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A golf course operator must decide what green fees (prices) to set on rounds of golf. Daily demand during the week is: PD=36-QD/10 where QD is the number of 18-hole rounds and PD is the price per round. Daily demand on the weekend is PW=50-QW/12. As a practical matter, the capacity of the course is 240 rounds per day. Wear and tear on the golf course is negligible.
Can the operator profit by charging different prices during the week and on the weekend? Explain briefly. Illustrate what greens fees should the operator set on weekdays and how many rounds will be played? On the weekend?
Explicate fully why the monopolist will never select to operate where the demand curve is inelastic.
Compute the coefficient of variation for each project and Classify the preferred project according to this criterion.
The 2001 recession ended in November 2001, but the perception of "bad economic times" lingered into 2002 and 2003. What evidence do these graphs provide concerning the lingering perception of a recession.
Describe the benefits and risks entailed with an experimental approach to regression analysis.
Illustrate what is the Consumer Surplus in the market. Illustrate what is the Producer Surplus in the market.
If the exchange rate at the end of the year is 105 yens for a dollar then what would be the inflation rate be in the US.
they both can earn 10$ an hour they both have non-labor income of 300$ per week and they have 110 hours per week of non sleeping time. Who would works the most hours also how much do each of them make per week
Indicate how Ford's management should use this information to make sound strategic decisions.
Assuming that this is rational behaviour by profit-maximizing "firms" elucidate what economic factors may influence such behaviour.
Show the effects of an increase in the total factor productivity, z, on the Laffer curve, on the equilibrium tax rate, and on consumption, leisure, the quantity of labor supplied, and output.
Explain the connections between opportunity cost and the production possibilities frontier.
explain why a rise in the price of gasoline is likely to have more of an effect on consumers than a rise in the price of strawberry milk shakes.
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