What is the range of possible prices

Assignment Help Business Economics
Reference no: EM133083101

Suppose we are in a mining boom. BHP is also negotiating with suppliers of machinery, in order to build and equip mines. They estimate that every excavator they can source will mean they can earn an extra $2m in profits, up to 30 excavators. Caterpillar can produce up to 20 excavators at a marginal cost of $500k each, and Komatsu can produce up to 20 excavators at marginal cost of $800k each. How many excavators do they source from each, and what is the range of possible prices?

Reference no: EM133083101

Questions Cloud

732A55 Neural Networks and Learning Systems Assignment : 732A55 Neural Networks and Learning Systems Assignment Help and Solution - Describe briefly the two steps that are iterated in the k-means clustering algorithm
Literature regarding the benefits of free trade : What is the current knowledge in the literature regarding the benefits of free trade?
What is so important about being formally recognized : Beyond simply being a full member of the UN, what would formal statehood give Palestine that it does not have with its current status? What is so important abou
Why the government would need to understand the multipier : Why the government would need to understand the multipier.
What is the range of possible prices : Suppose we are in a mining boom. BHP is also negotiating with suppliers of machinery, in order to build and equip mines. They estimate that every excavator they
Sustainable development goal of the united nation : In the Sustainable Development Goal of the United Nation I am assigned in SDG # 8 Decent Work and Economic Growth
Achievement of workgroup objectives : How can you allocate resources to support the achievement of workgroup objectives?
Percentage change of cholera deaths : Shows population in London and spread of disease in London.
Identify the determinant of demand or supply : 1. identify the determinant of demand or supply that has changed (something like the # of firms has decreased).

Reviews

Write a Review

Business Economics Questions & Answers

  Physical capital for economic growth of different

What is the implication of the diminishing returns to physical capital for economic growth of different countries over time?

  Go to the bureau of economic analysis

Can you make a decision of what part of the business cycle the U.S. economy is currently in? Why? What factors lead you to this conclusion?

  Violation of the independence assumption

1) Suppose annual monthly murders in Medellin follows a truncated Poisson distribution with a mean of 128 murders per month with a standard deviation of 18. Wha

  Come to you inquiring about retirement

Your client, Tom, has come to you inquiring about retirement. He wants to know how much he needs to be saving at the end of each month to meet his goal

  Consider the law of demand-the law of supply

Consider the Law of Demand, the Law of Supply, and the Price Elasticity of Demand. Explain how a solid understanding of these, when combined, can help a business improve its performance (e.g. increase sales revenue).

  Explain how they fit into economics

Select two subject and explain how they fit into economics- what do the subject have in common? How does it impact how you think about economics? What can you learn from it? and how can you apply it?

  What is the agents bayesian posterior condition

What is the agent's Bayesian posterior condition and Show that the agent views her friend as a Blackwell experiment. (ii) What is the agent's Bayesian posterior

  Represent a socially optimal position regarding price

What is the MC = Mr rule and profit maximization and does this rule represent a socially optimal position regarding price and quantity of goods and services?

  Firm has decreasing returns

In the short-run, if a firm has decreasing returns, does it have increasing, constant, or decreasing marginal cost? Explain. What about if it has constant returns? Increasing returns? Explain.

  Average ticket prices have been on a steady decline

Airline ticket prices seem to be impossible to predict or explain. Yet, in the last year, average ticket prices have been on a steady decline.

  The p-value for hypothesis test

An important decision places Christmas holiday celebrators: To buy real or artificial trees? A market research firm reported that 62% of individuals polled

  About the trade balance is called

Suppose South Korea imports $4 billion in goods and services, and exports $2.5 billion in goods and services. South Korea’s trade balance is ____________. This trade balance is called a ____________.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd