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Question: Cost curves, graphically (8 points). GLS Ch 7, P10. Daniel's Midland Archers (DMA) makes children's wooden practice arrows. Draw a set of representative short-run cost curves for DMA. Include average variable cost, average fixed cost, average total cost, and marginal cost. Assume marginal cost is increasing and average variable cost starts above marginal cost. (a) (4 points) Suppose that Congress imposes a 39-cent excise tax on each children's wooden practice arrow DMA sells. Illustrate the effects of this tax on the cost curves of DMA. Which curves shift and which do not? (b) (4 points) Suppose that the city where DMA produces arrows increases the annual property tax on DMA's factory from $80,000 to $150,000. Illustrate the effects of this tax on the cost curves of DMA. Which curves shift and which do not?
Use the concept of opportunity cost to explain the following situations: 1) More people choose to get graduate degrees when the job market is poor.
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A share of the common stock of the company currently sells for 8 times current earnings. management and outside analysts expect the growth rate of earnings and dividends for the company to be 7.5%. Calculate the cost of equity to this firm.
Is it price discrimination when a professional football team charges say, $150 per ticket for 50-yard-line tickets in the lower deck and $50 per ticket for upper-deck tickets overlooking the end zone?
Provide two examples of simple linear regressions we could use in (1) economics and (2) finance. Carefully define the variables you would use as the dependent variable (y) and the explanatory variable (x). Now discuss different types of hypothesis..
The question of how to distribute the money overtime has been posed (that is, $5.5 million 2 years from now, and $30 million 7 years from now. Determine which plan is more economical on the basis of a present worth analysis over a 10-years period ..
Explain how monetary policy can be used to reduce inflation.
Explain how economies of scale and scope can lead to a larger business model. Will a firm that has one or both be bothered by antitrust legislation? Why/why not?
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