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In the following, let the market demand curve be P = 70 - 2Q, and assume all sellers can produce at a constant marginal cost of c = 10, with zero fixed costs.
a) If the market is perfectly competitive, what is the equilibrium price and quantity?
b) If the market is controlled by a monopolist, what is the equilibrium price and quantity? How much profit does the monopolist earn?
c) Now suppose that Amy and Beau compete as Cournot duopolists. What is the Cournot equilibrium price? What is total market output, and how much profit does each seller earn?
A construction company is considering changing its depreciation from the MACRS method to the historical SL method for a general purpose hauling truck. The cost basis of the truck is $100,000, and the expected salvage value for depreciation purpose..
Your final option is to achieve your inflation target using interest rate policy. Using the Fisher equation, compute the current nominal interest rate in your country. What nominal interest rate will allow you to achieve the inflation target?
Determine the profit maximizing price and quantity. At this price and quantity, calculate this monopoly's economic profits. d) Given this firm's level of economic profits, where must the firm's average total cost curve (ATC) and average variable c..
Assume we have a profitmaximizing firm for which P=17-Q, and TC=5Q=Q^2/2, where P is theprice of output Q, and TC is the total cost of production. 1. Suppose the firm behaved likea perfect competitor in the short-run.
Suppose that to overthrow the status quo, an alternative requires 70 percent or more of the vote. Which property of voting is violated? In many committees the chairman has the casting vote. Which property of voting is violated?
A foundry uses 3,600 tons of pig iron per year at a constant rate. The cost per ton delivered to the foundry is $145. It costs $92 to place an order and $18 per ton per year for storage. Find the minimum-cost purchase quantity.
Suppose a prot-maximizing monopolist is producing 800 units of output and is charging a price of $40 per unit.a. If the elasticity of demand for the product is $ 2, nd the marginal cost of the last unit produced. b. What is the firm's percentage mark..
suppose the inverse demand for a product is q ?p12 10.write the expression for the demand curve i.e. p fq.what kind
Professor Goodheart gives 3 midterm exams. He drops the lowest score and gives each student her average score on the other two exams. Polly Sigh is taking his course and has a 60 on her first exam. Let x2 be her score on the second exam
Suppose that a firm sells in a competitive market at a fixed price of $42.50 per unit. The firm's cost function is: C = 150 + 5Q. Determine the minimum quantity at which the can break even. Are there multiple break even points
What is the equivalent present value of the following series of payments: $7000 the first year, $6500 the second year, $6000 the third year, $5500 the fourth year, and $5000 the fifth year The interest rate is 10%, compounded annually.
Which of the following would be his best business options, depending on what he is willing to risk?
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