Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Bob's demand curve for movies is given Q = 10 - 2P
a) What is the price elasticity of demand at a price of 2? Is Bob's demand elastic or inelastic at a price of 2?
b) Assume that the price is 3. What is Bob's total expenditure on movies? What is the consumer surplus?
c) What is the price that maximizes Bob's total expenditure on movies? what is the price elasticity of demand at this price?
d) If the price increases from 1 to 2, does Bob's total expenditure on movies rise or fall? If the price rises from 3 to 4, does Bob's total expenditure on movies rise or fall?
You are the manager of a firm that produces output in two plants. The demand for your firm's product is P = 78 - 15Q, where Q = Q1 + Q2. The marginal cost associated with producing in the two plants are MC1 = 3Q1 and MC2 = 2Q2. What price should be c..
A small start-up company invested in a new plant with an initial cost of $10 million. Operating costs for the plant were $3 million per year for 7 years. There was a special one-time charge of $1 million in year 2 to correct unexpected equipment prob..
Assume that the market shares for antidepressants are as follows: Brand Market Shares Prozac 40% Paxil 25% Zoloft 25% others 10% (a) Calculate the Herfindahl-Hirschman Index (HHI) for the antidepressant market based upon these market share numbers.
An investment fund is established at time 0 with a deposit of 5000. 1000 is added at the end of 3 months, and additional 4000 is added at the end of 9 months. No withdrawal are made. The fund value, including interest, is 10675 at the end of 1 year. ..
Explain how China was able to maintain an essentially fixed exchange rate between its currency, the yuan, and the dollar from 1995 through 2005. Why would China have wanted to maintain this fixed exchange rate?
For a child i living in a particular school district, let voucheri be a dummy variable equal to one if a child is selected to participate in a school voucher program, and let scorei be that child’s score on a subsequent standardized exam. If you run ..
What is the bank instability problem. Understand the Bryant and Diamond models of bank runs. I want you to understand the quantitative logic of the problem. Explain the connection between the solution to the bank instability problem that we have adop..
Suppose the government intends the tax to reduce the consumption of some goods for example, cigarette or chewing gum. Illustrate what will determine the effectiveness of the tax in reducing consumption
Under the responsibility scheme proposed by the Hong Kong government, households will be charged for solid waste disposal. Is this charge justifiable from an economics point of view?
Continuing with the modified balance sheet with $40 million in Level 3 assets, assume the bank issues an additional $3 million in stock and sells $20 million of its Level 3 assets for cash through the government's troubled asset relief (TALF) program..
A consumer has the utility function U(x,y) = xα yβ , where x$0 and y$0 represent her consumption of goods X and Y, and α>0 and β>0 are exogenous parameters. Calculate the consumer’s elasticities of demand for X and Y. These elasticities may be functi..
Suppose that a public accounting firm plans to hire some accountants for tax season. What will happen to the marginal product of labor as the firm hires more and more accountants?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd