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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 Number of Crossings, in Thousands$8 0$7 100$6 200$5 300$4 400$3 500$2 600$1 700$0 800
a. If the company were to build the bridge, what would be its profit-maximimizing price? Would that be the efficient level of output? Why or why not?b. If the company is interested in maximimzing 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.
What is the sample standard deviation of weights and calculate the change in weight
Rubax, a United States producer of athletic shoes, estimates the following linear trend model for shoe sales:
What is the four-firm concentration ratio for this industry? ___74%_ b) What is the eight-firm concentration ratio for this industry? _____98% Suppose that the distribution of sales within an industry is as shown in the table.
what unemployment rates would we expect to see in this economy?b. Consider another economy in which the unemployment rate over the next three years is 6%, 7%, and then 4%. According to Okun's Law, what are the levels of short run output (Y tilde) ..
There are two invididuals. The first (individual A) has the utility function \(u^{a} = x_{1}^{2} + x_{2}^{2}\) , x>=0, and endowment (1,2). The second (individual B) has utility function \(u_{b} = x_{1} + ax_{2}\) , a>0, x>=0, and..
If he invests $100 monthly, how much will be in the retirement fund in 25 years if it averages a return of 5.5% APR with monthly compounding. Another retirement fund offer 6% EAR with monthly compounding. What would the value of this be ..
The supply curve for product X is given by QXS = -340 + 10PX . a. Find the inverse supply curve. P = + Q b. How much surplus do producers receive when Qx = 350? When Qx = 1,000?
Walt Disney World Theme Parks offer tourists a wide variety of ticket options. The one thing these ticket options have in common is that they entail a fixed entrance fees and permit consumers to take as several rides as they wish at no additional cha..
Owen runs a delivery business and currently employs three drivers. He owns three vans that employees use to make deliveries, but he is considering hiring a fourth driver. If he hires a fourth driver, he can schedule breaks and lunch hours so all thre..
Calculate the points on the aggregate demand curve when the price level equals 0.75, 0.80, 1.00, 1.20, 1.25, and 1.50. Compute the price level and real GDP in periods 1-6. Describe the cyclical behavior of real ..
Explain what happens to the coefficient on coll in terms of its magnitude and its statistical significance when points , rebounds , and assists are added to the regression. Why do you think this happened?
A corporation is interested in knowing which potential sales are next year if you use $20,000 in advertising expenses. The corporation uses the data from previous years to make its sales forecast.
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