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Plus variable costs of $25 for each cord of firewood. Annual demand and marginal revenue relations for a company are: Calculate the company's optimal profit and return-on-sales levels.
With each provider. What is the cost to your friend of an extra minute on the phone? How much would he end up paying each provider every month?
What arguments can be made for charging a lower than the profit-maximizing price? What price from the available prices do you recommend? Explain.
The price of orange juice remains constant. How much additional income would Sam need to afford his original consumption bundle?
Would elasticity of demand be important to you in determining those products on which excises should be levied? Explain.
These forecasts for the Internet creating "perfectly competitive" markets were based on the competitive model. Do you think the Internet has helped create more competitive markets or less? Why?
Statistics Canada reported the following data for July 2004: the Canadian labour force was 19.65 million; Canadian employment was 18.32 million; the Canadian war.
If a severe drought decreased labour productivity in Zambia, explain what will happen to each of the following. potential GDP.
In 2008, India experienced a surge inflation exceeding 11 percent, large government deficits, and rising interest rates. Distinguish between the crowding-out effect and the Ricardo-Barro effect. How a
Explain how each of the following events will influence the demand or supply of coffee, and predict the change in equilibrium price and equilibrium quantity.
Calculate Canada's opportunity cost of one tonne of wheat. If Canada and Chile specialize, how many tones of wheat and how many tonnes of copper ingots will be produced?
Identify each of the following as consumption or investment goods or both. Justify your answers. a tennis racquet, a vacation in a foreign country.
What do these numbers tell you about the price level in these three years? How do alternative price indexes help to avoid the bias in the CPI numbers?
Calculate the numerical elasticity of short-run demand. Is it unitary, elastic, inelastic, etc.? Is the demand for calls more elastic in the short-run or long run?
Will the sales force and warehouse manager maximize profits? If not, give an example of a decision the sales force and/or warehouse manager might make that does not maximize pro ts.
If the population standard deviation is known to be eight hours, can we conclude at the 1% significance level that he is right?
Determine whether the Justice Department would challenge a merger between two firms in an industry with 10 equal-sized firms, based on its 1984 Herfindahl-index guidelines only.
Explain (a) in what way the U.S. trucking industry exemplified the capture theory hypothesis of government regulation prior to the passage of the Motor Carrier Act of 1980.
TC = 500,000 + 0.85Q + 0.015Q2 and Q =14,166 - 16.6P. Determine the short-run profit maximizing price. B. Plot this information on a graph showing AC, AVC, MC, P and MR.
Mighty Wings, or the Sausage Breakfast Burrito on it local menu board. Do you think McDonald's new launch will have a sustainable impact on its bottom line? Explain.
Under what circumstances would Gore be better off giving Bush a head start on putting together his presidential ticket? What kind of strategic situation is this?
The power to constrain an adversary depend upon the power to bind oneself." Explain this statement using the concept of strategic commitment.
What are the two characteristics of public goods? Is U.S. border control a public good or a private good? Why? How about satellite TV? Explain
The demand schedule for sugar is: What happens to total revenue if the price of sugar rises from $3 to $7 per kilogram? At what price is total revenue a maximum?
How do you think a loss of confidence in the Thai baht, evidenced by a large withdrawal of funds from Thailand, will affect the baht's value?