Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Choose two real-world companies in different industries, one that you feel faces elastic demand and one that you feel faces inelastic demand. In each case, you are an economist working in the company and you have come to a conclusion of what kind of demand the company faces.
You are to write a paper, convincing the president of the company of your conclusion and explaining what the company's pricing strategy should be. 200 word minimum for each company
Explain how much should firm produce in order to maximize profit. Illustrate what is maximum profit that firm can generate at output level (your answer in a).
You are the manager of a monopoly, and your demand and cost functions are given by P=300-3Q and C(Q)=1500+2Q^2, respectively. MR(Q)=300-6Q and MC(Q)=4Q. What level of output should this monopolist produce in the short run? What price should this mono..
Suppose that the firm has determined its profits-maximizing level of inputs in the short-run. Now the price of a fixed input goes up. How will this change the behaviour of the firm? What will happen to profits? Why?
All else held constant, the choice whether to use labor intensive production process or capitla intensive one depends on; 1. whether the compnay is growing or shrinking. 2. the relative prices of capital labor 3. the type of market in which the firm ..
What happens in a perfectly competitive industry when economic profit is greater than zero?
Profit Maximizing Rule: A firm maximizes profit by continuing to produce and sell output until Marginal Revenue (MR) = Marginal Cost (MC).
Briefly explicate whether Turbo has a dominant strategy. Briefly explicate whether there is Nash equilibrium in this game.
Is the demand for this good price elastic or price inelastic? Justify your classification by talking about the determinants of elasticity as they apply to this product.
Estimates for a proposed small public facility are as follows: Plan A has a first cost of $50,000, a life of 25 years, a $5,000 market value, and annual maintenance expenses of $1,200. Plan B has a first cost of $90,000, a life of 50 years, no market..
A market has a demand curve described by P=26-Q, a supply curve described by P=10+Q, and a price ceiling of 12. Calculate the Total Surplus of the market with the price ceiling.
Ann’s preferences are represented by a utility function UA(x). Suppose one were to (colloquially) say that Carol has more “sensitive preferences” than Ann: her utility function UC (x) satisfies UC (x) = 2UA(x). Prove that for every choice set, Ann an..
Think about how you can check whether marginal benefit equals marginal cost for each of your household’s activities. Are your household’s resources allocated fairly? Think about the two ideas of fairness and how they apply in your household.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd