What extent the traditional definition of economics

Assignment Help Business Economics

Reference no: EM1350628

Q. To what extent is to greek proverb "Happiness is the full utilization of your capacities along lines of excellence." similar and different from the traditional definition of economics?

Q. Suppose a monopoly firm sells a product in two markets with demand curves
P1 = 300 - 0.5Q
P2 = 200 - 0.5Q2
and total cost function is TC = 22000+100Q
in order to maximize profits
(a) What price he should charge in two markets?
(b) What quantities be should sell in the two markets?
(c) What are price elasticities in these two markets?

Reference no: EM1350628

Questions Cloud

What is law of diminishing returns : What is the Law of Diminishing Returns. Discuss a company's two short run options: 1. stay open or 2. shut down.

Define the angular frequency of the blocks vibrations : A pendulum is 1.20 metres long. What is the speed of the bob when it passes by its equalibrium position if it is pulled aside until it makes an angle of 25 degrees to vertical.

Define whether or not the law should prohibit : Define whether or not the law should prohibit all immoral behavior and provide a rationale to justify your answer.

Parenting-love-selflessness : He argued that because it feels good to do things for those we love, those acts do not count as selfless. What do you think? Was he right?

What extent the traditional definition of economics : To what extent is to greek proverb "Happiness is the full utilization of your capacities along lines of excellence." similar and different from the traditional definition of economics.

Explain dynamic programming approach-longest weighted path : Assume we have a directed acyclic graph G = (V, E) with real-valued edge weights and two distinguished vertices s and t. Explain a dynamic programming approach for ?nding a longest weighted simple path from s to t.

Determine effective annual rate : First Choice Bank charges 9 percent APR compounded quarterly on its business loans. National Emerald Bank charges 3 percent APR compounded monthly.

Explain john''s standard of living will reduced : Explain John's standard of living will reduced even if the amount of money he earns is

Elucidate what prices he should charge in two markets : Elucidate what prices he should charge in two markets. Illustrate quantities be should sell in the two markets.

User Account

All Pages