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Suppose that you are hired as consultant to a firm producing a therapeutic drug protected by a patent that gives a firm a monopoly in two markets. The drug can be transported between the two markets at no cost. The demand schedule in the first market is Q1=100-0.5P1, where P1 is the price of the product and Q1 is the amount sold in the market. In the seconds market, the demand is Q2=140-P2, where P2 is the price of the product and Q2 is the amount sold in the market. The firm's overall marginal cost is MC=20+Q1+Q2. What price(s) should the firm charge in these markets? What will be firm's profit?
Find any differences in the set of variables used in a regression model of demand for customer durable and a regression model of the demand for fast moving consumer goods
Explain how you could make a profit from this situation. What would be your profit per bushel of rice If other people exploit the same opportunity, what would happen to the price of rice in Japan and the price of rice of rice in the United States..
Agri-Beef Inc. operates cattle feed lots in several midwestern states. The company wishes to estimate the average daily weight gain of cattle on their lots. To do this a simple random sample of cattle is taken and the daily weight gain is recorde..
Suppose the ratio of deposits that banks hold in the form of reserves is 7 percent. Suppose further that people want to hold 8 percent of their deposits in the form of cash. Then if the fed wants the money supply to be $6,228 billion, what is the ..
The cost, demand and revenue functions have been determined By Delta and given below. The total amount of widgets sold in the market by all producers, including Delta's sales, is 238 units. Delta's current p..
The given information is the quarterly sales of gasoline in the U.S. in millions of barrels during part of the 1980s and the 1990s. Determine the linear trend and use it to forecast sales for first quarter of 1992.
A firm has a production function Q=F(K,L) with the constant return to scale, where k is units of capital and L is unites of labour.Imput prices are r=$2 per unit of K and w=$1 per unit of L.When it produces 5 units of output,it uses 2 units of cap..
The price elasticity of demand for a firm's product is equal to -1.8. the firm currently sells 4,000 units per day at a price of $2. if the firm increases its product price by 10%, then how much can it approximately sell
Find the firm's marginal production function exhibit diminishing marginal returns to labor? explain b. Capital is r=$5 per unit and that labor costs w=$20 per unit. What is the cost of producing q=100 units of K and 100 units of L? c. What is the m..
.determine the amount of slack or surplus for each constraint (dont worry about this problem it has been emitted from the homework but if you can help me to understand this I would greatly apprecaite it) suppose the objective function is changed to..
What is the equilibrium level of income? Is there an inflationary or a deflationary gap? Why? What is its magnitude? What is the value of the government expenditures multiplier? What is the value of G that would move the economy to full employment ..
a. Fill in the column of marginal products. What patent do you see? How might you explain it? b. A worker costs $100 that day, and the firm has fixed cost of $200. Use this information to fill in the column the total cost. c. Fill in the column for a..
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