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The following equation represents the weekly demand that a local theater faces. Qd = 2000 - 25 P + 2 A, where P represents price and A is the number of weekly advertisements. Presently the theater advertises 125 times per week. Assuming this is the only theater in town, and its marginal cost, MC, is equal to zero, a. Determine the profit maximizing ticket price for the theater. b. What is the price elasticity of its demand at this price? c. What is the elasticity of its demand with respect to advertising? d. Now suppose the theater increases the number of its ads to 250. Should the theater increase its price following this ad campaign? Explain.
What are the demand and supply curves for this economy? Calculate the equilbrium price and quantity and calculate surplus /shortage at price of $24.22 and $20? What would be the total revenue for the supplier at the equilbrium?
Consider now an economy where you need to search for a job. Let b be the function of people that do not have a job and are searching for one. Here active population and working age population do not coincide. Write the equation describe the dynamics ..
Which method is more likely to be technically efficient. Illustrate what is the probability that she wins.
Suppose that annual income from a rental property is expected to start at $1,000 per year and increases at a uniform amount of $50 each year after the first year for the 10-year expected life of the property. Assume an interest rate of 10%/year. Assu..
European retailers utilize a wide variety of government regulations to restrict entry.
The U.S. cigarette industry has negotiated with Congress and government agencies to settle liability claims against it. Illustrate what effect will this have on its optimal price.
Use the IS-LM model to predict the short-run impact on the interest rate and output if the central bank pushes interest rate down at the same time that both consumption and investment fall due to a financial crisis.
Firms can shift their marginal cost curves to the right, resulting in higher outputs at the same or lower maximum-profit prices. This can be done by
Many argue that breaking up a monopoly is a Pareto-efficient change. This interpretation cannot be so because breaking up a monopoly makes its owners (or shareholders) worse off. Do you agree or disagree.
Given the expected price level, policies for reaching potential GDP will work best if the funds provide.
Own price elasticity of demand for clothes is -2 and cross price elasticity of demand between clothes and shoes is -0.5. if the store increases the price of clothes by 5%, what will be the change in revenue?
In the market for tacos, explain the impact on the demand curve, supply curve, or both. If the market started in equilibrium, determine if the new market equilibrium price and quantity are above, below, or indeterminate with respect to the starting e..
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