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The cost of flying a passenger plane from point A to point B is $50,000. The airline flies this route four times per day at 7am, 10am, 1pm, and 4pm. The first and last flights are filled to capacity with 240 people. The second and third flights are only half full. Find the average cost per passenger for each flight. Suppose the airline hires you as a marketing consultant and wants to know which type of customer it should try to attract, the off-peak customer (the middle two flights) or the rush-hour customer (the first and last flights). What advice would you offer?
Describe the importance of Charles Darwin's trip to the Galapagos Islands in 1831. What were some of the key insights Darwin gained on this voyage? After the publication of On the Origin of Species, were his ideas immediately accepted? Do you t..
suppose that there are two products clothing and soda. both brazil and the united states produce each product. brazil
Cournot Revisited: Consider the Cournot duopoly model in which two firms
john operates a small business out of his home and has very little in terms of fixed costs. answer the next questions
Fluctuating and rising gasoline prices. Make your analysis on this topic and relate it to the US economy. Determine the three or four segments of our economy that are affected through fluctuating prices for gasoline.
A firm produces an output using capital and labor using the production technology described by f(xL; xK) = xLxK. Let w denote the price of labor and r denote the price of capital. Assume that w = $2 and r = $1.
Determine the rate of can rent capital and marginal productivity of labor at its new targeed level of output. To minimize the cost, the car company should hire capital and labor until the marginal rate of subsitution reaches what portion?
problem 1. suppose the market for oil is characterized by the demand p 7 - q where q is the total quantity supplied
during the past year the average price of lots along lake michigan in carol beach rose from 2500 to 3000 per foot of
Determine the equilibrium market price and the equilibrium market output level and determine the individual's firm's level of profit. Profit = TR - TC
explain how rent seeking can lead to a drop in production of goods and services. What role might the underground economy play in lessening the drop in productive activities?
U(X,Y) = X2Y. The consumer has $24 to spend and the prices of the goods are PX = $2 and PY = $4. Note that the MUX = 2XY and the MUY = X2.
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