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You are the manager of BlackSpot Computers, which competes directlyn with Condensed COmputers to sell high-powered computers to businesses. From the two businesses perspectives, the two products are indistinguishable. The large investment required to build production facilities prohibits other firms from entering this market, and existing firms operate under the assumption that the rival will hold output constant. The inverse market demand for computers is P=5,100-.5Q and both firms produce at a marginal cost of $750 per computer. Currently, BlackSpot earns revenues of $6.38 million and profits (net of investment, R&D, and other fixed costs) of $1 million. The engineering department at BlackSpot has been stedily working on developing an assembly method that would dramatically reduce the marginal cost of producing these high-powered computers and has found a process that allows it to manufacture each computer at a marginal cost of $500. How will this technological advance impact your production and pricing plans? How will it impact BlackSpot's bottom line?
1. What is the difference between gross domestic product (GDP) and gross national product (GNP)? 2. Based on the table, what calculations must you make to determine GNP from GDP? 3. What is national income (NI)? 4. Which was higher in this year, GNP ..
Explain why are there significant disparities in the cost of living throughout the US.
What is opportunity cost? Explain with the help of an example, why assumption of constant opportunity cost is very unrealistic? Explain law of demand with the help of a demand schedule and demand curve.
Big interest rates are commonly expected to strengthen a nation's currency because they can encourage foreign investment in securities in that nation,
You are given the following information about the personal computer (PC) industry: Find the NRP and the ERP. Show all calculations and formulas.
Let commodity 1st be bottled water, measured in gallons. Commodity 2nd denotes plain tap water, also measured in gallons.
Assume the U.S. government determines that cigarette smoking creates social costs not reflected in the current price of cigarettes in the market
Ryan Witz sells vacuum cleaners door-to-door. After showing Mrs. Davis several models and demonstrations, Ryan can tell she is hesitant but interested. Which trial closing is Ryan likely to use to ensure a sale
Examine the tools of fiscal policy also explain how they are used to reduce inflation or eliminate a recession.
Suppose there are 100 firms in a perfectly competitive industry. Each firm has a U shaped long-run average cost curve that reaches a minimum of $10 at an output level of 8 units. Marginal costs are given by MC(q)=q+2 and market demand is given by Q..
Find an article from the media (internet, newspapers, magazines, etc.) on a current event that addresses an economic concept (e.g., consumption, saving, investment, real GDP, marginal propensity to consume, income multiplier, etc.). Write a one t..
University of Florida engineering students are planning operating a mobile car clinic in Gainesville, Florida, during their summer break. This is an option to summer employment stacking plastic cups
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