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Suppose that the market demand curve for a new drug is represented by P = 100 - 2Q, where P is the price in dollars per dose and Q is the annual output. (The marginal revenue curve is MR = 100 - 4Q). Suppose there is a single supplier who faces an marginal cost and average cost of $20 per dose. What are the monopolists profit-maximizing price and quantity? What is the resulting deadweight loss relative to the competitive outcome?
Flintstones, Inc., markets a small solid cylinder of a spark-producing alloy used to ignite the fuel in residential furnaces. Currently, the company's products are sold to other manufacturers who then incorporate it in their merchandise. The yearl..
A -$2500 746 746 746 746 746 B -$6000 1664 1664 1664 1664 1664 The minimum attractive rate of return is 8%. After calculation we can find that the internal rates of return: for A, IRRA = 15%, for B, IRRB = 12% and for B-A, IRRB-A = 9.8%.
Suppose that, instead of a minimum wage of $4, the government is providing a subsidy to employers to raise the equilibrium wage to $4. How much will this subsidy have to be and what will the new equilibrium level of employment be
Suppose the demand curve for a monopolist is Qd=500-P, and the marginal revenue function is MR=500-2Q. The monopolist has a constant marginal and average total cost of $50 per unit. a) Find the monopolist's profit-maximizing output and price.
Assume Firm Y's production function is given by the following Cobb Douglas equation: Q = 0.5 x L0.6 x K0.5 where L denotes labor and K denotes capital. a. Does the production function exhibit increasing, decreasing or constant returns to scale Expl..
A Graybar motor costs $7000 and has an electrical efficiency of 89%. A Blueball motor costs $6000 and has 85% efficiency. Neither motor would have any salvage value, since the cost to remove it would equal its scrap value.
As a budding entrepreneur, you have purchased a small bakery. After some market research, you have estimated that your customers' willingness to pay for a donut/coffee combo falls into 9 categories ($2.75, $2.50, $2.25, $2.00, $1.75, $1.50, $1.25,..
Five annual deposits in the amounts of ($1,200, $1,000, $800, $600, and $400) are made into a fund that pays interest at a rate of 9% compounded annually. Determine the amount in the fund immediately after the 5th deposit
Consider the simple linear regression model without an intercept, y = ß1x + u, with the assumption E(u|x)=0. Also assume that E(x)=0 Show that E(y)=0 and using this as well as E(x)=0 show that the covariance between x and y is given by E(xy) and that..
What happened to the marginal product of labor between 1960 and 2007 calculate the marginal product numerically as the extra output gained by adding 1 million workers in each of the two years.
ADVANCED ANALYSIS Let MUA = z = 10 - x and MUB = z = 21 - 2y, where z is marginal utility per dollar measured in utils, x is the amount spent on product A, and y is the amount spent on product B. Assume that the consumer has $10 to spend on A and ..
Suppose that the nominal rate of interest is 4 percent and the inflation premium is 2 percent. What is the real interest rate Alternatively, assume that the real interest rate is 1 percent and the nominal interest rate is 6 percent.
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