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Price discrimination: Shooting Star Books is a small publishing company that specializes in science fiction books. Assume that the marginal cost and average variable cost of printing books is $0 per book, and there is not fixed cost. The annual demand is Q = 1200-50P. Marginal revenue is MR = 24-0.04Q. Find the profit-maximizing P, Q, and profit. (P=12 Q=600 profit=7200)
What would an increase in government purchases do to aggregate demand? When would an increase in government purchases be an appropriate countercyclical fiscal policy? If the current budget shows a deficit, what would an increase in taxes do to it?
Suppose that the insurance company would set the premium by imposing a zero profit restriction. That is, the premium would be set to be (1+L)EB, where L is the loading factor and EB is the expected benefit. Let us assume that L = 20%. Calculate the p..
An increase in the price of a product (P), along with an increase in the price of an input factor (PI), is certain to lead to an increase in quantity supplied (QS). An increase in the dollar amount of fixed costs increases marginal cost.
Suppose 2 television stations are offered 2 old Hollywood films: Casablanca and Son of Godzilla. The stations' willingness-to-pay for each is as follows: Station A WTP: Casablanca $8,000 Godzilla $2,500 Station B WTP: Casablanca $7,000 Godzilla $3000..
Sort the list below according to whether or not an item is an assumption made under perfect competition (aka pure competition or competitive industry). Assumed in perfect competition. Not assumed in perfect competition.
Discuss the advantages and disadvantages of doing business as a Sole Proprietorship, Partnership, Corporation and Limited Liability Company.
Elucidate how much money should the government spend to eliminate this gap. Elucidate how much money should the government give in tax cut to eliminate this gap.
Suppose that you own a 25 year old movie theater in Micropolis. It has 6 screens and a concession stand. Across town there is a 7 year old movie theater with 4 IMAX screens and 20 more regular screens. Now that you have looked at these characteristi..
Individual Retirement Accounts (IRAs) allow people to shelter some of their income from taxation. Suppose the maximum annual contribution to such accounts is $5,000 per person. Now suppose there is a decrease in the maximum contribution, from $5,000 ..
The Highland Commodities Company is a typical firm in a perfectly competitive market has a cost structure described by the equation: C = 25 − 4QF + Q2F where QF is measured in thousands of units. Using the profit-maximizing condition, P = MC, write a..
students are required to write an essay on a significant recent economic event or activity.discuss an economic activity
Suppose that most Baltimore Orioles fans prefer Sunday afternoon baseball games (regardless of opponent) to all other games. Describe two pricing strategies that the Orioles could use to increase profits based on this difference in demand.
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