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The market for a standard-sized cardboard container consists of two firms: CompositeBox and Fiberboard. As the manager of CompositeBox, you enjoy a patented technology that permits your company to produce boxes faster and at a lower cost than Fiberboard. You use this advantage to be the first to choose its profit-maximizing output level in the market. The inverse demand function for boxes is P = 1200 – 6Q, CompositeBox’s costs are CC(QC) = 60QC, and Fiberboard’s costs are CF(QF) = 120QF.
Ignoring antitrust considerations, by how much would your profits increase if you merged with Fiberboard?
What is the minimum amount you would have to offer Fiberboard for it to accept your purchase offer?
Suppose that, initially, the Michigan economy is in equilibrium with no unemployment. The supply of workers is ES = -1,000,000 + 200w, and the demand for workers is ED = 16,500,000 – 300w, where w = annual wages, and E = number of employed workers.
Your firm rents a supply management system to hospitals. You have received a buyout offer of $5 million. You forecast a 25 percent chance that you will have profits of $10 million, a 35 percent chance that you will have profits of $6 million, and a 4..
Your friend's monthly demand for minutes of calling is given by the equation 50, where p is the price of a minute.
Suppose an economy’s production function is Y = K1/2 x [AN]1/2 and that the savings rate, s, is equal to 21%, the depreciation rate, d, is equal to 8 %, the number of workers grows at 1.7% and the rate of technological progress is 6% per year, then f..
An automobile manufacturer is converting an assembly line from standard vehicles to hybrid vehicle production. Conversion will cost $100 million. Production capacity will be 4000 vehicles in the first year and will increase by 1000 vehicles per year ..
Grandparents decided to start a college fund for their soon to be born granddaughter. They plan to make third first deposit the day she is born and plan to make the last deposit on her 10th birthday. They want the child to be able to withdraw 10,000 ..
Using a graph explain the welfare impact of export subsidy on domestic consumers, producers, government, and national welfare in a) a small country b) a large country
In 2012, the box industry was perfectly competitive. The lowest point on the long-run average cost curve each of the identical box procedures was $4, and this minimum point occured at an output of 1,000 boxes per month. What was the equilibrium price..
Government A decides it wants to eliminate poverty and unemployment by immediately issuing 50,000 dollars/yr to all unemployed citizens. All said citizens receiving the 50,000 per year under this government are thereby not considered unemployed. Expl..
The Individuals with Disabilities Education Act mandates that states and localities provide appropriate education for all students identified as having special needs. States have responded by funding special education using several different mechanis..
If consumption and government purchases go up, what happens to GDP in the long run. Show this graphically.
Suppose the demand and supply of chickens is given by: Graph the demand and supply curves and determine the equilibrium price and quantity. Suppose a quota of 4000 chickens in imposed. What will be the new equilibrium price? What is the loss to consu..
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