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Rick sells hamburgers, facing no competition the demand for his burgers is: Q=1000-2P, where Q is the quantity of burgers sold per week and P is the price of a given hamburger. Suppose Rick’s monthly cost is given by: TC= 1000+100Q A. Rick hires Jack to advise him on the best price to charge for his burgers. Wishing to Max Rick’s profit, what should Jack recommend Rick to Charge? What will be rick’s weekly profit at this price? What is the value of the Lerner index at Rick’s profit-maximizing price? B. If the town government forced rick to produce at the perfectly competitive quantity, what would be Rick’s price and quantity, as well as profit? if this is assuming that rick is the only person in the market can the charge whatever he wants for a burger..
When companies expand into the international arena, they do so either because their home market has matured or because they see real opportunities in the foreign market. Discuss which kinds of international strategies are most appropriate for compani..
What are intellectual property rights? How are they different from property rights to physical assets? Why has digitalization been hazard to intellectual property rights?
If this price floor is implemented, how many units of pork will the government are forced to buy to keep the price at $2.25.
Brian is the 99% shareholder, president, and director of Arapine Corp. He frequently uses the corporation credit card for his personal expenses. If Arapine is insolvent and unable to pay its debts, and the corporation’s creditors sue Brian personally..
Calculate the expected utility of each project according to this criterion. (c) Is this individual risk adverse, risk neutral, or risk seeking?
In 2003 at Holloman Air Force Base in New Mexico, test engineers set a world record by moving 192 lb payload at 6,453 miles per hour in a rocket sled. The rocket sled track, built in 1954, is 15.44 km in length. Assume the sled moved at the maximum s..
State two economic principles of taxation and which principle best justifies the excise tax on gasoline, when the tax revenue is used to maintain or improve the roads.
Travelers driving through Gotham city can use a freeway or cross town toll way to get thru the city. The toll way charges $1.00 per car during the morning rush (6-9AM) and the afternoon rush (4-7PM) and the toll is $0.40 at other times. What are the ..
What are the effects of capital formation by comparing the ppf,at the present time and ten years in the future,for two economies,one with a high and the other with alow rateof capital formation.
Elucidate how many additional watches can be produced by an extra hour of labor.
In evaluating the accuracy of their statements, should one distinguish between (i) economist’s descriptive statements, propositions, and predictions about the world, and (ii) their statements about what policies should be adopted. Explain in detail
In order to engage in price discrimination, a monopolist has to be able to determine that there are different groups of consumers that have different ________ for the product.
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