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You are the owner of a local Honda dealership. Unlike other dealerships in the area, you take pride in your "No Haggle" sales policy. Last year, your dealership earned record profits of $1.7 million. In your market, you compete against two other dealers, and the market-level price elasticity of demand for midsized Honda automobiles is -1.8. In each of the last five years, your dealership has sold more midsized automobiles than any other Honda dealership in the nation. This entitled your dealership to an additional 25 percent off the manufacturer's suggested retail price (MSRP) in each year. Taking this into account, your marginal cost of a midsized automobile is $11,000.
What price should you charge for a midsized automobile if you expect to maintain your record sales? Instruction:
Round your answer to two decimal places. $
Solve the firm's short-run cost-minimization when capital is fixed at a quantity of 5 units (i.e. K ? = 5). Derive the equation for the firm's short-run total cost curve as a function of quantity Q and graph it together with the long-run total co..
Your company has a customer who is shutting down a production line, and it is your responsibility to dispose of the extrusion machine. The company could keep it in inventory for possible future product and estimates that the reservation value is $250..
Provide examples of two industries with different time frames for the short run. Clarify why this is the case.
Trade liberalization leads to a "race to the bottom" in environmental standards. Make the argument and counter-argument, present the following data;
q1. if the college puts a rent ceiling in rooms of 650 a month illustrate what is the rent and explain how many rooms
The elasticity of demand:
According to the traditional view, in what direction is the slope of the production function, with capital per worker on the horizontal axis and output per worker on the vertical axis?
Democratic Republic of the Congo grows at a healthy 3% per capita, how long will it take Democratic Republic of the Congo to catch up with Luxembourg.
Terrorist attacks foster instability and may affect productivity over the short and long term. Do you think the September 11, 2001, terrorist attacks on the World Trade Center and the Pentagon affected short- or long-term productivity in the United S..
Illustrate what mistakes did policymakers make that have kept developing nations from growing more quickly.
A recessionary expenditure gap in a mixed open economy can be measured as the extent to which cumulative expenditures
The market supply curve is the curve that summarizes:
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