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You have two types of buyers for your product. The first type values your product at $10; the second values it at $6. Forty percent of buyers are of the first type ($10 value); 60% are of the second type ($6 value). What price maximizes your expected profit?
a. $10
b. $6
c. $7.60
d. $8
Suppose the demand curve for a monopolist is Qd=500-P, and the marginal revenue function is MR=500-2Q. The monopolist has a constant marginal and average total cost of $50 per unit. a) Find the monopolist's profit-maximizing output and price.
When Iraq invaded Kuwait in 1990, the market price of crude petroleum jumped from $21.54 per barrel to $30.50 per barrel - an increase of almost 42 percent. Your boss is puzzled, because the price increase actually occurred
Assume that two companies (C and D) are duopolists that produce identical products. Demand for the products is given by the following linear demand function: P = 600 Â- Qc- Qd Where Qc and Qd are the quantities sold by the respective firms and P i..
Abby consumes only apples. In year 1, red apples cost $1 each, green apples cost $2 each, and Abby buys 5 red apples and 2 green apples. In year 2, red apples cost $2, green apples cost $1, and Abby buys 1 red apple and 7 green apples. Compute a ..
A firm produces output according toa production function Q = F(K,L) = min {2K,4L}. a. How much output is produced when K =2 and L = 3 b. If the wage rate is $30 per hour and the rental rate on capital is $10 per hour, what is the cost-minimizing in..
A woman made 10 annual end-of-year purchases of $1000 worth of common stock. The stock paid no dividends. Then for 4 years she held the stock. At the end of the 4 years she sold all the stock for $28,000.
What is the dependent variable? How much you spend for a vacation in U.S dollars. Potentially, what are the independent variables?
If 12 percent of thoes solar energy resources could be harnessed , how long would it take for an average 50 square meter solar array to fill up a car with the energu equivalent of 15 gallon thank of fasoline
A consumer must divide $250 between the consumption of product X and product Y. The relevant market prices are Px $5 and Py $10. Show how the consumer's opportunity set changes when the price of good X increases to $10.
Desmond is attending university as a full time student this year. Desmond therefore had to give up his full time job in which he earned $25,000 per year. He also had to move away from his parents' home where he was paying $5,000 per year
-was the paper well written -was the paper original - was the paper well motivated -did the paper make clear what it was about, what question it was asking, how it was going to answer it.
A manager can use either way S or B to prepare packages of chiken nuggetes, The firms production is givin as Q= B+S. A- Graph the isoquant corresponding to 4 unites of output. B- What is the marginal product of capital and labor.
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