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Your the manager for a college football team. Assume you own the stadium and the variable cost per attendant is $0. You’ve been told by your in-house economist that you should set the price of tickets at $50 to maximize profit. Your football coach is really pushing to sell out the game. If $50 is the profit maximizing price, will you sell out the game? Why or why not?. can you help me with this. can you explain whether or not i sell out the game and why
The Second Industrial Revolution (ca. 1865 – 1920) brought with it tremendous economic growth and intense social change. Explain what those new conditions were like and how they emerged in this period of intense industrialization, citing examples fro..
Cindy gains utility from consumption C and leisure L. The most leisure she can consume in any given week is 110 hours. Her utility function is U(C,L)=C*L. This functional form implies that Cindy's marginal rate of substitution is C/L. Cindy receives ..
q1. which types of inefficiency described in chapter 10 do you think is most economically significant in the country
Critique a human resource article which study Staffing (recruting and selecting employees, managing employee seperations, downsizing, and outplacement) The critique must contain the following: -A brief introduction of the article -A statement of the ..
Suppose the mayor is suggesting an increase in gas taxes that would affect the commute costs and thus bid rent curves for residents Pr=5.5-0.75x. Calculate the new size of the city.
In fact, an insurance agent explains that he is always true. Nevertheless, the engineer buys fire insurance. Explain why this is or is not a logical decision.
Consider a farmer who can either plant or market/consume his crop. Whatever amount he plants becomes a crop twice the size the following year. For example, if he plants seed from 2 ears of corn, he gets 4 ears of corn at harvest. Assume he starts off..
Imagine how managerial decisions may be easier or more difficult if there were no antitrust restrictions in the U.S. Provide an example to support your response.
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitutes one product for another? Use examples to illustrate.
A change in any of the following factors except shifts the aggregate demand curve.
Schultz Industries is considering the purchase of Arras Manufacturing. Arras is currently a supplier for Schultz, and the acquisition would allow Schultz to better control its material supply. The current cash flow from assets for Arras is $7.9 milli..
Measuring GDP The following table shows data on consumption, investment, exports, imports, and government expenditures for the United States in 2009, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the..
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