Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The inverse market demand in a homogeneous-product Cournot duopoly is P = 100 – 2(Q1 + Q2) and costs are C1(Q1) = 12Q1 and C2(Q2) = 20Q2.
a. Determine the reaction function for each firm.
b. Calculate each firm’s equilibrium output.
c. Calculate the equilibrium market price.
d. Calculate the profit each firm earns in equilibrium.You are a manager for Herman Miller—a major manufacturer of office furniture. You recently hired an economist to work with engineering and operations experts to estimate the production function for a particular line of office chairs. The report from these experts indicates that the relevant production function is
Q = 2(K) 1/2 (L) 1/2
where K represents capital equipment and L is labor. Your company has already spent a total of $10,000 on the 4 units of capital equipment it owns. Due to current economic conditions, the company does not have the flexibility needed to acquire additional equipment. If workers at the firm are paid a competitive wage of $100 and chairs can be sold for $200 each, what is your profit-maximizing level of output and labor usage? What is your maximum profit?
1.Flank defense: protecting a weak flack by erecting outposts 2.Contraction defense: giving up weaker territories and reassigning resources to stringer territories. what's the diffrence between Flank defense and Contraction defense?
What are the three tools the Federal Reserve uses to change the money supply and insert rates in the economy? Which of these tools is most important and why?
Now assume that there're five firms in the industry, and that they collude to set the price. What price will they set? What will be the output of each firm? What will be the profit of each firm?
When the price of a good is $5, the quantity demanded is 100 units per month; when the price is $7, the quantity demanded is 80 units per month. What is the price elasticity of demand, using the midpoint method?
Indicate your understanding of the current state of the economy by reporting whether you believe we are in a recession, a trough, in a recovery, or at a peak of the business cycle given a comparison of current and historical levels of real GDP.
Graph the demand and supply curves. What is the equilibrium price and quantity in this market and if the actual price in this market were above the equilibrium price, what would drive market toward the equilibrium?
Calculate the equilibrium price and quantity that will prevail in a free market and calculate the price elasticity of demand and the price elasticity of supply at the equilibrium.
If research proved that malt in beer prolonged life would consumers change their consumption of beer? Explain your answer
What is the new profit maximizing output level and how many workers are hired at this level
Consider the firms short run decision to hire workers. Suppose that a firm produces goods for sale in the perfectly competitive market. labor markets are competitive as well.
Suppose the price of labor increases to $2 per unit. What effect will this have on output per unit of labor and is this plant subject to decreasing returns to scale? Why or why not?
A can manufacturing company produces and sells three different types of cans:Versions X, Y, and Z. A high-level, simplified profit/loss statement for the company is provided here. Corporate overhead(rent, general and administrative expense,etc.) i..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd