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A firm has a monopoly on a new type of gaming console. The market demand is given by P=307.4-0.003*Q and thus marginal revenue is MR=307.4-0.006*Q. The monopolist's marginal cost is MC=4.3+0.001*Q. Calculate the profit-maximizing production quantity?
The best answers eliminate the puzzle concisely. Explain the short-run effects of eliminating rent control on apartments. In a competitive industry, with competitive supplies of labor and capital goods which have only normal gains, which factor obtai..
Illustrate what whould be the appropriate elasticity to compute. Using the midpoint method, compute this elasticity.
There are two types of farming tractors on the market, the FT250 and the FT500. The only difference between the two is that the FT250 is more prone to accidents than the FT500. At these prices, 2,000 of each model are purchased each year. What is the..
A cubic total cost function is expressed as TC=a+bq+cq^2+dq^3 if a=0 b=400 c=-50 and d=5 then. What are MC (Marginal Cost) and ATC (Average Total Cost) respectively equal to? At what output levels are MC and ATC respectively minimized?
Which type of industries would make the most use of short-range forecasts? Which would make the most use of medium-range forecasts? Which would make the most use of long-range forecasts? Why?
Describe the shape of the average total cost function and also label the minimum point on the curve.
Illustrate what is the effect of the price increase on revenue at the YSU campus store. Calculate the price elasticity of demand for Bottom Feeder Tacos using the mid-point formula.
Describe one or more specific examples of how businesses you know are using one-to-one communication to build a stronger relationship with you. (Note: Often these are little things done to build rapport and loyalty
Carbon dioxide emissions have been linked to global warming. The following table lists some possible public policies aimed at reducing the amount of carbon dioxide in the air.
Elucidate the nature of competition in a marketplace which is characterized by a high barrier to entry and a significant product homogeneity.
You learned that Texas has a tax system that is generally “regressive” because it relies heavily on sales taxes rather than income taxes. What are the definitions of regressive, flat, and progressive when it comes to taxes? Why a sales tax is conside..
Decrease costs across the board. Find out elasticities of the products and increase the price on the inelastic shoes.
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