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You are the manager of a firm that sells CD players and DVD players. You work in Buffalo, New York and this is the middle of winter. So the people that live within walking distance are the only customers you might get, and there are no other stores nearby. (FedEx and UPS can't get through the snow either, so don't think about these customers shopping online). You know that there are three different types of consumers who value your two products differently, but you are unable to identify these consumers individually at the time of the sale. Assume that the firm’s costs are zero. Also, assume that there is one consumer of each type. However, rs have the following valuations for the two products: Consumer Type DVD Player CD Player A $200 $500 B $700 $200 C $520 $0 a) If the firm sells the products separately, what price should it charge? How much profit will it earn? b) If the firm sells the two products as a bundle, what price should it charge? How much profit will it earn? Does bundling make sense here? c) Finally, suppose that the firm offers its consumers a choice. They can either buy the DVD player by itself for a certain price or they can buy the bundle at a different price.
What price should the firm set for the DVD player by itself? For the bundle? What profit will the firm earn using this strategy?
What is the quantity of magazines that needs to be sold per month in order for the operation to break-even and what will happen to that break-even quantity
Show what happens to producer surplus, worker surplus and the gains from trade as workers migrate from a low- wage to a high- wage region. What happens to wages and employment if the government imposes a payroll tax on a monopsonist? Compare the r..
Consider the following two alternative designs. Design A has an initial cost of $300,000 and net annual revenues of $55,000; Design B had an initial investment of $450,000 and net annual revenues of $80,000. A 10% MARR was used over the 10-year pl..
Externalities are 3rd-party consequence of some other action. They can be positive or negative externalities and they impose a benefit or cost to a 3rd-party.
On their way to their chosen resturant, they see that the Mexican and French resturants are closed, so they use a Borda count again to decide between the remaining two restaurants. Where do they decide to go now?
In the competitive market at a price of $50 and cost function of C=50+5Q2 find out the maximum profit? Show how the solution was reached.
Construct a numerical example to show that as marginal product (MP) rises, marginal cost (MC) falls. Explain your answer and use tables and graphs to illustrate.
What interest rate does she need to get to be able to retired as desired and compounded semi-annually, how much should be deposited now?
1. Why might federal spending on roads, waterways, or national security be less subject to direct expenditure off sets than spending on health care or education 2. What might account for the fact that estimates of effect time lags for fiscal polic..
Mention five ways you are affected on a daily basis by government intervention in the market. For what reason might government be involved? Is that reason justified?
Business proposal for your chosen good or service. Include assumptions about the elasticity of demand and the market structure for the good or service.
Constrained optimisation model
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