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Your friend invests and patents a portable ice cream carrier (PCC) which you plan to manufacture as well. You determine the demand function for the product is
Q = 120 - 3P while the cost is TC = 2Q
a. what are your profit maximizing price and quantity for this product? what profits will you make?
Suppose your market research leads you to conclude that there are two distinct groups of consumers interested in the PCC, restaurants and homes. You determine that each has a different demand curve as follows
Qrest = 70 - 2P
Qhome = 50 - P
You can easily distinguish between the two by the fact that restaurants have licenses to sell food while homes do not. And because the PCC is adjusted to the average quantity of ice cream being carried by that particular consumer (this is done at the time of the sale) resale is no possible. You decide that this is a great opportunity to engage in 3rd degree price discrimination (charge each group a different price)
b. what price will you charge resaurants and what price will you charge homes? how many PCC's will you sell to each?
Consider a monopoly where the market demand is given by P = 170-2.5Q. The monopoly is facing the following costs: MC = 20, and TC = 20Q + 1,250. a) What is the marginal revenue of the monopolist What is the condition for profit maximization in mono..
Suppose that the two firms compete in output and set their output levels simultaneously. Given that firm 1's reaction curve is Q1 = 150 - 2Q2 and firm 2's reaction curve is Q2 = 150 - 2Q1, what are the two firms' output levels in equilibrium
Prepare a two- to three-page analysis by answering the questions below. Be sure to cite your references using APA format. Assume that the Bank of Ecoville has the following balance sheet and the Fed has a 10% reserve requirement in place: BALANCE SHE..
Suppose that the CAPM is a good model of risk in the stock market. Suppose also that the average excess return on stocks is 10% and that the risk free interest rate is 1%. What would you expect to be the return to stocks with each of the following..
Suppose that a country has no public debt in year 1 but experiences a budget deficit of $40 billion in year 2, a budget deficit of $20 billion in year 3, a budget surplus of $10 billion in year 3, and a budget deficit of $2 billion in year 4.What ..
Explain how you could make a profit from this situation. What would be your profit per bushel of rice If other people exploit the same opportunity, what would happen to the price of rice in Japan and the price of rice of rice in the United States..
Suppose that the demand curve for tickets to see a football team is given by Q = 100,000 - 100P and marginal cost is zero. A. How many tickets would the team be able to sell (ignoring capacity constraints) if it behaved competitively and set p = MC
A frim determines that X units of its product can be sold daily at P dollars per units per day is C(x) =120-1/2p and where the cost of producing X units per day is C(X)=10+30x A) Assuming that the production capacity is 40 units per day, determine..
Suppose that demand for cartel's oil is given by P=50-.1Q where P is the price per barrel and Q is the quantity produced in barrels. If the cartel's aggregate marginal cost is given by MC= 10+0.2Q what is the cartel's profit maximizing price of oi..
A firm has $1,100,000 in sales, a Lerner index of 0.62, and a marginal cost of $55, and competes against 1000 other firms in its relevant market. Instruction: Round your answers to 2 decimal places.
In order to produce the wheels themselves, Pramble would have to add to existing facilities at a cost of $800,000. It estimates that its unit cost of production would be $3.50. At the current time, the company sells 10,000 carriages annually.
Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:
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