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A. Suppose the demand function for cable TV service is given by QCTV = 15 - 0.25xPCTV + 0.0005xM + 0.3xPSTV, QCTV is the quantity of cable TV demanded (thousands of households), PCTV is the price of cable TV, M is income and PSTV is the price of satellite TV service. Suppose consumers' income is $50,000 and the price of satellite TV service is $90. At what price would the demand for cable TV services be 55,000 households? A. $67 B. $48C. $12D. There is not enough information to answer the question
B. Consider the relationship given by QCars = 100 + 4xPCars - 2xPSteel - .2xPWorkers, where is the quantity of cars (in thousands), is the price of cars and P is the wage earned by autoworkers. If the price of steel is $10 per unit and the price of workers (the wage) is $20, what is the supply curve for cars? A. QCars = 140 + 4xPCars B. QCars = 100 + 4xPCars - 2xPSteel - .2xPWorkers C. QCars = 100 + 4xPCars D. QCars = 60 + 4xPCars
Few states in the U.S. permit citizens to openly carry handguns. People can save themselves in the case of robberies or harm by using these guns.
When the CR = 80%, is the market efficient when the market behavior follows the price leadership model?
Determine the long-run marginal cost function for electricity generation and determine the short-run average variable cost and marginal cost at the output level in Part (d)
Can the Farm produce 500 bushles of corn and 500 pounds of beef per year? Can the farm produce 800 bushels of corn and 1200 pounds of beef a year? What is the opportunity cost of the farm increasing beef production from 900 pounds to 1200 pounds per ..
Cockatoos are drugged and smuggled in suitcases to the United States. Half of the smuggled cockatoos die in transit. Each smuggled cockatoo has a 10% probability of being discovered, in which case the smuggler is fined.
Compute the marginal product of labor when 9 units of labor are utilized. Assume the firm can hire labor at a wage of $10/hr and output can be sold at a price of $100 per unit. Determine the profit maximizing levels of labor and output.
Suppose that the rate of depreciation as well as the rate of saving are each .10. Also assume that there is no technological nor population growth.
Compute the sizes of the consumer and the producer surpluses at the equilibrium price and quantity derived in (1).
A change in real money supply can result either from a change in nominal money supply through Federal Reserve policy or from a change in the price level.
Guaranteeing a price for new capital to the issuing firm.Selling stock over the Internet.Issuing stock and using the proceeds to purchase bonds.
For each of points 'a', 'b', 'd' and 'e' on the graph, calculate the price elasticity of demand (PED) and state the nature of elasticity (e.g. perfectly inelastic) at that point.
Calculate MC and then use the same equation to find out the new price. ¦e¦is the absolute value of demand elasticity and determine the breakeven output and total sales revenues and draw the cost-volume-profit chart.
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