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A seller produces output with a constant marginal cost MC = 2. Suppose there is one group of consumers with the demand curve p1 = 16 q1 and another group with the demand curve p2 =100.5q2
(a) If the seller can price discriminate between the two markets, what prices would she charge the different groups?
(b) If the seller cannot discriminate, but must charge the same price p1 = p2 = p to each group, what will be her profit-maximizing price?
(c) Which, if any, consumer group benefits from price discrimination?
If Wachovia bank receives a $10,000 deposit, and the required reserve ratio is 0.10 (= 10%), how much can the bank loan out? Assume that Wachovia keeps zero excess reserves and only keeps the required minimum reserves.
From the information in the table, calculate marginal and average products. Graph the three functions (put total product on one graph and marginal and average products on another). For what range of output does this function have diminishing marginal..
Find the breakeven point for the PRODUCTION RUN Find the breakeven point for the WEEK What is the total profit or loss for the company if it runs at 50% capacity for the 10 weeks, with a total capacity of 1000 widgets/week
The following table contains information about the revenues and costs for Barry's Baseball Manufacturing. All data are per hour. Complete the first group of columns which correspond to Barry's production if P=$3. (TR=total revenue, TC=total cost, ..
To simplify the computations, suppose the cost of production is zero for both products. You have estimated that there are three types of customers, I, II, and III, who buy the products of the firm. There are 2,000 customers of each type, and they ..
Suppose that the Fisher hypothesis holds for an economythat has an expected real interest rate of 2%. For each of the expected inflation rates of 0, 2, 4, 6 and 8 percent, calculate the nominal interest rate and the after-tax expected real interst..
Seven years ago a vertical drill was purchased for $10,000. Drill had 12 years of expected life and zero estimated value at the end of that period. The current market value of the drill is $1,000. The new drill's total investment cost would be $12..
An economic bad is something you don't want to consume, i.e. less bad is better. Define an economic bad mathematically and name one economic bad in reality. Suppose you had to consume a certain amount of a given economic bad but could pay to get r..
Illustrate your answer by assuming that with advertising, a firm's demand curve has price elasticity of -1.5 and without advertising, it is -2. If MC is $10, what is the difference in the profit-maximizing price
To quell outrage over tuition increases, the collage places $55 limit on the price of textbooks. How many textbooks will be sold now C. while the price limit is still in effect, automated publishing increases the efficiency of textbook production.
A sum of $25,000 is deposited into a savings account that pays 8% interest compounded semiannually. Equal annual withdrawals are to be made from the account, beginning 1 year from now and continuing forever.
Is there either a recessionary output gap (negative GDP gap) or an inflationary output gap (positive GDP gap) at the equilibrium interest rate and, if either, what is the amount There is a recessionary output OR gap inflationary output gap of $.
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