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2. Suppose you are in charge of setting the price for commercial advertisements shown during Enemies, a top network television show. There is a 60 minute slot?for the show. However, the running time for the show itself is only 30 minutes.?The rest of the time can be sold to other companies to advertise their products or donated for public service announcements. Demand for advertising is given by:?Qi = 30 - .0002P + 26V where Qd = quantity demanded for advertising on the show (minutes), P = the price per minute that you charge for advertising, and V is the number of viewers expected to watch the advertisements (in millions). a. All your costs are fixed and your goal is to maximize the total revenue received from selling advertising. Suppose that the expected number of viewers is one million people. What price should you charge? How many minutes of advertising will you sell? What is total revenue?
Explain the law of diminishing returns in your own words. This idea can be applied to other concepts in economics. Think about your own utility from consumption. Give a personal example of diminishing utility.
Suppose a firm is producing 1,000 units of output. Its average fixed costs are $100. Its average variable costs are $50. What is the total cost of producing 1,000 units of output?
All of the questions in this Part refer to the market for gasoline. All questions are concerned only with the short run. Each situation is not related to the others. Analyze each question separately. Huge new crude oil reserves are discovered in th..
problem two plants production. a firm has two plants that produce the same good. the cost functions for the two plants
lg electronics plans to invest 30 trillion won by 2010 to make this happen hoping that the cost savings and reduction
Which of the following is NOT a condition for price discrimination? Different groups of consumers should be charged differing prices for the same product. The firm's demand curve should be downward sloping.
In short run, assume that all the costs [except film rental and concessions] at a theater are fixed, and that each theater can seat five hundred people per day, no more.
select one 1 of the following categories of products to research sports apparel automobiles home furnishings or
as a business owner you need to approach the issue of globalization and trade in context. with all the complicated
Why is the long-run aggregate supple curve vertical Explain the shape of the short run aggregate supply curve. Why is the short-run curve relatively flat to the left of the full-employment output and realively steep to the right
1. a. describe the four market types by writing a separate paragraph for each. in your response for each market type be
you have been hired as a consultant by your local mayor to look at the various market structures. your role is to
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