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Question:
Hi can you please support me on this question
(i) How much substitutability do you suppose exists between inputs in winemaking?
How might this factor affect efforts to cut costs?
(ii) If a firm was to find a new technology that cut the required ageing time in half, how
would it affect the demand for other inputs?
A firm has $1,100,000 in sales, a Lerner index of 0.62, and a marginal cost of $55, and competes against 1000 other firms in its relevant market. Instruction: Round your answers to 2 decimal places.
A demand curve is given by the following equation: P = -2Q + 40. i) Calculate the Total Revenue when Q = 5 and when Q = 8. ii) Calculate the price elasticity of demand between Q = 5 and Q = 8. Round decimal answers to two places.
Assume that an investor is risk-neutral (i.e. assume that the investor always chooses the investment with the higher expected rate of return even if it is riskier). If the yield on 1-year marketable CD's is 6% while the yield on 2-year marketable ..
The bond bears an interest rate of 7%, which is payable semiannually. Four years ago, the bond was purchased at $950. At least an 8% annual return on the investment is desired. What must be the minimum selling price of the bond now in order to mak..
The other, smaller manufacturers set their price based on that established by Big Steel. Discuss how Big Steel should use the information on the supply of steel by other, smaller competitors when it determines its profit maximizing price.
Suppose the price of labor is w=36 and price of capital is r=64. Graph the isoquant associated with 12 units of output, and on the same graph, graph the isocost line associate with producing 12 units of output when the firm minimizes the cost of p..
Consider an industry that has eight firms, with the following market share percentage: 30, 20, 12, 10, 10, 8, 7, and 3. Calculate the four-firm concentration ratio and the (eight-firm) HHI for this industry.
An ice cream vendor sells three flavors: chocolate, strawberry, and vanilla. 45% of the sales are chocolate, while 30% are strawberry, with the rest vanilla flavored.
Assume the city imposes a new requirement for a $100 per year taxi license fee for all drivers. Assume the regulated price remains fixed at $40. how many rides will the driver provide now and what are his profits
A new machine is to be purchased for $150,000. The company believes it will generate $60,000 annually in revenue due to the purchase of this machine. The company will have to train an operator to run this machine
In general, the marginal cost curve is U-shaped as you learned in lectures and the textbook. However, exception exists. Please provide one particular industry as an example to illustrate that MC is not U-shaped. Explain briefly the shape of MC in ..
Although it is impossible to make a pile of money worth exactly $3, it is still possible to buy something that costs $3. You can give two $7 bills to the cashier and receive one $11 bill as change. There are two different ways to make $120.
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