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(1) Calculate the price elasticity of demand for the following demand functions: (a) Q = 5 - ln(P) for P=8 (b) Q = 2000 - 0.5P3 for P=15 (c) Q = (12-P)^2 for P=10 (d) P= 2/Q for P=1 (2) Advertising: Assume a firm's advertising elasticity is known to be 0.8. The firm's demand function is given by Q=100 - 2P. The firm charges a price of P=$3.50 for its product. Calculate the profit maximizing level of advertising per sale. (3) How does the "rule of thumb" for the profit maximizing advertising per sale level change if MC is equal to zero. Provide the new equation and explain!
why does the united states have so many laws acts and policies designed to prevent andor remedy discrimination in the
branding iron products a specialty steel fabricator, operates a plant in the town of west star, texas. the town has grown rapidly because of recent discoveries of oil and gas in the area. many of the new residents have expressed concern at the amo..
consider a firm in a perfectly competitive industry. the firm has just built a plant that cost 25000. each unit of
why does the insurer often need the permission of the insured to settle claims out of court for professional liability
(1) How do market incentives and disincentives led to the growth or the eradication of poverty? How is poverty measured? What seems to be the best way to life people out of poverty?
consider the following cobb-douglas production function for the bus transportation system in a particular cityq alb1
we have learnt that cbacost and benefit analysis is not the only method to choose among different public policies.
a country is described by the solow model with a production function y k12 where y is output per worker and k is
one reason for rising interest rates was the prospect of a refinancing issu; a $12 billion issue matures April 1 , and the governmoent is expected to seek some new money ,in excess of its refinancing needs. why dosent the government get the center..
Use a diagram to show consumer surplus price of 8.00and production of 6 million meals per day. If price remain at 8.00but production were cut to 3 million meals per day.
The toll-bridge operator is considering an increase in the toll to $7.At this higher price, how many people would cross the bridge? Would the toll-bridge revenue increase or decrease?
a manufacturing company leases a machine for 31812 per year. each unit produced costs 36 in labor and 72 in materials.
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