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You sell consumer products in the Americas. The price sensitivity of South American consumers seems greater than for those in North America. An economic consulting firm has estimated the own-price elasticity for your most profitable product is -1.25 in North America and -1.50 in South America. Your marginal cost is constant at $75 across most of your production volume capability. What prices will maximize profits? Show the computation.
Develop a plan to propose taxes for your town, create a report in that what are the main factors that you will consider while selecting taxes to be imposed on Small Business Owners, Property Owners, and Individuals.
Consider the timing: The incumbent chooses whether to invest; then the entrant observes the incumbents investment decision; then the firms compete in prices. Show that in subgame perfect equilibrium (SPNE) the incumbent does not invest.
10 consumers, ranked by their value for a network product v = 1...10, are deciding whether to connect to the network. If there are n people on the network, including oneself, then a consumer's willingness to pay equals n x v. What is the highest pric..
Suppose people who are thinking about buying an existing home (demanders in the housing market) are current home owners who are thinking about selling their homes (i.e. suppliers in the housing market) suddenly believe that existing home prices are l..
Grapple Market Share Corporation would like to know what information federal agencies have about Grapple’s operations, so that the firm will know what its competitors may be able to learn about it. Can Grapple require the agencies to disclose whateve..
With some services, e.g., checking accounts, phone service, or pay TV, consumers choose between two or more payment plans. One can either pay a high entry fee and get a low price per unit of the service or pay a low entry fee and a high price per uni..
Sam sells property to Betty and delivers Betty a deed that says "This property is conveyed to Betty so long as she never operates a bar on the premises." If she operates a bar on the premises, Sam Seller may take possession of the property.
What is each fisherman's profit-maximizing output now. Find the market price and the total output.
Discuss some of the methodological and measurement problems one might encounter in using time-series data to estimate the parameters of this model.
Explain why marginal revenue is less than or equal to the price. How does the difference between price and the marginal revenue depend on the price elasticity of demand?
Many police officer positions being advertised today require the applicant to have a college degree even though the tasks of a police officer rarely call upon college course material. From an economics perspective, why don't police departments increa..
A profit-maximizing monopolist produces an output level at which
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