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Monopoly manager has the demand and cost functiones as P=200-2Q and C(q)=2000+3Q21- calculate the maximum profits?2- what price-quantity combination maximizes the profits?3- at the profit-maximizing price-quantity combination, what is the demand elasticity?4- what price-quantity combination maximizes revenue?5-calculate the maximum revenues?6- at the revenue-maximizing price-quantity combination, what is the demand elasticity is it elastic, inelastic or unit elastic?
Barry, a Texas Crude Company engineer who did not take Engineering Economy while studying at Tech, recommended that Texas Crude purchase a special tool to reduce the cost of pumping oil out of the bayous of St. Martin Parish. As a result of Barry'..
Compute the discount factor 1/(1+r)^t for r=1, 5, or 10 perent interest rates and t=30 and 50 years. remember that 1 percent is .01. based on your computation, is teh choice of discount factor important for deciding whether to do somehtinga bout..
The Solar Energy Company is producing electricity from a solar source by using a large array of solar cells and selling the power to the local utility company. Because these cells degrade over time, thereby resulting in lower conversion efficiency..
Explain what happens to the coefficient on coll in terms of its magnitude and its statistical significance when points , rebounds , and assists are added to the regression. Why do you think this happened?
Assume Wilbur's utility function is U=(x1)*(x2)*(x3). Further assume that the law dictates that Wilbur consume two units of X1 for every unit of X2. Determine Wilbur's demand function for good 1. Explain, in words, all the steps in your deriv..
Data for the market for graham crackers is shown below. Calculate the elasticity of demand between the following prices.Price of crackers Quantity Demanded (per month)$3 80 $2.5 120
A company is considering building a bridge across a river. The bridge would cost $2 million to build and nothing to maintain. The following table shows the company's anticipated demand over the lifetime of the bridge.If the company were to build t..
Provide an estimate of the cross-price elasticity of demand for gasoline, both with respect to new cars and with respect to used cars. Are these estimates statistically significant? Do they align with economic theory? Give an interpretation of y..
What is the sample standard deviation of weights and calculate the change in weight
Modifying a product to increase its "value added" benefits customers and can enhance supplier profits. For example, suppose an improved version of a product increases customer value added by $25 per unit. (In effect, the demand curve undergoes a p..
The purchasing manager for a firm is trying to determine what the safety stock should be for a particular product. She has developed the following table, which gives the distribution of demand during the lead-time and the probabilities.The carryin..
What is the equilibrium interest rate? d. What happens to the interest rate if the money supply increases from 20 to 30? Illustrate your answer graphically. What happens to the interest rate if nominal income increases by 10%?
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