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6000 bottles of water are sold when the price is $3 per bottle. when the prices is $4 per bottle, 5500 are sold.
a) find the linear price equation where the price is p(x) and x represents bottles of water. set up table of (x,y) values showing your work.
b) find the best price to maximize the revenue.
q1. why do proponents of active policy recommend government intervention to close an expansionary gap? briefly
What is the difference between relative factor endowments and relative factor intensities? What does the Hecksher-Ohlin theorem say about home versus foreign countries while they remain in autarky?
The environment and healthcare are very important aspects of our lives, as discussed in your textbook. However, it is still unclear whether corporations should focus on these as rights or as privileges.
A company just purchased a new machine, which has a first cost of $320,000. Salvage is estimated at $75,000. Use both SL and MACRS depreciation over a 7-year recovery period, determine the depreciation charge and the book value for year 5,. Explain h..
Suppose that the U.S. the demand for phones is given by P=700-Q that the supply is given by P=200+Q. In Korea suppose the demand is given by P=600-Q and supply is given by P=50 + (Q/2). Please regard phones as a homogenous product. Prices are all in ..
Consider an exchange economy with two goods, good 1 and good 2, and two consumers, A and B. The preferences of the consumers can be described by a convex indifference curve. A’s initial endowment consists of 10 units of good 1 and 15 units of good 2,..
Assume the short-run aggregate supply curve can be expressed algebraically as: Y = 4,500 + 3,000π and the dynamic aggregate demand curve can be written as: Y = 5,000 – 1,000π. Find the numerical value for the short-run inflation rate? Find the numeri..
Suppose that a public accounting firm plans to hire some accountants for tax season. What will happen to the marginal product of labor as the firm hires more and more accountants?
You are the manager for Herman Miller, a major manufacturer of office furniture. You recently hired an economist to work with the engineering and operation experts to estimate the production function for a particular line of office chairs. What is th..
q1. identify the flaw in this analysis the demand for bread will fall if more americans go on a low diet. the cost of
If the Bill and Melinda Gates Foundation were to buy out and destroy the patent for Combivir, which of the following would NOT be one of the effects? Because Colgate owns patent number 5,544,091, only Colgate sells toothpaste with a flip top cap, whi..
The Snow City Ski Resort caters to both out-of-town skiers and local skiers. The demand for ski tickets of out-of-town skiers is given by Qo = 600 - 10 Po, while the demand for ski tickets of local skiers is given by Ql = 400 - 20 Pl . The marginal c..
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