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Recently, the owner of a Trader Joe’s franchise decided to change how she compensated her top manager. Last year, she paid him a fixed salary of $75,000 and her store made $130,000 in profits (not counting payment to her top manager). She suspected the store could do much better and feared the fixed salary was causing her top manager to shirk on the job. Therefore, this year she decided to offer him a fixed salary of $34,000 plus 15% of the store’s profits. Since the change, the store is performing much better, and she forecasts profits this year to be $290,000 (again, not counting the payment to her top manager). Assuming the change in compensation is the reason for the increased profits, and that the forecast is accurate, how much more money will the owner make (net of payment to her top manager) because of this change?
explain how and why a monopolist would try to price-discriminate: Providing air travel for business people and tourists; A fast-food restaurant that serves business people and retired people
A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal co..
Identify dilemmas that threaten the future integrity of the U.S. healthcare system. Discuss whether or not there is a need for healthcare reform
Occupational licensing can accomplish which of the following?
botco, inc. is constructing remote-controlled cars to sell to hobbyists. After doing some analysis, botco's chief economist reported that, at the current level of output per month, the marginal benefit for making remote-controlled cars exceeds the ma..
Your friend's monthly demand for minutes of calling is given by the equation 50, where p is the price of a minute.
What is the equilibrium Price and Quantity in the market? Now suppose the government imposes a special tax on these computers. Describe what would happen in this market in terms of the supply and demand curve.
Suppose that a 12 percent rise in the price of pancakes decreases the quantity of pancakes demanded by 22 percent and increases the quantity of waffles demanded by 14 percent. Price elasticity of demand for pancakes. Cross elasticity of demand for wa..
What is represented in the price of a good or service?
How could union members’ current annual incomes decline on net even if a long-lived strike induces a firm’s management to increase the hourly wage rate? Sometimes union memberships coordinate work stoppages when all workers call in sick. From an econ..
consider the production functionq 4k 34 l 14a. find the gradient of qb. find the hessian of qc. denote the initial
q1 if you are the chief economist of a country experiencing full employment and high inflation levels over the past
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