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Consolidated Drugs, Inc. has spent $4 million developing and testing a new anti-aging drug. Management now estimates that it will cost $2 million to produce and market this new product. The present value of total revenue from all future sales of this drug is estimated to be $5 million. On the basis of these numbers, management is recommending dropping the project since costs will exceed revenues.
a.) Do you agree with this recommendation? Explain.
b.) The head of the accounting department indicates that if the product is produced and marketed, $4 million of corporate overhead expenses will be assigned to the product. Does this new information change your answer to (a) Explain.
If the price of manufactured goods rises to $6 bushel (a rise of 50%), the parity price of corn as well rises by 50% - to $4.50 in this hypothetical example.
Do the estimated coefficients have the required signs to yield a-shaped AVC curve? Discuss the significance using the p-values.
Explain the concept of externality. What does it have to do with the efficient allocation of resources?
Suppose that in a city there are 100 identical self-service gasoline stations selling the same type of gasoline.
For a perfectly competitive firm the price is $2 per unit. At this price the firm is producing and selling 10,000 units. It costs $1.50 to produce the last unit. Should the firm produce more? Less? Why?
Describe what effect an expansionary fiscal policy would've on the price level and real GDP starting from full employment equilibrium.
Suppose that a perfectly equal distribution of income existed in Disneyland. Which of the reccent residents would have the same income he or she has in present distribution?
Taxi fares in New York recently were increased by nearly 50%. Predict the effect on the price of taxicab medallions, the earnings of taxicab drivers and congestion in New York streets.
Assume that the soft coal industry is a competitive industry and it is in long run equilibrium. Now assume that the firms in the industry form a cartel.
Give the before-tax charcoal price and quantity exchanged. Give the after-tax charcoal price to buyers, the quantity exchanged, and total tax revenues.
This document shows evaluation of alternative approaches to analysing the effectiveness of public policy and Assess the impact of government policies on selected areas.
What money supply must the Bank of Canada set next year if it wants to keep the price level stable? What money supply must the Bank of Canada set next year if it wants inflation of the ten percent?
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