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BMW sells 5,000 vehicles in the US. The export price is €40,000. The exchange rate is €1= $1.25. US price elasticity of demand for the German import, in terms of the $ price, is-2. The cost of each vehicle is €30,000.a. What is the current € profit to the exporter?b. Suppose the € depreciates to a new rate €1= $1.15. How many cars will the US buy? What will be € profits to BMW?c. If BMW adjusts its € price to maintain the original $ price, how high will it be its € profits?d.Therefore, should the car maker keep the original € price, the original $ price or do nothing?
Given the simple demand schedule information in the table above, calculate the coefficient of price elasticity of demand four times. Note that the coefficient of price elasticity of demand over the entire range of the demand schedule is 1, indicat..
Alvin's utility function is U(W) = W. Barry's utility function is U(W) = W^2. Carl's utility function is U (W )= sqrt(W) . Each has wealth of only $100. An investment of that $100 has a 10% chance of netting $1,000 and a 90% chance of netting a lo..
Consider a seller who values a car at $9,500 and a buyer who values the same car at $10,000. What total surplus will result from a transaction between the two when the seller is faced with the following sales tax rates: 0%, 2%, 4%, 6%, and 8%
The market for college hockey players is characterized by the following supply and demand curves, where Q is the number of athletes and P is the weekly wage in excess of their scholarship payments QD = 1600 - 20P, QS = -900 + 30P
The owner of a small car-rental service is trying to decide on the appropriate numbers of vehicles and mechanics to use in the business for the current level of operations. He recognizes that his choice represents a trade-off between the two resou..
(Y) Dollars per unit 3.00, 4.50, 5.00, 6.00, 8.00 (X) Units per Period 5,000 - 8,000, - WHAT IS THE MONOPOLIST'S PROFIT-MAXIMIZING OUTPUT - At the profit-maximizing output rate, what are the monopolist's average total cost and axerage revenue
Mac Rowe doesn't sweat the petty stuff. In fact, he just cannot detect small differences. He consumes two goods, x and y. He prefers the bundle (x,y) to the bundle (x',y') if and only if (xy - x'y' > 1) . Otherwise he is indifferent between the tw..
What will be the net future worth at the end of year 12 of the following income and expenses at an interest rate of 10% per year: Year Income, $ Expenses, $ 0 15,000 11,000 6 - 12 8,000 4,000 1 - 5 9,000 5,000
During his first year at school, Ximing buys eight new college textbooks at a cost of $50 each. Used books cost $30 each. When the bookstore announces a 20% price increase in new texts and a 10% increase in used texts for the next year, Ximings fa..
Suppose instead that the goverment wished to raise GDP to 7,100, but it was unwilling to run a surplus or deficit. Therefore the change in government purchases would have to be matched by and equal change in taxes. What change in government purcha..
Suppose Springfield's economy moves into a recession and Y falls to $9 and rising unemployment allows widget makers to reduce wages to $18 per hour. What happens to the supply and demand curves.
If sales fall by 20 percent from 1 million papers per month to 800,000 papers per month, what happens to the AFC per paper, the MC per paper, and the minimum amount that you must charge to break even on these costs
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