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Each month, an airline sells 1,500 business-class tickets from London to Paris at $200 a ticket, and 6,000 economy-class tickets at $80 a ticket. Use this information to construct the demand curves of business travelers and tourists respectively, if it is given that the demand curves for both groups are linear and that the marginal cost of a ticket is constant at $50.
what is the break even price What is the shut-down price What if cable was currently $70.00 and was lowered to $40.0, how large is the price effect How large would be the quantity effect be What is the profit maximizing qunatity and price for cabl..
An electric motor is 10HP. Motor A costs $800, and is 85% efficient. Motor B costs $1200 and is 90% efficient. Both motors will operate 1,500 hours at an energy rate of 0.07 per kilowatt hour. Both motors have a 15 year life span.
Two alternate schemes are proposed for heating this building. "Bottled gas" can be used for floor type furnaces, or electric radiant panels can be installed in the walls and ceiling. It is estimated that the building will be used for 5 years befor..
An incumbent firm, Firm 1, faces a potential entrant, Firm 2, with a lower marginal cost. The market demand curve is p=120-q1-q2. Firm 1 has a constant marginal cost of $20, while Firm 2's is $10.
Utility function: U(x,y) = x^1/2 + y A) graph a typical indifference curve, choose a level of utility and draw various combinations B) write marginal utility of x and y C) give marginal rate of substitution
Assuming that the demand is D(P) = 100 - 2P. The regulator chooses average cost pricing. Compute how many firms can efficiently serve the market and the total amount Q produced. (Hint: It suffices to compute the price at the efficient production l..
Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:
Suppose the government imposes a price ceiling of $50 on a market characterized by the following information:Qd = 700 - 2P Qs = 100 + 4P Calculate the magnitude of deadweight loss from the price ceiling.
The mayor decides how long each fireworks show will last each year. This year, she has a new plan: each of the 20 town citizens will send in their marginal utility of a minute of fireworks to the mayor who will then compute the optimal amount of fi..
An investor deposits $30,000 annually at the end of each year for the next 15 years. At the end of the 16th year he starts to withdraw a geometric series of 20 annual payments, each 5% larger than the previous one. If the first payment is $50,000
Find the equilibrium level of real GDP for Smallville. Note: you will have to solve a quadratic equation - and GDP cannot be negative, for obvious reasons. Y = AD (equilibrium condition) T = 1,200 (taxes - non-income)
In solving the problem,when your taxable income lies exactly on the border of the 22% bracket ( so that adding one dollar takes it to the beginning of the net bracket), choose the next bracket i.e. 26% as the marginal rate for your federal tax, t..
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