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Garland Mills purchased a certain piece of machinery 2 years ago for $500,000. Its present resale value is $380,000. Assuming that the machine's resale value decreases exponentially, what will it be 3 years from now?
Assume the Widget Industry is composed of the following firms with associated market shares: firm Market Share A 35 B 20 C 10 D 7 E 3 The remaining market is served by about 100 small firms. What is the HHI for the Widget Industry
You are one of five risk-neutral bidders participating in an independent private values auction. Each bidder perceives that all other bidders' valuations for the item are evenly distributed between $50,000 and $80,000
A firm that has total fixed costs of $60,000 sells its output for $250 per unit and has an average variable cost of $200. If the firm's cost and revenue curves are linear, how much output must the firm produce to break even
Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing potatoes, she can raise 200..
Assume that a monopolist considering to spend 500.000 usd on large campaign to promote the their products.The demand curves are defined by p = 150 - 3q, where q is the output-quantity in 1000-usd. By executing the campaign the firm expects the new de..
People hold $400 million of bank deposits but no currency. Banks have made $380 million dollars of loans and only hold enough reserves to satisfy reserve requirements. Because of uncertainty, banks choose to hold $10 million more in reserves.
Suppose a competitive firm produces spaghetti dinners. The market price of a spaghetti dinner is $20. The cost of making the dinners is given by C(Q) = 10Q + (Q2/160). The marginal cost is given by MC = 10 + (Q/80).
the elasticity of demand on the part of animal owners is -2.0. The research also estimates that at this price the elasticity of demand for human use would be -.2. The current price is $5.00 per dose. If the MC of production is $1, what should the ..
A total of $50,000 is borrowed and repaid with 60 monthly payments, with the first payment occurring 1 month after receipt of the $50,000. The stated interest rate is 6 percent compounded quarterly.
Discuss the differences you observe in your answers above between the monopoly and perfectly competitive firm. x-axis 0 8 18 21 30 price and cost per unit y-axis 0 20 33 35 40 quanity.
Suppose that everyone is risk neutral, potential car buyers value lemons at $1,000 and good used cars at $3,000, the reservation price of lemon owners is $750, and the reservation price of owners of high quality used cars $1,750.
Consider a demand function x = 100 - p where x is output and p is price. A monopolist has cost C(x) = (1/3) x^3 - 7 x^2 +111x +50 Find the profit maximizing output (and price) such that x 0. Check to see if you have a local max or min and also chec..
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