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A local video store estimates their average customer's demand per year is Q = 7 - 2P, and knows the marginal cost of each rental is 50 cents. How much should the store charge for each rental if it engages in optimal two-part pricing?
Assume that two companies (C and D) are duopolists that produce identical products. Demand for the products is given by the following linear demand function: P = 600 - Q^c -Q^d where Q^c and Q^d are the quantities sold by the respective firms
Your current wealth level is M=49, and you are forced to make the following wager: if a fair coin comes up heads, you get 15; you lose 24 if it comes up tails. Your utility function is U(X)=sqrt(X). What is the most you would pay to get out of the ..
Baby boomers can save up to $22,000 per year in a 401k account. If Eileen's starting balance at age 50 is $200,000 and she saves the full amount available to her, how much money will she have saved when she is 65 years old (after 15 years of savin..
Solve Tracy's problem of how often to go to the ATM when the nominal interest rate on her bank account is 10 perent, she spends $30 each day, it costs her $.50 each time she uses her ATM, and she thinks that there is a 15 percent chance.
You are given the data below for 2008 for the imaginary country of Amagre, whose currency is the G. Consumption 350 billion G Transfer payments 100 billion G Investment 100 billion G Government purchases 200 billion G Exports 50 billion G Imports ..
Assume that nominal income is $35,000 and the price index is 1.20 in year 1. In year 2, nominal income rises to $38,000 and the price index rises to 1.25. What was the percentage change in real income from year 1 to year 2? Make your calculations ..
Suppose that the current market price of VCRs is $300, that average consumer disposable income is $30,000, and that the price of DVD players (a substitute for VCRs) is $500. Under these conditions annual U.S. demand for VCRs is 5 million per year.
Modifying a product to increase its "value added" benefits customers and can enhance supplier profits. For example, suppose an improved version of a product increases customer value added by $25 per unit. (In effect, the demand curve undergoes a p..
Suppose that the most popular car dealer in your area sells 10 percent of all vehicles. If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car deal..
Given an economy that is described by the following equations: C=2,000+0.8(1-t)Y t=0.25 I=800-200i G=1200 L=0.2Y-100i M=45,000 P=150 What equation describes the goods market equilibrium
a. If the theater uses third degree price discrimination, what price will it charge for daytime tickets How many will be sold b. If the theater uses third degree price discrimination, what price will it charge for nighttime ticket How many will be ..
A demand curve is given by QD = 600 20P. Draw the demand curve. You don't have to draw to scale. Clearly show what happens on this demand curve when the price rises from $6 to $8. Label all appropriate points, as well as numerical values for pric..
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