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Bill operates a boat rental business in a competitive industry. He owns 10 boats and pays $1,000 per month on the loan that he took out to buy them. He rents each boat for $200 per month. The variable cost for each boat rental is $50. In the off season, Bill should
a. operate his business as long as he rents at least 7 boats per month. b. operate his business as long as he rents at least 1 boat per month. c. operate his business as long as he rents all 10 boats each month. d. raise the price he charges per boat rental.
Divide the Banzhaf power index by the number of votersin state. Are votersin small states or are votersin big state more powerful, according to this measure.
Why would it be valuable for a business to know cross elasticity of demand for two products it produces: peanuts and popcorn.
Elucidate why your answer to part (a) is an example of marginal analysis also optimizing behavior in general.
M is the average income in the United States. What could be the impact on your rm.
This is the conclusion reached by the reporter who covered the vigorous price competition between Borders also Barnes & Noble in Fort Worth region during the 2006 holiday shopping season.
Suppose the demand for good X is given by Qdx = 10 - 2Px + Py + M. The price of good X is $1, the price of good Y is $10, and income is $100. Given these prices and income, how much of good X will be purchased?
Explain how a group of nations could develop a cartel to maximize their profits of COFFEE. Be sure to address natural resources and/or factor endowments that could be leveraged in the creation of the cartel.
Assumes the perfectly competitive firm is in long-run equilibrium also there is an rise in Demand
Compute the price elasticity also advertising elasticity. Interpret each one. Illustrate what is the predicted range of Demand for Sun workstations with 95 percent (%) confidence level.
Suppose the Quick Towing Company purchases a new tow truck. The old truck had a book value of $1,000 and was sold for $1,420. If Quick Towing is in the 34 percent marginal tax bracket, what is the tax liability on the sale of the truck? What is the a..
Each firm can monitor the other's price very closely and can respond instantly
Illustrate what must the saving rate be to achieve the Golden Rule level of capital.
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