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!
Brenda wants to buy a new car and has a budget of $25,000. She has just found a magazine that assigns each car an index for styling and an index for gas mileage. Each index runs from 1 to 10, with 10 representing either the most styling or the best gas mileage. While looking at the list of cars, Brenda observes that on average, as the style index increases by one unit, the price of the car increases by $5000. She also observes that as the gas-mileage index rises by one unit, the price of the car increases by $2500.
a. Illustrate the various combinations of style (5) and gas mileage (G) that Brenda could select with her $25,000budget. Place gas mileage on the horizontal axis.
b. Suppose Brenda"s preferences are such that she always receives three times as much satisfaction from an extra unit of styling as she does from gas mileage. What type of car will Brenda choose?
c. Suppose that Brenda"s marginal rate of substitution (of gas mileage for styling) is equal to 5/(4G). What value of each index would she like to have in her car?
d. Suppose that Brenda"s marginal rate of substitution (of gas mileage for styling) is equal to (35)/G. What value of each index would she like to have in her car?
A group of firms in an industry have been accused of engaging in price fixing in Edmonton, but not elsewhere. Describe and explain four methods you might use to estimate the price impact of the conspiracy.
Monica and her father own one of the three automobile tire stores in the city. No other city is nearby. They want do develop a strategy increase sales and market share in their city. What steps can they take?
Explain the output and price effects which affect the profit-maximizing decision faced by the firm in oligopoly market. How does this differ from output and price effects in monopoly market?
Assume also that her money holdings or the price level stay constant over time. write down the “life-time” budget constraint of this farmer,assuming that her planning horizon extends only two periods into the future.
Identify an organization in that industry. Identify the market structure in which this organization competes. Clearly indicate why the market structure was decided upon, and how this market structure differentiates from the other alternatives.
What are Economies of Scale? Why is it Significant to understand this concept? How can one's knowledge of Economies of Scale contribute to decision making processes in organizations?
If the demand elasticity for kiwi fruit is -0.2, would kiwi farmers be better off if tropical storms destroyers 1% of each farmers crops what does that tell you about the farmers incentive to form a cartel
what is the highest possible price per unit that could exist as the market price in long-run equilibrium and If that price ends up being the market price and if the normal rate of profit is 10 percent, then how big will each firm's accounting profit..
In 2005, hogs in the US were selling for $67 each, down from $75 a year ago. This was primarily due to fact that supply had raise during the period to 1.8 million hogs per week.
Suppose the information in the following table is for a simple economy that produces only the following four goods and services: textbooks, hamburgers, shirts, and cotton. Assume that all the cotton is used in the process of producion.what is the ..
How can providers of legal services differentiate their products? How does Nolo.com attempt to do this?3. Search the web for at least three additional online legal firms and compare the services these firms offer (a quick bullet list will suffice..
Which of these two approaches are preferable(explain them).State the crdinalist and ordinalist conditions for consumer equilibrium.
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