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A private-garage owner has identified two distinct market segments: short-term parkers and all-day parkers with respective demand curves of Ps=3-(Qs/200) and Pc=2-(Qc/200). Here P is the average hourly rate and Q is the number of cars parked at this price. The garage owner is considering charging different prices (on a per-hour basis) for short-term parking and all-day parking. The capacity of the garage is 600 cars, and the cost associated with adding extra cars in the garage (up to this limit) is negligible. a.) Given these facts, what is the owner's appropriate objective? How can he ensure that members of each market segment effectively pay a different hourly price? b.) What price should he charge for each type of parker? How many of each type of parker will use the garage at these prices? Will the garage be full? c.) Answer the questions in part b.) assuming the garage capacity is 400 cars.
Assume the demand function for basketballs is given by QD = 150 - 3P + 0.1I, where P = price of a basketball and I = average income of consumers. Also, assume the supply of basketballs is given by QS =2P. If the market for basketballs is perfectly..
A credit card company wants your business, If you accept their offer and use their card, they will deposit 1% of your monetary transactions into a savings account that will earn a guaranteed 5% per year.
A company will need $65,000 in 5 years for a new addition. To meet this goal, the deposits money in an account today that pays 7% annual interest compounded quarterly. Find the amount that should be invested to total &65,000 in 5 years.
What is the annual equivalent value of a geometrically increasing series of payments which has first-year base of $30,000 increasing by 8% per year for 10 years with an interest rate of 12% compounded monthly
On July 1, Sarah Engineer paid $600,000 for a commercial building and an additional $150,000 for the land on which the building stands. Compute the UCC at the end of year 2. CCA rate for buildings is 4%.
Consider a consumer with the utility functionU(X,Y)=10Min(X,Y) , where Min is the minimum ofthe two values of X and Y. If the prices of the two goods are Px=$4 andPy=$8, and the consumer income is $60.
Solve Tracy's problem of how often to go to the ATM when nominal interest rate on her bank account is 10%, she spends $30 each day, it cost her $0.50 each time she uses the atm, and she thinks that there is a 15% chance.
a. Plot the supply and demand curves b. Calculate the equilibrium price and equilibrium quantity. c. Suppose the government imposes a price ceiling of $30 in this market. Determine mathematically and graphically the loss of social welfare.
An investor deposits $30,000 annually at the end of each year for the next 15 years. At the end of the 16th year he starts to withdraw a geometric series of 20 annual payments, each 5% larger than the previous one. If the first payment is $50,000
A firm has a production function Q=F (K, L) with constant returns to scale. Input prices are r=$2/ K-unit and w=$1/L-unit. The output expansion path for this production function at these input prices is a straight line through the origin.
If the government imposes a tax of $15 a month on the market, what price would the buyer of an Internet service pay?__________ What price would the seller of the Internet service receive?____________________
Suppose that the market for cigarettes in a particular town has the following supply and demand curves: Qs = P; Qd = 50 - P with quantities measured in thousands of units. Suppose the town council needs to raise $300,000 in revenue
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