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The market for Panadol was initially in equilibrium. The demand and supply equations for the market of Panadol were:Qd = 1000 - 200PQs = 100 + 400P
After few years, cost of production of Panadol increased due to increase in price of paracetamol (one of the main ingredient used in theproduction of Panadol). Due to this increase people started using Disprine instead of Panadol. After some time once again rapid increasein the prices of Panadaol was recorded. This time increase in prices was attributed to increasing demand of the tablet due to dengue fever. This trend added to the miseries of dengue patients. To better cope the situation, measures should be taken to decrease the price of Panadol so that dengue affected poor patients could afford it.
A. Find initial equilibrium price and quantity in the market of Panadol.B. How would the shift of customers to Disprine have affected the market for Panadol? Support your answer with diagram.C. How would the increase in cost of production have affected the market for Panadol? Illustrate graphically.D. How can the price of Panadol be controlled?
Demand P (q)=100-2q Total Costs C(q)=10+20q . Calculate marginal cost for a firm in this industry. The marginal cost is graphed below, what is special or interesting about this marginal cost function. Verify the monopolist equilibrium is (Q=20,P=6..
At 47 units of labor, a firm finds that average product of labor equals 39.6 and marginal product of labor equals 32.9. We can conclude that the average product curve at 47 units of labor is: A. vertical. B. horizontal.
The Committee will closely monitor incoming information on economic and financial developments in coming months. If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency mortgage-back..
A monopolist's demand curve is described by Q = 50 - 0.5 P The firm's cost function is TC = 10 + 2 Q a) Find the profit-maximizing quantity and price. b) If the industry is regulated in a way that requires it to set P = AC
The subway fare in your town has just been increased from a current level of 50 cents to $1.00 per ride. As a result the transit authority notes a decline in ridership of 30 percent. a) compute the price elasticity of demand for the subway rides.
Historical records show that 70 structures with 800 square feet of floor space and 8 foot ceilings were produced in 1999.Then the materials cost for each structure was $25,000 and the cost capacity factor is 0.65. Cost index values for 1999 and 20..
Microsoft sells three different programs in their office suite: Word, Excel and PowerPoint. Each has a marginal cost of $15. There are three types of con- sumers, writers, accountants and professor, who have the following values for the three diff..
1. Use these combinations for parts a and b: COMBINATION BASKETS POUNDS OF FOOD PREFERENCE A 1 1 9 B 1 2 6 C 1 3 3 D 2 1 8 E 2 2 5 F 2 3 2 G 3 1 7 H 3 2 4 I 3 3 1 a. If more is preferred to less, which combinations are clearly preferred to other co..
The recent average starting salary for new college graduates in Economics is $47500. Assume salaries are normally distributed with a standard deviation of $4,500. a)What is the probabilty of a new graduate receiving a salary between $45,000 and $50..
Use the data above to graph the aggregate demand and aggregate supply curves. What is the equilibrium price level and the equilibrium level of real output in this hypothetical economy Is the equilibrium real output also necessarily the full-employ..
a) Use exponential smoothing with a smoothing constant of .6 to produce forecasts from the data. Use 2500 as your forecast of demand for week 2. b) Use exponential smoothing with a smoothing constant of .3 to produce forecasts from the data. Use ..
Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 123034.4703 23311.13897 5.277926165 0.000358709 71094.01589 174974.9248 71094.01589 174974.9248 y 0.238078372 0.017797354 13.37717818 1.04516E-07 0.19842..
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