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The following are the inverse demand curve and MR curves for a monopolistically competitive firm. P = 1000 - 2Q MR = 1000 - 4Q Where P is the price of the product and Q is the level of production. For the 200th unit of Q, MR is equal to _______ and demand is price ____________. 200, elastic -200, inelastic 600, elastic -600, inelastic
Advertising can inform purchaser, but sellers must incur expenses to advertise. If so, advertising can result in higher prices to customers.
You need to hire some new employees to staff your start-up venture. You know that potential employees are distributed throughout the population as follows, but you can't distinguish among them: Employee Value Probability What is the expected v..
A petroleum geologist estimates that the present annual production of 300000 barrels of oil from a group of 10 wells will decrease as follows over a 19 year life: Years 1 - 4, 300000 barrels/year,, Years 5-10, 215000 barrels/year, 11-15, 125000 and..
A profit maximizing monopolist hires workers in a perfectly competitive labor market. Employing the last worker increased the firm's total weekly output from 110 units to 111 units and caused the firm's weekly revenues to rise.
Year Nominal GDP (in billions) GDP Deflator data (base year 2005) 2009 $14,256 109.8 1999 $9,353 86.8 What was real GDP in 1999 measured in 2005 prices? Round your answer to the nearest cent. What was the growth rate of real GDP from 1999 to 2009? R..
A company is going to upgrade it machinery. It costs $150,000 to buy the machinery and have it installed. Operation and maintenance cost are $1500 per year for the first 3 years and then increase by $500 per year for the machine's 10-year salvage ..
Refer to the simplified balance sheet for a bank and answer the following questions. Assets Liabilities Reserves $10,000 Deposits $70,000 Loans $66,000 Stockholder's equity $6,000 a. If the required reserve ratio is 5 percent, how much in excess rese..
Calculate the value of each of the following, before the tax and after the tax, to complete the table that follows: 1. The Equilibrium quantity produced Equilibrium Quantity (Millions of units) Before tax? After tax? 2. The equilibrium price consume..
a monopolist has marginal costs MC(Q)=2Q where Q is the total output (thus MC should be rewritten MC(q)=2(q1 + q2). The monopolis can sell the output on two seperate markets, which are protected from resale of goods.
Where Qx is the quantity demanded of Product X, Px is the price of X, Y is income, and r is the prime interest rate (given in decimals, e.g., 0.02 or 0.05) The standard error of each estimated coefficient is given in parentheses below it.
A 30 year bond has a face value of $1,000 and a coupon rate of 6%, interest payments are paid semiannually. If the maturity from now is eually years and the currsnt market rate for the same bond is 10% per year, compound semilannually. How much is..
while costs are expected to increase from $20,000 in year 1 by $10,000 each year. If there is no salvage value at the end of 5 years, what is the annual equivalent worth of the project assuming a MARR of 12%
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