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Addis Music Company of D.C. enjoys an exclusive copyright for music written by KuKu, a legendary African Reggie group. Total revenue and cost for the group is as given below:
C=f(Q)=880+0.25Q+0.0025Q^2P=20.25-0.01Q
P (the second equation) is the inverse demand curve. it is also the price (thus = P(Q)C is total costQ is CDs produced and sold in units (demand)
A. Calculate the unit price if the ventor sold 200 CDs.
B. Calculate the demand curve for CD.
C. Calculate the fixed and variable costs.
D. Calculate the break even quantities (number of CDS).
E. Calculate the profit maximizing level of operation, the number of CDs the company will produce to maximize profit.
Derive the FOC and SOC conditions of profit maximization for this firm. Show that SOC is satisfied (impose necessary conditions). Which plant will have a greater increase in output? Please explain why.
Describe the market equilibrating process and compare the demand for food with demand for Starbuck's coffee. Include academic research to support your ideas.
The equilibrium price for physiotherapy visits is $30 and the quantity utilized is 150 visits as a result of the demand and supply conditions in this diagram.
EconS 323 Problem Set 7'4, Questions on Hedonic Wage Theory and Employee Benefits, Risk and earnings, Teacher Quality and Compensating Wage Differentials
You're a manager at the Chevrolet division of General Motors. If your marketing department estimates that the semiannual demand for the Chevy Tahoe is Q = 100,000 - 1.25P
The small town of Middling experiences a sudden doubling of the birth rate. After three years, the birth rate returns to normal.
Discuss how the rights of those in the public sector differ from those in the private sector, and how it affects overall public sector productivity.
Discuss the main factors (supply and demand) affecting the current price of gasoline. Include at least two supply and two demand.
Define the term Consumer surplus, Gien good and Income elasticity of demand using graph and equation.
Two partners who owns IT Business Solutions, a company supplying specialist software, operate out of an office in Fourways, Johannesburg but have discovered a vacant office building close to Sandton City.
Future economic glowth
Consider the relationship given by QCars = 100 + 4xPCars - 2xPSteel - 0.2xPWorkers, where QCars is the quantity of cars (in thousands), PCars is the price of cars and PWorkers is the wage earned by autoworkers.
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