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You are the project executive of a monopolistically competitive firm. The present demand curve is P=100- 4 Q. Your total cost equation is C(Q)=50+8.5Q^2 , and MC = 17Q.
a. What level of output should you set to maximize profits?
b. What price would you charge?
c. What will happen in your market in the long run? Explain.
There is currently 20 identical firms in a perfectly competitive market. Each firm has a cost function of the form: SC(q)=10q^2+200q+7000. The market demand is P= -4QD+3000. Explain why this is not a long run competitive equilibrium
What is the compound amount factor of single payment? (Use graphs and equations) If you have $2,000 now and invested it at 10% interest compound annually, how much would it be worth in eight years?
For several months before your vacation trip to germany,you fiind out that the exchange rate for the peso has increased relative to the euro. are you pleased or saddened explain.
Why you think that Microsoft's current share of sales in the personal computer operating systems market is (or is not) large enough for Microsoft to set prices for operating system software as a monopolist?
The truck's market value is expected to decrease by $2,500 each year it is in service. If the company plans to keep the truck for only two years, what is the annual worth of this investment? The MARR=18% per year.
Society ignored or even criticized the contributions of marketing until the beginning of the 20th century. At that time, economies once marked by a scarcity of goods began to enjoy an abundance of goods. Marketing skills were needed to solve the dist..
An industry has 1000 competitive firms, each producing 50 tons of output. At the current market price of $5, half of the firms have a short-run supply curve with a slope (change in quantity/change in price) of 1; the other half each have a short-run ..
A mechanical engineer must recommend an A/C system to a commercial building owner. The owner intends to own the building for at least 10 years. Using a rate of return of 9%, determine the present worth index of the incremental investment up to the ch..
George and Ellen operate a business and make a profit. Is this good or bad? Would it have been better if they had made a loss? Explain. How do people earn income? If you purse a career and become incredibly rich, have you done so at the expense of ot..
If these are the only two firms supplying gadgets, elucidate the elasticity of supply in the market for gadgets.
In 2016, economists forecast the U.S. MPS will be 0.15 and the MPM will be 0.10. Estimate the maximum overall total effect on national income of the following two changes in fiscal policy: A decrease in govt spending of $100 billion and a decrease in..
A monopoly faces a demand curve (in $) for its branded product described by: Fixed costs are equal to $10. There is no other cost information. What is the profit maximising price and quantity produced?
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