D) − (5000/D^2) for D > 1 where p is the price per unit in dollars and D is the demand per month. VTAARPS, Inc. is seeking to maximize its profit. Its fixed cost is $1,000 per month and the cost for each HID is $40. What is the number of units that should be produced and sold each month to maximize profit? Show work and refrain from using Excel.
Discuss the pros and cons of free trade, considering the perspectives of both advocates and critics.
The purchase of a used pick up for $14,000 is being considered. Records for other vehicles show that costs for oil, tires, and repairs about equal the cost for fuel. Fuel costs are $2500 per year if the truck is driven 10,000 miles. Use a weighted es..
Assume that the state government is interested in subsidizing the local production of steel. The current price of steel is $1600 per ton and the government wants to provide a subsidy of $100 per ton. Use a diagram to indicate the pre-subsidy situatio..
If the price-taking firm was earning zero economic profits before the dynamic efficiency, will the level of profits change after? If so, show the extent of the change.
GRAPH the long-run profit of a monopolistically competitive firm. Do Monopolistically competitive firms generate a long-run profit? Why is a monopolistic competition said to be inefficient?
Illustrate what might account for these trends. Compute currency in circulation as a percentage of M2.
Suppose that the supply curve in question 1 above product is given by P=12+(2/3)Q where P is in thousands of dollars per auto and quantity is in millions of cars per year. What other things are held constant when one moves along a supply curve?
In terms of the consumer theory set forth in this chapter, can you explain the meaning of the following statements? a. "I think you get more for your money from Nike than from Reebok." b. "I wanted to buy a Boxster rather than a Malibu, but it just w..
The algebraic expression of this demand equation is Q = 36 - 2P and the inverse demand equation is P = 18 - 0.5Q. how the algebraic expressions were found.
What is the firm's profit-maximizing (or loss minimizing) output (Q) level? What is the amount of its economic profits (or losses) at this output level? What would be the firm's decision at this price/output level?
For the Portfolio Project, conduct an analysis of a recent article and provide your evaluation and outcome expectations in an articulate and informative paper that discusses: A minimum of three general economic principles related to the article. Iden..
Economies of scale and dis-economies of scale? What do these terms mean, when do they occur and how do they differ? Can you provide an example of economies and scale and dis-economies of scale.
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