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A local phone company has three family plans for its wireless service. Under each of these plans, the family gets two lines (phones) and can make local and long dis- tance (within the United States and Canada) calls for free so long as the total number of minutes used per month does not exceed the plan maximum. The price and maximum minutes per month for each plan are: Plan 1: 500 minutes for $50; Plan 2: 750 minutes for $62.50; and Plan 3: 1000 minutes for $75.00. Assuming that there are equal numbers of consumers in each group and that the value of a marginal minute for each group declines at the rate of $0.0004 per minute used, work out the demand curves consistent with this pricing. What surplus will each consumer group enjoy?
Jessica Alba, a famous actress, starts the baby and family products business, The Honest Company, with Christopher Gavigan. Alba and Gavigan set up their site so families can choose what kinds of non-toxic, Describe a skimming price and a penetration..
When companies in oligopolistic industries announce a proposed merger, it is often met with resistance from antitrust authorities (such as the Federal Trade Commission (FTC) and the Department of Justice (DOJ) in the U.S.). In the U.S., we have seen ..
Assume there are two firms in a market who each simultaneously choose a quantity.
The annual fixed costs for a plant are$100,000.For production at 80% of the full capacity, the variable cost is$140,000 and the net sales is $280,000 if the selling price per unit is $40 Draw the breakeven chart. what is breakeven point in units of p..
Consider a production function of the form Y = AF (K, N, Z), where Z is a measure of natural resources used in production. Assume this production function has constant returns to scale and diminishing returns in each factor. a. What will happen to ou..
The marginal cost of a college education is given by the equation MC = ½ Qs + 2, where Qs represents the national student enrolment in millions each year. The demand for a college education is given by the inverse demand function P = -½ Qd + 18. In a..
The shape of the long-run cost curve is determined by economies and diseconomies of scale. Contrast this curve with the short-run cost curve as it relates to increasing and diminishing marginal returns to labor.
q1. were past societies in human history more ecological than our society today? what is the most ecological society
A local utility finds that when the price of natural gas (dollars per mcf) is 3.52 the average household uses 4.17 mcf. Further, when the price is 4.65 an average household uses 3.65 mcf. Calculate the slope of a linear function that describes this r..
Suppose that the total revenue function of a firm is given by TR(q) = 120q - 2q^2, where q is the level of output. Find the level of output q that will maximize the firm’s total revenue. Also, compute the maximum amount of total revenue received by t..
How do segmentation of global financial markets, government incentives to attract direct foreign investment (DFI) and variation in national tax rates allow multinational corporations to lower their cost of capital compared to single country corporati..
Suppose that the U.S. the demand for phones is given by P=700-Q that the supply is given by P=200+Q. In Korea suppose the demand is given by P=600-Q and supply is given by P=50 + (Q/2). Please regard phones as a homogenous product. Prices are all in ..
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