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KopyKat is a firm that specializes in printing business cards and résumé’s, using the latest laser technology. The manager has estimated that weekly demand can be approximated by P = 25 – 0.001Q, where P is price and Q is output per week. The firm’s cost function is C = 25,000 + 13Q + 0.002Q^2 , where C is total cost. (MR = 25 – 0.002Q; MC = 13 + 0.004Q) (a) Determine the firm’s profit maximizing price and output. (b) The night supervisor believes that extending KopyKat’s hours by two hours in the evening would substantially increase volume. The manager is willing to stay open for two hours over the next three months as an experiment. What results would lead the manager to decide if the store can remain open later in the evening on a permanent basis? (c) A former employee decides to sue KopyKat, alleging employment discrimination. Although management claims innocence, they agree to settle out of court. The settlement requires KopyKat to pay the employee $10,000 per month for the next year. Determine the optimal price and output for the firm under these new conditions.
How much profit does each firm earn. Ignoring antitrust considerations, would it be profitable for your firm to merge with Fasten It If not, explain why not; if so, put together an offer that would permit you to profitably complete merger.
The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table.
Elucidate proponets of free market systems argue that free enterprise leads to more efficient production and better responses to changing consumers preferences.
Illustrate what happens to the marginal product of each individual factor as that factor is increased, and the other factor is held constant.
The airline is considering building a new training center on this land.
Elucidate how the effect of this graph on the country's production possibility frontier. Explain Illustrate what occurs in the graph.
the shortcomings of NAFTA for the last 20 years including what each country has lost as a result of NAFTA.
How could a company go about meeting those needs and thus motivate you to work better and harder.
Joe is an empire builder". That is, his goal is to produce and sell as much as possible. Show that Joe's output is a decreasing function of all input prices.
Estimate the deadweight loss from monopoly. Assume, in addition to the costs above, the musician on the album has to be paid. The company is considering four options.
Imagine that you were the president of an emerging country that is trying to reduce the number of its imports
Do you think the industry environment is significantly different today explain.
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