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In Bayonne, New Jersey, there is a large beauty salon and a number of smaller ones. The total demand function for hair styling per day is Q = 180 - 10P, where P is in dollars. The marginal cost function of all the small salons together is SMCF = 4 + .1Q, and the marginal cost function of the dominant or leading salon is MCL = 7 + .1Q. (b) Determine the best level of output and price for hair styling for the dominant salon operates as the price leader. How many stylings will the large salon supply per day? How many will the small salons supply together?
A researcher is interested in estimating the salary of management majors. it is known that the population of salary offers is normally distributed with a standard deviation of 4(in thousands of dollars). the sample yields a sample mean of 50. 1. c..
What is the equilibrium level of income? Is there an inflationary or a deflationary gap? Why? What is its magnitude? What is the value of the government expenditures multiplier? What is the value of G that would move the economy to full employment ..
What is the four-firm concentration ratio for this industry? ___74%_ b) What is the eight-firm concentration ratio for this industry? _____98% Suppose that the distribution of sales within an industry is as shown in the table.
WHAT FUTURE AMOUNT OF MONEY WILL BE ACCUMULATED 10 YEARS FROM NOW BY INVESTING $1000 NOW PLUS $2000 FIVE YEARS FROM NOW AT 6% INTEREST COMPOUNDED SEMI-ANNUALLY
Assume the following about Mushroom Kingdom: there are 16869 gold coins in circulation, nominal GDP is 86722 gold coins, the Central Bank of Mushroom Kingdom increases the number of gold coins in circulation by 2.4% each year, and GDP increases by..
Like Physical capital, human capital produced in the present can be applied to the production of future goods and services. consider the table in Problem, 2-11, and suppose that the nation's residents are trying to choose between combination C and..
Suppose a monopolist faces the following demand curve: P = 596 - 6Q. Marginal cost of production is constant and equal to $20, and there are no fixed costs. a) What is the monopolist's profit-maximizing level of output? MR = (P-MC)*Q MR = (596 - 6Q -..
a. Jack consumes two goods: food and leisure. He works for 8 hours per day and earns a wage of $8 dollars per hour. His rich uncles also give him around $20 per day. Illustrate Jack's choice of work and leisure using an indifference curve and a b..
If the ratio of currency to transaction deposits is 2, the ratio of nontransaction deposits to transaction deposits is 5, the ratio of retail money-market funds to transactions deposits is 1, the ratio of required reserves to transactions deposits..
Assume you have the following model of the expenditure sector: Sp = C + I + G + NX C = 400 + (0.8)YD Io = 200 G = 300 + (0.1)(Y* - Y) YD = Y - TA + TR NXo = - 40 TA = (0.25)Y TRo = 50 What is the size of the output gap if potential ou..
Elizabeth Pie Company has been in business for 50 years and has developed a large group of loyal restaurant customers. Giant Bakery Inc. has made an offer to buy Elizabeth Pie Company for $5,000,000. The book value of Elizabeth Pie's recorded asse..
find the Hicks-compensated demand function of the following utility function: u(x1,x2) = x1.x2 + x1 I have found Marshall demand function, but I doubt how I find the Hicks-compensated. Is there anyone who can help me with that?
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