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Consumer Surplus: Equations. Eric Cartman likes to rent computer games on DVDs from a local
Blockbuster outlet in South Park. Cartman's DVD rental demand curve can be written:
QD = 5 - 0.2P
where QD is the number of DVD rentals and P is the rental price per month.
A. Plot Cartman's DVD rental demand curve, using price as a function of the quantity demanded.
B. Use the demand curve to help you calculate the number of DVDs rented per month and the amount of consumer surplus derived at a rental price of $5.
"A substantial number of relatively unskilled persons reported that they can't find work. At the same time, there're many unfilled jobs for relatively skilled people. Apparently, the problem is that there're more unskilled peop..
Suppose, in a given week, float raises $900 million, Treasury deposits at the Fed rise $1500 million, discounts and advances decline $200 million, and foreign deposits at the Fed increase $150 million.
Agree or disagree and describe: In monopolistically competitive market, firms that innovate successfully can increase their economic profits and lock in higher market shares over long run.
At the management luncheon, two managers were overheard arguing about the following statement: "A manager should never hire another worker if the new person causes diminishing returns". Is this statement correct? If so, why? If not, explain why no..
In 1991, Brazil and Columbia united to form a coffee cartel and reduce coffee output. Suppose total costs for the cartel are: TC = 12 + 5Q + Q 2
D&Z Dry Foods Distributions specializes in the whole distribution of dry goods, such as rice and dry beans. The firm's manager is concerned about an article he read in the morning's Wall Street Journal
There are 10 identical firms that have the common cost function c(y) = y 2 + 9. The industry demand function is given by X (P) = 200/
As the manager of Pelican Point Financial Group, you are unable to determine whether any given individual is a high or low volume transaction investor. Design a self-selection mechanism that permits you to identify each type of investor.
Calculate the expected level of demand in a typical market. Indicate the range within which actual demand is expected to fall with 95% confidence.
A monopolist has a constant marginal and average cost of $10 and faces a demand curve of Q D = 1000 - 10P. Compute the monopolist's profit-maximizing quantity, price, and profit.
A symetric information can have deleterious effects on market outcomes. Discuss a few tactics that managers can use to overcome these problems.
Explain why Brownstown's management was reluctant to release this information to its lenders.
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