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A company is considering building a bridge across a river. The bridge would cost $3 million to build and nothing to maintain. The anticipated demand over the lifetime of the bridge is x = 800 - 100p, where x is the number of crossings (in thousands) given the price per crossing p.
a. If the company builds the bridge, what will be the profit-maximizing price?
b. Will that price lead to the ancient number of crossings? Why or why not?
c. What will be the company's profit or loss? Should it build the bridge?
d. If the government were to build the bridge, what price should it charge?
e. Should the government build the bridge? Why or why not?
Consider a person with an initial wealth level of 100 who faces a change to win 20 with probability 1/2 and to lose 20 with probability 1/2. A. What is the expected value of the gamble Is this gamble fair or better than fair
sales 1990 116 1991 105 1992 29 1993 59 1994 1081995
A company desires to estimate the cost of building a 600-MW fossil-fuel plant for the assembly of its new long-distance aircraft. It is known that a 200-MW plan cost $100 million 20 years ago when the approximate cost index was 400, and the cost i..
Relative to your reservation wage at the time you accept each job, which job pays more: your first one or the one you expect to have in 10 years?
Suppose that the nominal rate of interest is 4 percent and the inflation premium is 2 percent. What is the real interest rate Alternatively, assume that the real interest rate is 1 percent and the nominal interest rate is 6 percent.
Given your answer to part (a), why is there unemployment in the economy? (What would happen to real wages if the unemployment rate were equal to zero?)
Joe has never trusted banks and always kept his money in cash. Joe pulls out his money jar, discovers that it has $20,000 in it, and decides it is unsafe to keep that much cash. Joe stops at the Local National Bank the following day, opens a check..
Beasley World Industries purchases a new computing center for $100 million. They estimate a life of 5 years and a salvage value of $20 million. Beasley World Industries is allowed by the IRS to use Sum of Year's Digits depreciation. They also e..
In the late 2010, you purchased the common stock of a company that has reported significant earnings increases in nearly every quarter since your purchase. The price of the stock increased from $12 a share at the time of the purchase to a current ..
Modify the model presented in Section 14.4 such that followers can now use the innovation of the technological leader and immediately leapfrog the leader, but in this case they have to pay a license fee of ζ to the leader.
Show that they behave as they would in a perfect-foresight model when anticipated and as they would in the standard AS-AD model when unanticipated.
Determine the most expensive and least expensive item.
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