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You are the manager of a monopoly, and your demand and cost functions are given by P = 200 - 2Q and C(Q) = 2000 + 3Qsquared, respectively.
a. What price-quantity combination maximizes your firm's profits?b. Calculate the maximum profits.c. Is demand elastic, inelastic, or unit elastic at the profit-maximizing price-quantity combination?d. What price-quantity combination maximizes revenue?e. Calculate the maximum revenues.f. Is demand elastic, inelastic, or unit elastic at the revenue-maximizing price-quantity combination?
Now suppose the same game is played with the exception that Player A moves first and Player B moves second. Using the backward induction method discussed in the online class notes, what will be the outcome of the game
To ensure that correct size of heart valve is available for heart surgery, Heart Plus, maker of valves employs salespeople to place and maintain inventories at hospitals in its market.
Estimated market shares for the cellular phone manufacturing market are given in the table below. If Samsung were to merge with Sanyo, the four-firm concentration ratio would be Firm Market Share Nokia 36% Fujitsu 3% Kyocera 3%
Joe sells vacuums. Given the demand for vacuums at P= 15 - .001Q. Joe faces constant cost of $3 per vacuum and $5,000 fixed cost. What is the dead weight loss given profit maximized out put is 6,000 units and rpice 9$
Suppose that a firm comtemplating entering the market for breakfast cereal would need to invest $100 million in a production plant (or about $10 million annually on an amortized basis). Such a plant could produce about 100 million pounds of cereal..
Nucor Corp manufactures generator coolers for nuclear and gass turbine power plants. The company completed a plant expansion through financing that had a debt/equity mix of 40-60. If %15 million came from mortgages and bond sales, what was the to..
what would an LM curve look like in a Quantity Theory world where velocity is fixed and is not impacted by interest rates (that is, M=kPY) what do you think would drive interest rates in such an environment
The Ajax Manufacturing Company wishes to choose one of the following machines. Machine 1 Machine 2 Machine 3Initial cost $12,000 $15,000 $21,000 Planning horizon 5 years 5 years 5 years Salvage value $1200 $2,000 $3,000Revenue years 1,..,k $3,000 +50..
Next, assume you paid $700 in interest on your student loans last year, put $2,000 into a health savings account (HSA), and deposited $5,000 into an individual retirement account (IRA). These expenditures are all tax exempt.
Both are normal goods for him; each DVD costs $10 and each cup of iced tea costs $2. For each of the following situations, decide whether this is Steven's optimal consumption bundle. If not, what should Steven do to achieve his optimal consumption..
In the last month, the price of gasoline increased by 20%. Your job is to determine what caused the increase in price: a change in demand or change in supply. Ms. Info has all the numbers associated with the gasoline market and she can answer a si..
Gina was in a garage band when she was in high school, and the only time they could find to practice was on Saturday morning (much to the dismay of her neighbors.) Suppose the band received $49 in internal benefit (i.e., happiness) from practicing..
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