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!
1. A small business which produces plastic vacuum-suction covers for round household dishes has a monopoly that is protected by a utility patent. The market demand curve for this product is estimated to be: Q = 6009 %u2013 25P where Q is the number of plate covers per year and P is in dollars. Cost estimation processes have determined that the firm%u2019s cost function is represented by TC = 120 + 2500Q -0.25*Q2.
(i) What is the profit-maximizing price and output level? Solve this algebraically for equilibrium P and Q and also plot the MC, D and MR curves and illustrate the equilibrium point.
(ii) What profit do you expect that the firm will make in the first year?
(iii) Do you expect this profit level to continue in subsequent years? Why or why not?
Defenders of communist economic systems may point out that consumers pay lower prices for certain goods because the government imposes a limit. Cite at least two other ways which consumers may be paying for these goods
Suppose that GDP is currently $25,000 and marginal propensity to consume is .50. If autonomous investment increases by $5,000, what will GDP be in new equilibrium.
Neither firm can choose which cell of the payoff matrix to obtain; the payoff for every firm depends upon the pricing strategies of both firms.
Japan's rapid growth pushed its real GDP per capita above that of the United States. Growth rates in follower nations such as South Korea and Hong Kong averaged about 10 percent per year.
Assume that all other banks hold only the required amount of reserves.
We said that an uncrowned country club golf course has aspects of public good.
These three empirical observations are explained by ‘Preferred Habitat theory'. First, completely explain Preferred Habitat theory. Next, explain how this theory explains all three empirical observations.
If the average employee compensation grew at the rate of 3.5% per year, explain how many years would it take for it to double.
Using the PPF analysis, explain what this means, the consequences of this behavior with regards to economic growth, and what the government could do to rectify the problem.
Suppose a nation picks 1000 young adults at random to serve in the army. Illustrate what information do you need to determine the cost of using these people in the Army.
what is the approximate real rate of interest. Illustrate the exact real rate.
a homeowner can insulate his house and save $50 each year in heating bills. If the interest rates are 6%, should the house owner insulate or not.
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