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Administrators at a university are considering to offer a summer seminar. It costs $3000 to reserve a room, hire an instructor, and bring in the machine. Suppose it costs $25 per student for the administrators to provide the course materials. If we know that 20 people will attend, what price should be charged per person to break even?
A portfolio manager is being evaluated based on the time-weighted average rate of return. If the manager had achieved annual returns for the past three years of 2.5 percent, 14.5 percent and 9 percent on one initial investment of $500,000,
Let the production function be given through, Assume the plant size (K) is fixed in the short run at 100.
A company is practicing 1st degree price discriminaiton. The demand for the company's product is defined as QD = 20-2P. If the firm maximizes profits by selling 4 unites of output
The Alex Corporation uses two inputs, A and B, to produce boats. The production function for boats is given through
"A characteristic of oligopolistic market is that, once the general price level is established it tends to remain fixed for an extended period of time." Discuss the economic rationale underlying this phenomenon.
Assume the market price of sugar is twenty-two cents per pound. If a sugar farmer produces 100,000 pounds, the marginal cost of sugar is 30 cents per pound.
If a production function is given through the equation Q=12X+ 10x2- x3 where X= input and Q=output then provide the computation for average product.
Monopoly with two production plants and cost functions of C1 = 50 + 0.1 Q1^2 and C2 = 30 + 0.05 Q2^2. Compute the profit maximizing level of output
Determine what is the relationship between productivity and the wages earned by an employee? What are some factors that determine the level of your income?
Explain why is advertising prevalent in many oligopolies, especially when industry demand is inelastic and illustrate your answer by supposing that with advertising, a company demand curve has price elasticity of -1.5 and without advertising,
Assume the Kalamazoo Competition free Concrete's demand function is D=5,000-50P, its marginal cost is 40 dollar per cubic yard,
Some of the electric generating plants of Tennessee Valley Authority are powered by coal. Coal is bought by a separate procurement division and is transferred to plants for use.
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