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Assume there are two types of consumers: type A consumers have a demand
Q =10
P for widgets, and consumers of type B have a demand Q = 5P. Assume that there are 10 consumers of each type.
(a) Calculate the market demand.
(b) Assume that the market price for the good is $4 due to perfectly elastic industry supply. Using the market demand function, calculate the total consumers surplus.
(c) Calculate the total consumers surplus using individual demand functions.
A security analyst specializing in stocks of motion picture industry the relation in number of movie theater tickets sold in December and the annual level of earnings in motion picture industry.
What is the profit-maximizing price and output level. Solve this algebraically for equilibrium P and Q and alos plat the MC, D and MR curves. b. What profit do you expect that the firm will make in the first year? c. Do you expect this profit leve..
1. The three fundamental economic questions of what, how, and for whom: a-exist because of scarcity. b-are much more serious in a socialist system. c-are not serious in a capitalistic system. d-are not relevant in the industrialized world of today.
What is the percentage increase in production when valued at 2009 prices is ___21.6______percent. Answer to 1 decimal place.2008: Lattes 97/$7 each Cappuccinos 53/$5 each 2009: Lattes 114/$8 each Cappuccinos 69/7$ each
The construction of a dam will cost $1,000 at time 0, $500 in year 1, $500 in year 2. It will be completed at the end of year 2. Beginning in year 3, maintenance costs will be $100 per year through year 10. From years 11 on, maintenance costs will..
Swapna David is a customer assistant consultant for Acme Information Systems, who provides assistance for computer users. The mean number of calls per hour is 40 from across the United States and calls are independent.
Groupon is a popular group purchasing and daily deals website. In a current promotion, a local restaurant to sold buffet vouchers at a step discount on Groupon's website.
certification roughly equivalent to a high school diploma. The demand schedule for new hires with le bac and the supply schedule for similarly credentialed new job seekers are given in the accompanying table. The price here- given in euros, the cu..
find the diagonal and off-diagonal elements of b 2- find the transpose b' 3- show that the transpose of b' equal b that is (b')'=b
Discuss forecasting and explain why is it so important in the management of business firms and other enterprises also determine the different types of forecasting?
A company desires to estimate the cost of building a 600-MW fossil-fuel plant for the assembly of its new long-distance aircraft. It is known that a 200-MW plan cost $100 million 20 years ago when the approximate cost index was 400, and the cost i..
Recently, the owner of a Trader Joe's franchise decided to change how she compensated her top manager. Last year, she paid him a fixed salary of $65,000, and her store made $120,000 in profits (not counting payment to her top manager). She suspec..
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