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Panther Hall is a college dorm with 100 residents who each have the identical demand function for a pleasant community room, given by the equation MB = 1000 – 9.95Q. The marginal cost of maintaining the community room is MC = 1500 + 5Q, where Q = square footage of the room. The community room is a public good because all dorm residents have open access to the room. The dorm council is considering two plans to maintain the community room: (a) ask residents to voluntarily contribute to the maintenance of the room and (b) add the cost of maintaining the room to the dorm fee for each resident. If the council approves plan a, how much of the community room (in square footage) will each dorm resident be willing to care for on their own? If the council approves plan b, determine the optimal size of the community room and the total amount that each resident pays to maintain the community room?
Persons or organizations that agree to provide some funds for a new business in exchange for ownership interest or stock are called
Cousin Edgar is always thinking of the next business idea. This time, he plans to invest in buying two gas stations. He reckons American consumers have come to accept the high gasoline prices, and estimates world prices for gasoline to increase even ..
Ryan has $200 per week to spend on gas and food. The price of gas is $4/gallon and the price of food is $2 unit. What is the opportunity cost of an additional unit of food in terms of gallons of gas? What is the opportunity cost of a gallon of gas in..
q.differentiate between management and leadership.describe the role and responsibilities of leaders in creating and
Consider the following panel data fixed effects regression model: Yit = B0 + B1Xit + Y2D2+ Y3D3i + +...Y4Dni + eit
suppose that the carnival and the circus have both come to town and are both o?ering free admission. you have 6 free
Consider a perfectly competitive market for catfish. Fishers who catch catfish clean and package them before offering them for sale. The graph below shows the cost curves of a typical firm in the market.
q.suppose that the inverse demand curve for paper is p 200 - q. the private marginal cost is mcp 80 q and the
You have been asked to estimate the cost today of a 2,500 ft2 parking lot. You research and find that parking lots have a power-sizing exponent of 0.55 and that your company built a similar 1,000 ft2 lot 5 yrs ago that cost $50,000. You also find tha..
Assess the role of the Federal Reserve in mitigating the negative impact of the 2008 financial meltdown on the economy.
Discuss what happens to equilibrium price and sales. Explain why or why not this makes sense in the real world.
q. use the subsequent demand schedule to determine total also marginal revenues for each possible level of
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