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Jones Company operates within a monopolistically competitive industry. The estimated demand for its products is given by the following inverse demand function P = 1760 - 12Q It finance department has estimated its total cost function as TC = 24,000 + 5 Q - 15 Q2 + 0.333 Q3
a. What is the level of output that maximizes short run profits?
b. What is the profit maximizing price?
c. What are total profits?
d. What is the effect of an increase in fixed costs of $5000 on equilibrium price and output?
On the basis of the information regarding the risk involved in the two projects, you come up with the following probability distributions for the projects:
The forecasting staff for the Prizer Corporation has developed a model to predict sales of its air-cushioned ride snowmobiles. The model specifies that the S vary jointly with disposable personal income Y and the population between ages 15 and 40,..
Gomez runs a small pottery firm. He hires one helper at $12,000 per year, pays annual rent of $5000 for his shop, and spends $20,000 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth)..
Suppose the demand curves for the two market segments are: Out of town: Q0 = 600 - 10P Local: Q1 = 600 - 20P A. If the resort charges one price to all skiers, what is the profit-maximizing price Calculate how many lift tickets will be sold to each..
A friend was left $50,000 by his uncle. He has decided to put it into a saving account for the next year or so. He finds there are varying interest rates at savings institution: 4.375 % compounded annually, 4.25% compounded quarterly, and 4.125% co..
Given the following Demand and Supply functions answer questions a thru d. Qd=120-2P+5I Qs=-10+4P-3W where P=$3 is the price of the good. I=$100 per capital consumer income W= $50 wage rate a. Derive the demand and supply curves (qd and qs).
Clean Supreme is a corporation that produces and sells powdered laundry detergent in the U.S. The company has estimated the following regression equation for the demand of its Brand Z detergent:
Two firms currently produce the goods q1and q2separately. Their cost functions are C(q1) = 25 + q1, and C(q2) = 35 + 2q2. By merging, they can produce the two goods jointly with costs described by the cost function C(q1, q2) = 45 + q1+ q2.
You went on a trip to Tombstone, Arizona and stopped into a gift shop, where you began talking with the owner. You find out that she needs to apply for a small business loan and needs to calculate the net cash flow for the year 2015.
Externalities-analysis and policy design: Suppose that in a competitive market, demand is given by the equation P = 600 - Q, and supply is given by the equation P = 160 + Q, where P is price and Q is quantity of some good or service.
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 t..
For an asset that fits into the MACRS "all property not assigned to another class" designation, what is the book value at the end of year 7 for the asset Assume the asset has a 10-year life of use and that the cost basis for the asset is $10,000.
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