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A firm that sells e-books – books in digital form downloadable from the Internet – sells all e-books relating to do-it-yourself topics (home plumbing, gardening, and so on) at the same price. At present, the company can earn a maximum annual profit of $25,000 when it sells 10,000 copies within a year’s time. The firm incurs a 50-cent expense each time a consumer downloads a copy, but the company must spend $100,000 per year developing new editions of the e-books. The company has determined that it would earn zero economic profits if price were equal to average total cost, and in this case it could sell 20,000 copies. Under marginal cost pricing, it could sell 100,000 copies. In the short run, what is the profit-maximizing price of e-books relating to do-it-yourself topics?
At the profit-maximizing quantity, what is the average total cost of producing e-books?
State thes implified version of the problem in which the household chooses tomorrow's capital stock instead of today's investment .2 Given the Setup in 1.1, state the current value Lagrangian. .3 State the household's first-order conditions for cons..
Jesse and Kimberly recently graduated from college and are starting a family.they are just making ends meet with their $45,000 salary.what are some things they can do to their budget to find the money.
In the 1992 presidential elections, Ross Perot was speaking of NAFTA, which both of the other candidates (George H.W. Bush and Bill Clinton) supported. He made the statement about NAFTA ‘that giant sucking sound you hear will be your jobs being se..
A staff member proposes raising the payroll tax paid by firms and using part of the extra revenues to reduce the payroll tax paid by workers.
What is the Marginal Rate of Technical Substitution between labor and capital and what is the least cost method of producing the target level of output
How does the federal reserve have a high degree of instrument independence? If it has a specific mandate from Congress to achieve "maximum employment and low, stable prices," then how does the Fed have goal independence?
What was Morita drawing and what did he know about costing that the chain store representative was overlooking? Be sure to describe or chart the shape of Morita's costing sketch in your answer.
Calculate the arc price elasticity implied by the initial response to Z-Best's price increase and calculate the effective price reduction resulting from the coupon promotion.
Suppose the demand for a product is given by P = 60 - 2Q. The supply is given by P = 10 + 3Q. If a $10 per unit excise tax is levied on the buyers of a good, what will be the deadweight loss created by this tax.
utility if a function of income (I), given by: \(U = 101\) as long as I is less than or equal to 300. If I is greater than 300, your utility is a constant equal to 3,000. Suppose you have a choice between having an income of 300 with ce..
1. If interest rates or opportunity costs investment, happened to be the same in both developed countries and emerging economy nations, what could account for faster upward shifts in the latter group's planned investment functions 2. Are..
A machining process produces specialty metal parts used in aircraft. A particular part is designed to be 62 cm in length. The machine is set to cut at 62 cm but the process is stochastic with a mean length of 62 cm and a standard deviation of 0...
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