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Consider the pricing problem of Alcoa's cookware division. Suppose that the world last for only two periods, period 1 and period 2. A saucepan last two periods, so that a saucepan that is bought in period 1 can also be used in period 2. Consumers values of using a saucepan for one period are distributed uniformly between 0 and 100. So for example, someone who values the saucepan at 30 will get utility of 60 if they use it for two periods. There is no discounting. Marginal cost of making saucepans is zero.(a) Suppose that the firm announces that it will set prices of 80 in period 1 and 45 in period 2. How many consumers will buy in each period?(b) Suppose that the firm announces that it will set prices of 80 in period 1 and 35 in period 2.How many consumers will buy in each period?(c) Suppose that all consumers with per-period valuations above 40 buy in period 1. If the firm is free to sets it price in period 2, what price will it set given the consumers who are left in the market?(d) Suppose that the firm instead rents saucepans every period. What rental price should it set?
The coach wants to help Omar and has asked him to lead the prayer at the next game. Omar is nervous about whether he should say a Christian prayer or a Muslim prayer. He is also concerned about how to respond to the invitations to attend church.
Write down everything you would require durint your preparation for the debate.your preparation should include graphs and formulas.
Do you believe in the idea that governments should run surpluses in good years only to spend their way out of a recession in bad years Why do we often see government revenues and spending change when we are in a recession.
A monopolist has demand and cost curves given by: Find out the quantity that maximizes profit? What is the revenue and profit at that point?
HAVE THESE RATES INCREASED OR DECREASED SINCE THE SAME WEEK IN 2008? (FOR EXAMPLE, IF YOU ARE DOING THIS ASSIGNMENT ON AUGUST 18, USE THE RATE FOR THE WEEK INCLUDING AUGUST 18, 2008.)
First, identify and describe the three basic questions that all economies must answer. Write a thorough paragraph for each of the three basic questions and be sure to explain how any of these questions relate to demand, scarcity, technology, the d..
Suppose you are the CEO of ClipIt, a paper clip producer. Your firm enjoys a patented technology that allows it to make paper clips faster and at a lower cost than your only rival, FastenIt.
If the interest group theory applies to hospitals, explain why does not it also apply to nursing homes? Would a doctor owned, for profit hospital be as attractive to physicians as a nonprofit hospital?
The marginal product of labor (measured in units of output) for Expando Corp. is given by MPN = A(400-N) where A measures productivity and N is the number of labor hours used in production. Suppose the price of output is $.150 per unit.
A firm that sells e-books books in digital form downloadable from the Internet sells all e-books relating to do-it-yourself topics (home plumbing, gardening, and so on) at the same price. At present, the company can earn a maximum annual profit of..
Name the circumstances which indicate an oligopolistic market structure and discuss a real life example of such a market structure. What are the most significant differences between oligopolistic and perfect competition from the consumer's point o..
Ulrick and Birger started an air taxi service in Berlin, Germany, under the name Berlinair, Inc. Biger was approached by a group of travel agents who were interested in hiring an air charter business to take German tourists on vacation. Birger for..
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