theory of supply, Microeconomics

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Tut10, 3. You plan to sell a sunglasses clip that you can attach to a car''...

3. You plan to sell a sunglasses clip that you can attach to a car''s sun visor. You can purchase the goods from a wholesaler at $2 a piece and there is an overhead cost of $500 pe

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Some Cost Considerations for Managers * Three guidelines for estimating the marginal cost(MC): 1) Average variable cost should not be used as substitute for the marginal cost(

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When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3.

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Question Suppose you work for the state government of California. Due to the heavy traffic jam on I-880, the state has decided to decide to construct a new highway. To fund a p

Compute the point price elasticity of demand, Suppose that the price of sch...

Suppose that the price of schooling is $20 per year of schooling and it suddenly rises to $40. Compute the point price elasticity of demand at the initial price level and at the fi

Consumer surplus, suppose ismail were to eat five pizzas per week.what is t...

suppose ismail were to eat five pizzas per week.what is the total value ismail would place on his five weekly pizzas?

Calculate the responsiveness of consumers, The price elasticity of demand i...

The price elasticity of demand is how economists calculate the responsiveness of consumers to alters in prices for a commodity.  In other words, as price enhances (reduces), the qu

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