Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Greta starts an internet-based grocery delivery service. His employees must perform one of three activities:
Administrative work: Exactly 2 workers are necessary to perform the administrative work for the business to operate. The administrative workers do not generate revenue.
Delivery: Each employee working as a driver can deliver up to 20 orders daily.
Assembling orders: Each employee can prepare and pack up to 100 orders daily.
Suppose that each worker can work in exactly one capacity (so she cannot split her time between delivery or packing).
Greta's short-run production function says how many orders can be completed by L employees. Describe Greta's short-run production function. (Hint: how many orders can she complete when she has 3 employees? How many orders can she complete when she has 10 employees?) What are her returns to scale when she changes employment from 5 to 10 workers?
Suppose there are two firms in a market who each simultaneously choose a quantity. Firm 1's quantity is q1, and firm 2's quantity is q2. Therefore the market quantity is Q = q1 + q2. The market demand curve is given by P = 60 - 4Q. Also, each ..
Are chocolate and textbooks complements or substitutes for Jen? b. Calculate the income elasticity for chocolate. Is chocolate a normal good? 2c. Assume we observe the following: Qt = 5; pc = 2; pt = 2.
Characterize each of the following statements as true or false, and explain your answer.
Explain how the Central Bank can set the nominal interest rate in the money market. In addition, explain how it can use expansionary monetary policy to boost GDP if the economy is in a recession.
A woman managing a photocopying establishment for $25,000 each year make a decision to open her own duplicating place. Her revenue during the first year of operation is $120,000, and her expenses are as follows:
Mention four key points from the reading assignments that were emphasized in the simulation. Find out how price elasticity of demand affects the decision making of the consumer and of the organization.
Discuss perfect competition and long-run equilibrium. Provide detailed descriptions, definitions and concrete examples of your findings. Additionally, how does the proliferation of global trade and competition contribute to markets moving more awa..
Find the firm's optimal quantity, price, and profit (1) by using the profit and marginal profit equations and (2) by setting MR equal to MC. Also provide a graph of MR and MC. b) Suppose instead that the firm can sell any and all of its output at ..
A local surf store estimates that their average consumers demand a year is P=3.5-0.5Q, and knows that the marginal cost of each rental is $0.5.
What is the main difference between the demand curves for the perfect competitor and the monopolist? Explain the difference between the firm's demand curve for each and then for the market for each.
what level of output should be produced in each market and what price will prevail in each market? What are total profits in this situation? How would your answer change it it only cost demanders $5 to mail books between the two markets? What would..
You expect to receive a payment of $104 one year from now. Your discount rate is 4 percent. What is the present value of the payment to be received. Suppose that the discount rate is 5 percent.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd