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You are the manager of a firm that manufactures front and rear windshields for the automobile industry. Due to economies of scale in the industry, entry by new firms is not profitable. DaimlerChrysler has asked your company and your only rival to simultaneously submit a price quote for supplying 100,000 front and rear windshields for its new Jeep Liberty. If both you and your rival submit a low price, each firm supplies 50,000 front and rear windshields and earns zero profit. If one firm submits a low price and the other firm submits a high price, the low-price firm supplies 100,000 front and rear windshields and earns a profit of $9 million and the high-price firm supplies no front and rear windshields and earns a loss of $1 million. If both firms quote a high price, each firm supplies 50,000 front and rear windshields and earns a $7 million profit. Determine your optimal pricing strategy if you and your rival believe the new Jeep is a "special edition" that will be sold for one year only. Would your answer differ if you and your rival were required to resubmit price quotes year after year and if, in any given year, there was a 50% chance that DaimlerChrysler would discontinue the Jeep Liberty? Explain.
Consider the demand and supply curves for rental apartments: Qd= 1000 - P, Qs=P - 100. Assume that the government imposes a price ceiling on rental apartments of 400. In this situation the deadweight loss is equal to
A local video store estimates their average customer's demand per year is Q = 20 - 4P, and knows the marginal cost of each rental is $1.00. How much should the store charge for an annual membership in order to extract consumer surplus.
A new truck can be purchase for $84,000. Its expected useful life is six years, at wich time market value will be zero. Annual receipts less expenses will approximatetely $18,000 per year over the six-year study period. Use the PW method and MARR ..
Suppose the government in this economy decides to increase government purchases by $250 billion. The increase in government purchases will lead to an income, generating an increase in consumption that increases income yet again, and so on.
Solve the problem for I (income). The impact on income of an increase in government spending equal to 100. Using the original data, compute the impact of a decrease in taxes equal to 100. Explain why the results are different.
The total number of movie projections, M, is the sum of the number paid for by each of the two persons: M = MS + ML. Spielberg and Lucas both have income of 70, and the price of both the private good and a movie projection is 1. They are limited, ..
At its current short-run level of production, a firm's average variable costs equal $30, and its average fixed costs equal $70. Its total costs at its current production level equal $34,000. a. What is the firm's current output level
A firm uses two variable inputs, labor, L, and raw materials, M, with typically shaped isoquants. It pays $20 per hour for L and $5 per unit for M. At the current mix of L and M, the marginal products of L and M are: MPL = 20 MPM = 4
the operation and maintatenance expenses 450 per year additionally , the hourly fuel expense for running the turbine is 7.5 dollar per hour and the turbine expected to operate 3000 hours eaach year . the cost of dismantling and disposing the turbi..
paid $200 for business cards, $1,000 for a listing in yellow pages, and $250 for an annual business license. She also leased a professional portrait camera and studio lighting equipment by signing an agreeement to pay a monthly lease of $1000 per ..
Select three macroeconomic indicators that you feel have greatest impact on operations or considering for Kohls. Discuss and describe why they are important to current or future situation of your organization.
The agency of Labor Statistics follows 5-steps to calculate Consumer Price Index. Determine three strengths and three weaknesses of the Consumer Price Index calculation.
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