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A small college has space for a maximum of 1,000 students. The college can identify 500 of its students who are willing to pay $20,000 per year and 500 students who are willing to pay $10,000 per year. The college has annual fixed costs of $10 million, and the variable cost for each additional student is $5,000. To continue operating, the college must receive payments equal to its total costs (that is, total fixed costs + total variable costs).
Discuss an industry that would meet the conditions of a perfectly competitive industry and how the individual firms would respond to an increase in the market demand for the product.
Ignore the time value of money and compute the optimal pricing scheme of the iphone, Suppose that there are equal numbers of each customer type, and that the MC of the iphone is $100.
Illustrate what can you conclude about the structure of the industry in which this firm is operating.
Hypothetical cost and revenue curves for a computer producer. Illustrate at what price will the monopolist sell each computer.
Elucidate its advantages and disadvantages and suggest appropriate policy prescriptions to deal with the potential shortcomings.
Explain how would each of these traps impact the production possibilities frontier.
A manufacturer has been selling 1600 television sets a week at 370 dollars each. A market survey indicates that for each 36 dollars rebate offered to the buyer, the number of sets sold will increase by 60 per week. Find out the demand function.
Discuss Explain how "Game Theory" can be used to improve strategic decision making in competitive situations.
Elucidate the inelasticity of agricultural products in general then compare which to the elasticity of a single food item such as a filet minion.
Assume that society changed as well as encouraged both young women as well as young men to consider a wide range of careers.
What is the relationship between the marginal rate of substitution between leisure as well as labor as well as the marginal product of labor in the RC model.
Explain how many hours of leisure does she consume. How many dollars of consumption does she consume.
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