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A cell phone company is considering investing in additional cell phone towers. It estimates that if it builds K towers, its benefit in terms of increased profits will be: B(K)=500K-K^2 in millions. Assume each tower costs $20 million to build. Answer the following questions:
A. What is the total cost, C(K), of building K towers?
B. What is the optimal numbers of towers to build?
What is the income elasticity of demand for kitty litter when P(D)=30,P(C)=20, m=50? What is the cross-price elasticity of demand for kitty litter when P(D)=30,P(C)=20, m=50? Are kitty litter and cat food substitutes or complements?
If two people have cardinal utility functions, person1 is Utility = XY and person2 is Utility = (XY)^1/3 which bundle would they find to be best Bundle 1: Has an indifference curve of Y = 1/X
Many people advocate taxing "the rich" to alleviate the debt problem but the truth is that taxes will have to be increased on all income earners. What macroeconomic impacts would you expect to see if taxes are raised "across the board"?
In order to ingratiate himself with voters, the mayor of Gotham City decides to lower the price of taxi rides. Assume, for simplicity, that all taxi rides are the same distance and therefore cost the same. The accompanying table shows the demand a..
The Clap Chemical Company needs a large insulated stainless steel tank to expand its plant. Clap has located such a tank at a recently closed brewery. The brewery has offered to sell the tank for $15,000 delivered.
elizabeth M. suburbs makes $200 a week at her summer job and spends her entire weekly income on running shoes and designer jeans, because these are the only two items that provide utility to her.
A company's marketing dept. obtained information from 10 of the firm's outlets. The information consists of the qty. and price of the products sold at each outlet from the distribution center.
What is the optimal price of the textbook from the author's point of view and by how much would the demand for the textbook change if advertising were increased by 2%?
Firm 1 at point 0 and firm 2 at point 1. The consumers transportation cost are linear in the distance to the firms localisation (d1 and d2) and the consumers are uniformly distributed on the intervall (0,1) where x E (0,1) denotes the consumers p..
In order to have money available for replacing their family vehicle, a couple planned to have $220,000 available in 10 years by investing. If they plan to increase their savings by 10% each year, how much must they invest in year 1 if they expect ..
Determine when the exponents of a Cobb-Douglas production function sum to more than one, the function exhibits
find the diagonal and off-diagonal elements of b 2- find the transpose b' 3- show that the transpose of b' equal b that is (b')'=b
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