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1. a. Suppose the marginal social cost of television sets is $100. This is constant and equal to the average cost of television sets. The annual demand for television sets is given by the following equation: Q 200,000 500P, where Q is the quantity sold per year and P is the price of television sets. If television sets are sold in a perfectly competitive market, cal- culate the annual number sold. Under what circum- stances will the market equilibrium be efficient? b. Show the losses in well-being each year that would result from a law limiting sales of television sets to 100,000 per year. Show the effect on the price ,marginal social benefit, and marginal social cost of television sets. Show the net loss in well-being that will result from a complete ban on the sales of television sets.
2. Suppose perfect competition prevails in the market for hotel rooms. The current market equilibrium price of a standard hotel room is $100 per night. Show that the current market equilibrium is efficient, assuming that both the marginal cost incurred by sellers and themarginal benefit perceived by buyers reflect all costs and benefits associated with production and use of hotel rooms. Suppose a $10 per night tax is levied on hotel occupancy. Show how this tax will prevent the market from achieving efficient output. Show the loss in net benefits from hotel use resulting from the tax.
Explain how many machines should be purchased to meet the upcoming yr's demand without resorting to any short-term capacity solutions.
Why are many managers reluctant to take the actions necessary to correct deviations? Do you agree that if something isn't broke, it shouldn't be fixed? Why?
Prepare a porter's five force analysis for 3m HIS. Compare and contrast the five forces affecting 3M HIS in its industry. Note critical factors to each and critical differences in the firms domestic and foreign markets.
What are some things you have learned about academic writing? Is there anything that surprises you? How can academic writing be diverse and complex? How does academic writing differ from writing you have encountered at work? Are there any similaritie..
Consider a CONWIP flow line with 3 stations in series (1à2à3); each station consists of a set of identical machines. The throughput capability (production rates) of stations 1, 2, and 3, are 3, 2, and 4 units per hour, respectively, and the correspon..
Why should or should not P&G compete in the green shampoo category? (Support your argument for either decision you think they should choose.)
write a 100- to 250-word summary in which you explain how strategic portfolio management relates to project management.
Substantial Performance. The Caplans own a real estate lot, and they contract with Faithful Construction, Inc., to build a house on it for $360,000. The speci?cations list “all plumbing bowls and ?xtures . . . to be Crane brand.” The Caplans leave on..
What are the pros and cons when it comes to Consumer created content on the web. explain what e marketers must pay attention to on web created contente. Examples please.
Explain the need to develop three new positions including one first-level management position. Include a needs analysis, diversity issues, job analysis, job descriptions and qualifications for the three positions,
Using the South University Online Library or the Internet, research and read about the lawsuits filed against energy drink manufacturing companies or other deceptive advertising lawsuits such as weight loss supplements.
the warehouse manager thought your presentation on operations management was extremely valuable to the company. he now
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