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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 $25,000 when it sells 10,000 copies within a year’s time. The firm incurs a 50-cent expense each time a consumer downloads a copy, but the company must spend $100,000 per year developing new editions of the e-books. The company has determined that it would earn zero economic profits if price were equal to average total cost, and in this case it could sell 20,000 copies. Under marginal cost pricing, it could sell 100,000 copies. A.) In the short run, what is the profit-maximizing price of e-books relating to do-it-yourself topics? B.) At the profit-maximizing quantity, what is the average total cost of producing e-books?
People are lured by the idea of 50 mile per gallon vehicles which still perform well also are willing to pay the high prices to get one.
If your employees are self-interested, how much output would you expect each individual worker to produce absent monitoring.
the price to BBB-rated companies rose from 37.5 basis points in 1998 to approximately 129 basis points in 2002. This is a 244% increase in the price or spread. Explain these changes using shifts in demand and/or supply.
Explain how many units of pork will the government be forced to buy to keep the price at $2.25. How much will the government spend in total.
while a decrease in price of pizzas rotates it rightward. How can we possibly speak systematically about people's preferences.
A recording company obtains the following information about the demand and production costs of its new.
Assume the current equilibrium price of cheese pizza is $10 also 10 million pizzas are sold every month. After the federal government imposes
Assume that the benefits and costs of infrastructure improvements are for one time only - i.e., ignore all long run implications. What are benefits and costs of infrastructure improvements.
Calculate the coefficient of price elasticity (midpoints approach) for Goldsboro's supply. What was Diane's economic profit.
Illustrate what are the assumptions being made about Jackie by her colleagues also managers.
Compute the gross price paid by consumers after a per-ticket tax of $4. Calculate the after-tax price received by ticket sellers.
Flora's Flowers operates in a perfectly competitive market. At the point where marginal cost equals marginal revenue.
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