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Suppose you are the manager that sells a commodity in a market that is, for all intents and purposes, a perfectly competitive market. Your cost function is TC = C(Q) = 50+0.01*Q^2. Your marginal cost function is MC(Q) = 0.02*Q. Unfortunately, due to production lags, you must make your output decision prior to knowing for certain what price will prevail in the market. You believe that there is a 20% chance that the market price will be $500 otherwise, the other possible value for the market price is $600.
1. Calculate the expected market price.2. What output should you produce in order to maximize expected profits?
Illustrate ahat are the general equilibrium values of the real interest rate, price level, consumption, and investment.
Illustrate what recommendations do you have for Speedy to offset the impact of their increasing costs. What recommendations do you have for Speedy to increase their total revenues.
Explain how much should the store charge for an yearly membership in order to extract the entire consumer surplus via an optimal two-part pricing strategy.
As we know about the own-price elasticity for good x.
Utilize these determinants in judging either demand for every of the following products is elastic or inelastic.
I am planning giving a patent for a new drug. The public demand is given through: P=120-10Q, where Q is quantity of the drug and P is price. If the marginal cost of production is given by MC = 2Q,
Fully discuss the method by which the Federal Reserve uses the banking system to create new money.
The question asked was assume that the government imposes a price ceiling on toasters. In particular, suppose that it decrees that a toaster cannot sell for more than $14.
Social Dynamo Corporation earned profits last year of $49 million on sales of $500 million. During the same period, its major competitor - EIO Corp.- enjoyed sales of $490 million and earned profits of $52 million.
Illustrate average monthly rent for a three-bedroom apartment in Miami. Qd is measured in units of 1,000 square feet per month.
Elcidate how slower inventory turnovers, slower receivables collections, or faster payments to suppliers would influence the numbers produced by a cash budget.
A firm with costs C(Q) = 1,000 + 60Q + 0.1Q2 is able to price-discriminate-What would happen if it were forced to charge all its customers the same price?
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