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Based on the best available econometric estimates, the market elasticity of demand for your firm’s product is -2. The marginal cost of producing the product is constant at $275, while average total cost at current production levels is $360.
Determine your optimal per unit price if:
a. You are a monopolist.
b. You compete against one other firm in a Cournot oligopoly.
c. You compete against 19 other firms in a Cournot oligopoly.
Besides your pricing decisions, what are your suggested nonpricing strategies? What nonpricing strategies will you use to increase barriers to entry?
Pepsi uses advertising to create the impression that Pepsi is superior to any other soft drink. Pepsi is attempting to:
abc computer company has a 20000000 factory in silicon valley. during the current year abc builds 2000000 worth of
Social responsibility other than to make as much money for their stockholders as possible. Explain why you agree or disagree with such a statement.
If the output from a land source brings revenue of $400, transport costs of shipping this output to market are $55 and the land used in production is 4 acres, what will the rent for this land be? If you can’t solve this problem, state why it is not p..
At the beginning of the year, an audio engineer quit his job and gave up a salary of $ 175,000 per year in order to start his own business, Sound Devices, Inc. The new company builds, installs, and maintains custom audio equipment for businesses that..
Due to a recession, demand for housing market decreases. Will this shift labour supply curve, demand curve or both. How will this affect wages and number of workers in home construction.
In the country of Wiknam, the velocity of money is constant. Real GDP grows by 3 percent per year, the money stock grows by 8 percent per year, and the nominal interest rate is 9 percent. What is the growth rate of nominal GDP, the inflation rate, th..
The Hilltop Coffee Company is a perfectly competitive firm producing where MR = MC. The current market price of a tall café latte is $5.00. Hilltop sells 200 tall café lattes. Its AVC for coffee lattes is $8.00 and its AFC is $3.00. What should Hillt..
Find out the optimal crude oil allocation in the preceding example if the profit associated with fiber were cut in half, that is, fell to $.375 per square foot.
Is the output produced sufficient to cover the factors of production when production is under: i) constant returns to scale (CRTS), ii) increasing returns to scale (IRTS) and iii) decreasing returns to scale (DRTS)?
In a few sentences, what effect does the current supply and current demand have on this product.
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