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You have been hired by a new firm selling electronic dog feeders. Your client has asked you to gather some data on the supply and demand for the feeder, which is given below, and address several questions regarding the supply and demand for these feeders.
Quantity Demanded
Quantity Supplied
$300
500
1800
270
600
1700
240
700
1600
210
800
1500
180
1000
1400
150
1100
1300
120
1200
90
60
30
900
10
Your client has asked that you develop a report addressing the following questions so that you can present these findings to their Board of Directors:
Questions:
If Jose's utility function is U(q1,q2) = q1 + A*(q1)^a)(q2^b)+q2, what is his marginal utility from q2? What is his marginal rate of substitution between these two goods?
Illustrate what are the best goals for the Fed. Should it lean toward restraint or toward expansion.
As a budding entrepreneur, you have purchased a small bagel shop. You have engaged in a market study to categorize your customers' willingness to pay for a meal (coffee+bagel) into 8 equal sized groups: ($5.00, $4.50, $4.00, $3.50, $3.00, $2.50, ..
Illustrate what is the price elasticity of demand. From the price elasticity elucidate the new rates be for 2009 if the demand increases at the same rate.
So many states provide firms with an investment tax credit that effectively reduces the price of capital.
Consider the difference between the New Classical and Keynesian model regarding macro policy. What is the driving force creating growth in the economy in each model Why does each one say that item creates growth Explain.
If the market has an expected return of 10 percent, a standard deviation of 20% and the risk-free rate is 4 percent, what proportion of your money should be invested in the market if you want an expected return of 16%?
The ten firms have banded together to form a cartel, and the cartel sets the monopoly price. The cartel agreement limits each firm to an output of one-tenth of the total amount demanded at the cartel price.
Assume the the equipment can be sold for its $12,000 salvage value at the end of the 8 years. Also assume a 46% income tax rate for state and federal taxes combined.
Hurricane Katrina which hit the Gulf Coast region in August 2005, resulted in massive flooding which destroyed large sections of New Orleans. Suppose prior to this event, New Orleans was producing an output combination given by a point.
An industry consists of three firms with identical costs C (q)18q +q2. What is the industry equilibrium (price, output and profits) if the firms have Cournot beliefs?
Calculate the price elasticity of demand for the product below using average values for the prices and quantities in your formula.
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