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Your the manager for a college football team. Assume you own the stadium and the variable cost per attendant is $0. You’ve been told by your in-house economist that you should set the price of tickets at $50 to maximize profit. Your football coach is really pushing to sell out the game. If $50 is the profit maximizing price, will you sell out the game? Why or why not?. can you help me with this. can you explain whether or not i sell out the game and why
Suppose, as in the federal income tax code for the United States, that the representative consumer faces a wage income tax with a standard deduction. determine the effects of this tax change on the consumer, and explain your results in terms of incom..
Discuss a time when you have had to deal with a sensitive and/or a negative message like working in retail. What would you do differently in light of the material covered in this module? If you would do nothing differently, describe how your handling..
In the long run the interest rate adjusts to adjusts to balance the supply and demand for loanable funds. In the short run, the interest rate adjusts to balance the supply and demand for money. Discuss.
A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. Give the profit after calculating the profit-maximizing price and quantity. ..
Explain which of the two classmates would you prefer as a partner. Would he also want you as a partner.
Describe the key differences between simulation models and the models covered in previous modules; not only from the perspective of their applications, but also from the perspective of computing/solving the models had(Previous models included multipl..
Suppose that the demand curve (hundreds) for apples is given by Qd = 140 - 5P, where Qd is the number of pounds demanded per year and p is the price per pound. The supply of apples can be described by Qs = 40 + 5P, where Qs is the number of pounds pr..
In general terms, efficiency refers to:
Brenda owns a construction company that employs bricklayers and other skilled tradesmen. Her firm’s MRP for bricklayers is $22.25 per hour for each of the first seven bricklayers, $18.50 for an eighth bricklayer, and $17.75 for a ninth bricklayer. Gi..
Prove that the firm has decreasing returns to scale. Theresa received an order for 5000 units. Find the optimal K/L ratio, as a function of w/r. Next, assuming w = $20 and r = .10, solve for Ki*, Li*, and qi*. Then draw a graph, showing the isoquant ..
The market for autographs by a superstar baseball player during the 1950s and 1960s indicates that while the player’s autograph is not rare it remains highly desirable and of relatively high price to collectors. Use one graph to show both the demand ..
If capital gains tax is on nominal gains, Explain how much tax Sally pays on her gain. Calculate Kelly's capital gains if tax is on real gains.
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