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Assume that the quarterly demand and supply functions for German made Bosch washer machines: Qd = 340 – 6P Qs = 100 + 2P
a. Where price is $125 dollars, what are the quantities demanded and supplied?
b. Assume that Bosch Inc. wants to prevent its competitors from under cutting their prices. So the Executives from Bosch decide to eliminate all competition by self imposing a price floor of $37. Would this result in an excess supply of or demand? Draw graphs
c. Assume that Bosch wants to focus solely on price and decides to raise prices significantly to $325. Would this result in an excess supply of or demand? Draw Graphs
Explain how much consumer surplus exists in this market. If a $2.00 excise tax is levied on this good what will happen to equilibrium price and quantity.
Suppose the demand curve for a monopolist is QD = 500 − P, and the marginal revenue function is MR = 500 − 2Q. The monopolist has a constant marginal and average total cost of $50 per unit. Find the monopolist’s profit-maximizing output and price. Ca..
You start to work for a company that pays you wage $x per hour. The company then offers a raise to any employee that receives a master’s degree that is very difficult to get, yet has no direct benefit to job performance. a) Explain the company’s reas..
Trace through the circular flow model in Chapter 6. What is the point of the circular flow model, what are some leakages and injections into the circular flow model, and how are the leakages and injections related to the circular flow?
How does the relative tax advantage change if the company decides to pay out all equity income as cash dividends that are taxed at 15%?
Competitive Market Surplus. Suppose demand and supply conditions in the competitive market for unskilled labor are as follows: P = $15 ? 0.3QD (Demand) P = $3 + $0.1QS (Supply) where Q is millions of hours of unskilled labor and P is the wage rate pe..
Q. assignment on list down three different product that operate under monopoly form of market. are the price charged justified or not. Illustrate what are the steps taken by the govt. to check the prices from being over charged by the monopolist.
Illustrate what is the effect of Westland's expansionary monetary policy on Eastland's nominal exchange rate in the short run and in the long run.
How many bushels will each of the farmer’s five acres produce? How much revenue will each acre generate? What are the TR and MR for each acre?
The Nation of Wiknam has 5 million residents whose only activities are producing and consuming fish. They produce fish in two ways. Each person who works on a fish farm raises 2 fish per day. Why do you suppose that X, the productivity of each fisher..
George, who owns and runs Tots Poses, expects to encounter an average of eight customers per day, each with a reservation price shown in following table. What are total revenues, average revenues and marginal revenues
Two bike riders, Floyd and Lance, are scheduled to race. Each wants to maximize his chance of winning the race; neither has any reservations about taking steroids if that will help win the race. If both take steroids, each has a 50 percent chance of ..
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