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1. 10 consumers, ranked by their value for a network product v = 1...10, are deciding whether to connect to the network. If there are n people on the network, including oneself, then a consumer's willingness to pay equals n x v.
a. What is the highest price at which 4 people connect to the network?
(Hint: the person with v = 9 joins if the price is no higher than 18, since that would mean 2 people in the network: v=9 & v=10.)
b. What is the highest price at which 9 people connect to the network?
2. The demand function for the Msgr social network is related to perceived market share s and actual market share n by the equation:
p = 512s(1-n). Calculate the highest equilibrium price at which Msgr could sustain a market share of 75%.
(Hint: in equilibrium, perceived & actual market share will be the same.)
Illustrate what does this imply about the effectiveness of monetary and fiscal policy to reduce the unemployment rate.
What are some of the other key roles in the Planning Process.
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In order to host the Winter Olympic Games, the city of Vancouver incurred a large debt, which will have to be repaid over time. Reflecting on this fact, one Vancouver resident complained, “The average guy is going to see his taxes increase” [Austen, ..
Nonmarket work includes time spent
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Consider the market for laptop computers. The demand for laptops is Q = 1800 – 3P. Suppose the supply of laptops is given by Q = –200 +2P. What is the equilibrium price of laptops? What is the equilibrium quantity of laptops? What is the price elasti..
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A city is spending $20 million on a new sewage system. The expected life of the system is 40 years, and it will have no market value at the end of it life. Operating and maintenance expenses for the system are projected to average $0.6 million per ye..
Illustrate what is the equilibrium cost of a car stereo also illustrate what is the equilibrium quantity of car stereos per day.
Suppose which in the 1990s, the average retail price of a roll of Kodak film was $6.95 also which Kodak's marginal cost was $3.475 per roll.
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