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The Zenvox Television Company faces a demand function for its products that can be expressed as Q = 4,000 - P + 0.5I, where Q is the number of televisions, P is the price per television and I is the average monthly income. Average monthly income is currently equal to $2,000. Answer the following questions. A. Graph the demand curve (sometimes called the "inverse" demand curve) faced by Zenvox at the current income level. Be sure to label this and all graphs you draw carefully. On the same graph, depict marginal revenue. At what price and quantity is Zenvox's total revenue maximized? What is the marginal revenue at this point? Show the calculation.
Explain how you would test null hypothesis that b1=0 in the multiple regression model, Y=b0+b1*X1+b2*X2+b3*X3+u. Also, explain how you would test the joint null hypothesis that b1=b2=0
Suppose Venezuela imports TV sets at a price of $150 each. Under free trade, how many sets does Venezuela produce, consume, and import? Determine Venezuela's consumer surplus and producer surplus. b. Assume that Venezuela imposes a quota that limit..
Consider the Joint Density: 2(x+y) if 0 2. Calculate Fx (0.5) 3. Calculate Fy (0.5)
The cash flow for four projects is described below of which you can invest in one project only. In all, an upfront investment is made in year 0. All projects are for five years and the MARR to be used in the evaluations is 10%.
price:1.75, 2.00, 3.00, 4.50, 5.00, 5.50. quantity: 55, 110, 165. mc=5.00/165, 3.00/110, 1.75/55. atc=5.00/165, 5.50/55. avc=2.00/55. demand=1.75/55. mr=2.00/55. How many DVDs should be sold to rent per day to maximize profit
Consider a two-onsumer exchange economy. Consumer 1 and 2 have utility functions: U1(x, y) = x2/3y1/3 U2(x, y) = x1/2y1/2Initial endowment e1=(18,7) (It means consumer 1 has 18 units of x and 7 units of y initially), e2=(15,16).
Consider an exchange economy with two goods, 1 and 2, and two consumers, A and B. The consumers are initially endowed with a total of unit of each good, i.e. w1 = w1A + w1B = 1 and w2 = w1B + w2B = 1. Their preferences are represented by UA(x1, x2..
If the material costs were $140,000 per quarter and the service charges were calculated as 20% of the material costs, what is the present worth of the contract through the 3 year treatment period at an interest rate of 1% per month
Suppose the individual demand for a product is given by QD = 1000 - 5p. Marginal revenues is MR = 200 - 0.4Q, and marginal cost is constant at $20 there are no fixed cost. A. The firm is considering a quantity discount. The first 400 units can be ..
US and Canada can both grow wheat and can do mining. Use the following table to look for which country has a comparative advantage in mining. (Hint: Find the Absolute Absolute Cost in US Cost in Canada Wheat $5 C$8 Mining $10 C$12 c..
John and Susan opened savings accounts at two different banks. They each deposited $1,000. John's bank pays SIMPLE interest at an annual rate of 10% but Susan's bank pays COMPOUND interest at an annual rate of 9.5%.
A large profitable corporation is considering two mutually exclusive capital investments: Alt A. Initial Cost: 11,000Uniform Annual Benefit: 3,000 End of depreciable life salvage value: 2,000 Depreciation method: SL End of useful life salvage value
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