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2. The Ali Baba Co. is the only supplier of a particular type of Oriental carpet. The estimated demand for its carpets is Q=112,000 -500P + 5M The estimated total variable cost function, average variable cost function and marginal cost function of Ali Baba's carpets is: TVC=200Q-0.012Q2 + 0.000002Q3 AVC=200 -0.012Q + 0.000002Q2 MC=200-0.024Q + 0.000006Q2 Consumers' income per capita is expected to be $20,000 and total fixed cost is $100,000. a. How many carpets should the firm produce in order to maximize profit? b. What is the profit maximizing price of carpets? (2.5 points) c. What is the maximum amount of profit that the firm can earn selling carpets? d. Answer parts a thru c is consumers' income per capita is expected to be $30,000 instead.
Payments to the fund will be made quarterly, starting theee months from now. If the interest rate for the sinking funs is 8% compound quarterly, how much will each deposit be?
Suppose that unusually hot weather causes the demand curve for ice cream to shift to the right. Why will the price of ice cream rise to a new market-clearing level?
Both countries have the same rate of depreciation (5%). Use the Solow model to calculate the ratio of their steady state levels of income per capita, assuming ? =1/3. a) Verbally, interpret your answer. b) How would your result change if ? =1/2?
kean university professor henry saffer and wharton school of business professor dave dhaval estimated that if the
assume firm ys production function is given by the following cobb douglas equationq 0.5 x l0.6 x k0.5where l denotes
Determine the trade volume necessary for PBI to reach a target return of $7,500 per month for a typical office. Determine and interpret the elasticity of cost with respect to output at the trade volume found in part A.
As more potentially life-saving, but expensive drugs come to market, patients and insurance companies have difficult decisions to make. While in theory people would pay anything to save their own life or that of a family member, the efficacy of so..
In the final round of a TV game show, contestants have a chance to increase their current winnings of 1 million dollars to 10 million dollars. If they are wrong, their prize is decreased to $100,000.
The price elasticity of demand for health care has been estimated to be ?0.2. Characterize this demand as price elastic, unit price elastic, or price inelastic.
veronica has saved 5000 that will be a down payment on a new car that can be purchased for 38000.athe loan to finance
Speedy delivery is the package carrier which serves the Midwest It specializes in the delivery of auto parts to independent auto repair shops. It competes against very large firms like FedEx, UPS, and US Postal.
Outline a micro-economic reform issue that is relevant to the Australian economy market and how successful do you think these reform measures were and say why referring to some data or research that has been performed.
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