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Suppose, in Example 7, it costs the BBC realty company, on the average, $800 each month to maintain each vacant apartment. What monthly rent should they charge if their profit is to be maximized?
Example 7
BBC Rentals Inc. owns a large apartment complex containing 400 identical apartments. If the monthly rent for each apartment is $800 all the apartments are rented. However, for each $60 monthly increase in rent 3 apartments become vacant. Find an expression which may be used to represent their monthly income and determine the monthly rent to be charged to maximize their income
Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of real GDP per capita? (Instructions: Round your answer to two decimal places.) The growth rate of the economy's real GDP per capita = %
Suppose the price of Labor is $50 a day and the price of capital is $100 per day. Draw the iso-cost curve if the firm chooses to spend $10,000 a day. Add an isoquant tangent to the iso-cost at 120 units of labor.
Find the new demand equation. How does this change effect the point of market equilibrium?
You learn that the demand curve facing a monopolist can be written as P = 100 - 5Q, and the monopolist's marginal costs are constant at MC = 60. There are no fixed costs. Write down the equation of the marginal revenue curve for this monopolist.
Evaluate the overall explanatory power of the regression model. Use a 0.05 level of significance. State all your hypotheses and explain your results. Do not use rules of thumb. calculate the F statistic to answer this question.
1. the three fundamental economic questions of what how and for whoma-exist because of scarcity.b-are much more serious
What is the relationship between the interest rate and the exchange rate? What is the relationship between the exchange rate and net exports?
Suppose that investment demand increases by $100. Assume that households have a marginal propensity to consume of 80 percent. Compute the first three rounds of multiplier effects as follows: a) What are the first cycle changes in spending? Total cu..
"suppose you could buy a three year bond for $1078.73 that had a face value of $1000 and paid a coupon rate of 10%. What rate of return would you earn if you bought this bond
Suppose that 1984 the total output in a single good economy was 7000 buckets of chicken. Also suppose that in 1984 each bucket of chicken was priced at $10. Finally, assume that in 2004 the price per bucket of chicken was $16 and that 22,000 bucke..
A local bank advertised the following information: interest 6.89% - effective annual yield 7.128% . no mention was made of the interest period on the advertisement. Can you figure out the compounding scheme used by the bank
Estimate what would happen to the market price as a result of the supply of both the incumbent firm and the new entrant. Approximately how much profit would each firm earn?
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