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The monopolist's demand function is P = $405 - $5Q, its average cost function is AVC = $20+$0.5Q, and its fixed costs are $6,000 per hour. Calculate the monopolist's profit maximization output, price and its hourly profit. Calculate the elasticity of demand at its profit maximizing output.
You are the manager of a monopolistically competitive firm, and your demand and cost functions are given by Q = 36 - 4P and C(Q) = 124 - 16Q + Q2. a. Find the inverse demand function for your firm's product. P = - Q b. Determine the profit-maxi..
On amazon.com, 45 percent of customers pay by American Express credit card. Suppose we have a sample of 5 customers, what is the probability that at least 4 will pay by American Express
Calculate the value of each of the following, before the tax and after the tax, to complete the table that follows: 1. The Equilibrium quantity produced Equilibrium Quantity (Millions of units) Before tax? After tax? 2. The equilibrium price consume..
Prudential Realty has an escrow account for one of its property management clients that currently contains $20,000. How long will it take to deplete the account if the clients withdraws $5000 now, $4500 one year from now,and amounts decreasing by ..
Lenders perceive that you are risky, so you must pay 12 percent annual interest to borrow from one of them. You only receive 6 percent on funds you have deposited in the bank. Do the opportunity costs of borrowing and using your own funds differ i..
Suppose that the rural part of a country is hit by a major earthquake that destroys 10% of the countries housing stock. The government and private sector respond with a major construction effort to help rebuild houses. Discuss how this episode is ..
a. Calculate the opportunity cost of an increase in the number of hours spent studying in order to earn a 3.0 grade point average (GPA) rather than a 2.0 GPA. b. Is the opportunity cost the same for a move from a 0.0 GPA to a 1.0 GPA.
Power cost per kwh is $0.14. Annual maintenance, taxes and insurance will be 2.5% of the initial cost. a. What is the annual equivalent cost for each motor b. What is the IRR (Internal Rate of Return) on the incremental investment to select the more ..
An upstart phone company has only two potential large customers, Firm A and Firm B. Firm As monthly demand for phone calls is Q1 = 2; 800 - 200p and Firm 2s is Q2 = 5; 000 - 100p. The marginal cost of providing a phone call is 6 cents.
Consider the following sets of investment projects, each of which has a three-year investment life: Period Project Cash Flow n A B C D 0 -5,000 -2,000 4,500 -3,500 1 5,800 -4,400 -6,000 1,000 2 12,400 7,000 2,000 5,0003 8,200 3,000 4,000 6,000
If two people have cardinal utility functions, person1 is Utility = XY and person2 is Utility = (XY)^1/3 which bundle would they find to be best Bundle 1: Has an indifference curve of Y = 1/X
Compute the inflation rate for each year 1989-2006 and determine which were years of inflation. In which years did deflation occur In which years did disinflation occur Was there hyperinflation in any year
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