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Gasoline costs $0.95 per liter and will increase at 6% per year. At a fuel economy of 9km/liter, what is the present worth cost of fuel for five years of driving 30,000km per year? Use 6.2% interest. What is the equivalent equal annual cost of the fuel for the 5 years?
The given information is the quarterly sales of gasoline in the U.S. in millions of barrels during part of the 1980s and the 1990s. Determine the linear trend and use it to forecast sales for first quarter of 1992.
a. Find the uniform continuous probability for P(X 645) for U(0, 1,000). c. Find the uniform continuous probability for P(30
Suppose that the demand for gasoline is given as P = 3.6-0.002Q where P is the price of gasoline in $ per litre and Q is liters of gasoline per day. If you know that current price of gasoline is $1.3, what is the point price elasticity of demand a..
Customers to Live Theaters, Inc. can be divided into two groups: seniors and everyone else. The inverse demand curves for each of the two groups are given below. The marginal cost (which equals the average variable cost) of serving
The plan is to make an initial deposit today and then deposit an additional $2,500 a year for the next three years, starting one year from today. The account pays a 3% rate of return. How much does the Bluebird Company need to deposit today.
The payouts for the Powerball lottery and their corresponding odds and probabilities of occurrence are shown below. The price of a ticket is $1.00. Find the mean and standard deviation of the payout.
Competitive Firm Suppose the competitive market price is $84, and a competitive firm's total costs = 4q2 - 4q + 100 and marginal cost = 8q - 4. a. Solve for the profit-maximizing (or loss minimizing) quantity (q*).
A monopolist has two types of customers. There are 100 of Type A, who will each pay up to $10 for a single unit of the good, and 50 of Type B, who will each pay up to either $8. Neither is willing to purchase additional units at any price. If it m..
Suppose there are 100 firms in the economy. Let us call them firm 1, firm 2, and firm 100. For firm j (j=1,2,100) the labor demand (or equivalently MPN) is Nj = 1 - 0.02w where w is the real wage. Note that labor demand function for the whole econ..
The table below shows the total production of a firm as the quantity of labor employed increases. The quantities of all other resources employed are constant. Compute the marginal and average products and enter them in the table.
The Demand for sugar in Canada in terms of it's price, P, was once estimated to be QD = 135 - 8P. If this equation were valid today, calculate the following: (a) How much would be demanded at P = 10 b) How much would be demanded if the sugar were fre..
The average retail price of the cookbook will be $30, and the average cost will be $20. Assume that the equation for demand is Q = 10,000 - 9,000P, where Q = the number of cookbooks sold per month P = the retail price of books.
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