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One question that arose during the meeting was about how the firm's profitability in their toothpaste division would be impacted by the expansion. The Board asked you to assess the profit potential using marginal analysis.
It is assumed that the toothpaste market is perfectly competitive and the current price of a case of toothpaste is $42.00. CPI has estimated its marginal cost function to be as follows: MC=.006Q.
The Board would like to know how many cases of toothpaste should be produced in order to maximize profits.
What would happen if CPI decided to raise prices unilaterally in this toothpaste market?
What would happen to the profit maximizing level of output if the market price suddenly rose to $54 per case? Explain why the output level changes.
Could CPI benefit by advertising in this perfectly competitive market?
If CPI was somehow able to monopolize the market what would happen to the price of toothpaste, would it rise or fall? What would happen to the profits CPI makes via their toothpaste division?
If consumer incomes rise to $30,000, illustrate what will be the new equilibrium price and the new equilibrium quantity.
The vice-president for finance decided to invest $2,000,000 in a 2-month investment that pays 11.5% simple interest. how much interest will the college earn on the investment.
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Citrus Speculation and Forecasting, Inc., has been recruited by a private consortium of orange growers to predict what will happen to the price and output of oranges under the conditions below.
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Use the classical model and the quantity theory of money to predict how each of the following shocks would affect the real wage rate (W/P), the real interest rate (r), real aggregate income (Y), and the price of goods and services (P) in a closed ..
Suppose the following output and labor hours for Russia and Germany in producing Wheat and Cloths.
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A houseowners son has agreed to invest some money in materials for remodeling of his parents kitchen, if he can decorate kitchen and the cabinets in vinyl he likes.
What is demand elasticity in the $35 - $50 price range? Is demand elastic, inelastic, or of unitary elasticity Calculate the value and show all of your work. Be sure to use the midpoint equation to determine elasticity. Assume demand elasticity ..
Plot both together on a supply-demand graph. Calculate the equilibrium P and Q, and show them on your graph as well. Also calculate CS (consumer surplus) at the equilibrium.
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