Reference no: EM131040187
1. The demand for fashion watches is Q = 9 - 0.7P + 2I. Assume that per capita income I is $13. When the price of fashion watches is P = $30, the price elasticity of demand is
A. -0.66.
B. -1.0.
C. -2.0.
D. -0.5.
E. -1.5.
2. Jane spends $210 per month on wine and beer. Her utility function is given by TU = 100WB, where W represents the number of bottles of wine that she buys and B represents the number of cases of beer that she buys. If wine costs $10 per bottle and beer costs $15 per case, she will maximize utility by buying
A. 10.5 bottles of wine and 7 cases of beer.
B. 2 bottles of wine and 3 cases of beer.
C. equal amounts of wine and beer.
D. 10 bottles of wine and 13.33 cases of beer.
E. none of the above.
3. Camel Records produces records according to Q = 4L - 0.15L2. If labor costs $5 and records sell for $2, the optimal quantity of labor is
A. 0.
B. 2.
C. 10.
D. 5.
E. 17.
4. A representative firm with short-run total cost given by TC = 50 + 2q + 2q2 operates in a competitive industry where the short-run market demand and supply curves are given by QD = 1,410 - 40P and QS = -390 + 20P. Its short-run profit maximizing level of output is
A. 0 units.
B. 1 unit.
C. 2 units.
D. 5 units.
E. 7 units.
5. Henry's Hosiery has exclusive rights to sell Yves Chevrier lingerie in the United States. The demand for Yves underwear faced by Henry is given by Q = 250 - 0.5P. Henry's costs are given by TC = 50Q + 5.5Q2. Its maximum monopoly profits are
A. $6,750.
B. $7,050.
C. $7,500.
D. $7,750.
E. $8,750.
|
Social network media or mainstream advertising media
: Who really has the power—social network media or mainstream advertising media? What is meant by “traditional advertising messages interrupt the consumer and present a product-focused one-way spin in their messages”?
|
|
Federalism and gun control
: Federalism and Gun Control: How does the nature of U.S. federalism make it difficult, to the point of being almost impossible, to have any kind of comprehensive gun control?
|
|
Unbiased research is conducted and shared with the public
: Do you think that Universities should be the primary place where "unbiased" research is conducted and shared with the public and with government officials, or do you believe that "Think Tanks" and similar organizations can do an equally-good or even ..
|
|
Two firms is more vertically integrated
: Which of the following two firms is more vertically integrated? How can you tell? Firm A has included manufacturing, sales, finance, and human resources within its boundaries and has outsourced legal and customer service.
|
|
Price elasticity of demand
: 1. The demand for fashion watches is Q = 9 - 0.7P + 2I. Assume that per capita income I is $13. When the price of fashion watches is P = $30, the price elasticity of demand is
|
|
How has the issue impacted the health care industry
: Describe an emerging ethical issue, such as in vitro fertilization, surrogate motherhood, sterilization, abortion, genetic counseling, euthanasia, or medical marijuana.
|
|
Relationship with stakeholders at expense of shareholders
: Companies have a chance of maximizing profits. A company that optimizes profits is willing to promote better relationship with other stakeholders at the expense of shareholders. If you were to open your own company, explain which approach you would t..
|
|
Example of linear programming-technological coefficient
: Will you give me an example of a linear programming example in which there is a change in in technological coefficient that can affect a problem's optimal solution and an example in which a change of resource availability affect a solution?
|
|
Examine relationships in the roof of the house of quality
: Examine the relationships in the roof of the House of Quality. Explain why they do or do not make sense. How would this assessment help in the design activity? Make markings on the diagram.
|