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A company is considering building a bridge across a river. The bridge would cost $2 million to build and nothing to maintain. The following table shows the company's anticipated demand over the lifetime of the bridge:
Price per Crossing # of crossings, in Thousands
$8 07 1006 2005 3004 4003 5002 6001 7000 800
a. If the company were to build the bridge, what would be its profit-maximizing price? Would that be the efficient level of output? Why or why not?
b. If the company is interested in maximizing profit, should it build the bridge? What would be its profit or loss?
c. If the government were to build the bridge, what price should it charge?
d. Should the government build the bridge? Explain.
Before Sarah quit her job as a carpenter, she was earning $35,000 per year. She rented a building for $12,000 per year and opened a cabinet shop. She spends $148,000 per year for labor, materials, utilities, and advertising.
Recall from introductory economics that an raise of $1 in government spending may raise GDP through more than $1. The exact value by which GDP goes up is multiplier.
a factory benefits from discharging effluent q into a lake. the marginal benefit function is given by 60-2q. the
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introduction what is this report aboutwhy has it been writtenwhat will this report showwhat are socially desirable
Discuss a famous person, past or present, who you consider to be an example of a creative person in your field and discuss why.
In 2009, workers in the United States paid a social security tax equal to 6.2 percent of all wages earned until a cap of $106,800 was reached. After that, the tax rate was 0 percent. What kind of tax is the social security tax
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The widget industry is perfectly competitive. The industry demand and supply functions for widgets are given below. Qd = 424 - 40P Qs = 40 + 8Pa. What is the equilibrium price and quantity for the industry.
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