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You live in a small town with only one grocery store. The demand curve for food in your town is given by -1/5Q. the grocery store has a total curve given by TC = 50 + 1.25Q
A) What is the profit maximizing price and quantity of food if the firm charges the same price to everyone? How much profit will they earn?
B) Graph this situation including profits
C) How much dead weight loss is there?
D) How much consumer surplus is there?
E) How much producer surplus is there?
Currently, at a price of $1 each, 100 popcycles are sold per day in the perpetually hot town of Rostin. Consider the elastictiy of supply. In the short run, a price increase from $1 to $2 is unit-elastic (Es==1.0). How many popcycles will be sold eac..
If the market price is $10, what is the firm's profit maximizing level of output? Explain. What are the firm's profits at the profit-maximizing output level? Explain.
So explain how popsicles will be sold every day in the short run if the price rises to $2 each? In the long run, if the price rises to $2 each.
In 2001, the U.S. government mailed rebate checks in the amount of $300 or $600 to many households. Discuss what would happen if the U.S. government did the same thing today. Would households spend the extra income or use it to pay down debts
1. What is your take-away of this part of reading; in particular, what's the building blocks of ROI? 2. What's the application of ROI in the real-world business?
As a result what happened to the AD curve is unclear. An increase in government expenditures shifts the AD curve to the right while an increase in taxes shifts it to the left. Depending on the relative shifts, the AD curve could shift to the left,..
1. What has been the role of the Commonwealth Constitution in setting the framework for regulation of transport and communications?
a. Ignoring issues of scale, which program is most cost-effective? b. Assuming that the public health department wishes to vaccinate at least 5,000 children, which program is most cost-effective? c. If the health department believes that each vaccina..
Consider the following production function: Q = K L . Explain the special characteristics of this production function. How is it different from a Linear production function? How is it different from a Leontief production function?
Using an IS-LM diagram analyze what would happen to the economy if both consumer and business confidence decrease dramatically. Which policy mix would you advocate? Explain using a diagram.
The marketplace structure of Starbucks is a monopolistic competition. In the coffee industry, many producers and consumers exist, the goods and services are mixed.
Your computer is having network connectivity issues. One of the first troubleshooting steps is to ping the loopback address. Why? What is a loopback address?
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