Get college assignment help at uniessay writers why exchange is the necessary consequences of specialization?
Evaluate the following statement: “Managers should specialize by acquiring only the tools needed to operate in a particular market structure. That is, managers should specialize in managing either a perfectly competitive, monopoly, monopolistically competitive, or oligopoly firm?”
A small college has space for a maximum of 1,000 students. The college can identify 500 of its students who are willing to pay $20,000 per year and 500 students who are willing to pay $10,000 per year. The college has annual fixed costs of $10 million, and the variable cost for each additional student is $5,000. To continue operating, the college must receive payments equal to its total costs (that is, total fixed costs total variable costs).
ec201 lse quiz answers
Why is unemployment so high in Europe?
You are a division mgr at toyota. If you marketing department estimates that the semiannual demand for the Highlander is Q = 100,000 – 1.25P, what price should you charge in order to maximize revenues from the sales of the Highlander. Please put this into Excel so I can see the formulas/calculations. Thanks
1. A firm has a production function described as follows: “Weekly output is equal to the square root of the minimum of the amount of capital and the number of hours of labor used per week.” Suppose that the cost of a unit of capital is r and the price of a unit of labor is w and the level of output is y. Write down the long-run total cost as a function of w, r, and y. 2. The production function of a competitive firm is described by the equation y = 4×11/2 x21/2. The factor prices are p1 = $1 and p2 = $36 and the firm can hire as much of either factor it wants at these prices. The firm’s marginal cost is
What is the price elasticity of demand if a price falls from $7 to $6.50?
A firm’s marginal revenue is $133 and its marginal cost is #90 what amount of profit does the firm fail to pick up by refusing to incease output by one unit?
Suppose demand and suppy are given: Qd=7-0.5Px and Qs=0.25Px-0.5 A.) Determine the equilibrium price and quantity and the show graphically B.) suppose a $6 excise tax is imposed on the good. Determine the new equalibrium price and quantity. C.) How much tax revenue does the government earn with the $6 tax?
Get college assignment help at uniessay writers Dakota Publishers prints coffee table photo books of the Great Plains and mountain states. The marketing manager generally prices books at $35 each, and sales an average of 4,000 per month. Last month, she had a sale and priced volumes at $22.50 each, selling 8,500 copies. Calculate the price elasticity for these books. Describe how elasticities should be used in pricing decisions. If you were responsible for setting the price of these volumes, what would you choose and why?
Use the attached Graph to answer the following: a) If a price ceiling of 6$ is imposed, what are the resulting shortage and full economic price? b) If a price floor of $12 is imposed what is the resulting surplus? What is the cost to the government of purchasing any and all unsold units? c) At the $10 equilibrium price, if an excise tax of $6 is imposed on this product, what happens to the equilibrium price paid by consumers? The price received by producters? The number of units sold? d) Calculate the level of consumer and producer surplus when demand and supply are given D and S0 respectively. e) Suppose demand is D and supply is S0. Would a price ceiling of $2 benefit any consumers? Explain.
Researchers have developed a series of new tests aimed at detecting and removing infections from donated blood before it is used in transfusions. The obvious benefit of these tests is to reduce instances of infection through blood transfusions. The report indicates that the currect price of decontaminated blood is $80 per pint. However, if the new screening methods are adopted, the demand and supply of decontaminated blood will change to Qd=175-P and Qs=2P-200. What price do you expect to prevail if the new screening methods are adopted? How many units of blood will be used in the united states? What is the level of sonsumer ans producer surplus? Illustrate your finding in a graph.
G.R. Dry foods distributors specializes in the wholesale distribution of dry goods, such as rice and dry beans. The firm’s manager is concerned about an article he read in the Wall Street Journal indicating that the incomes of individuals in the lowest income bracket are expected to increase by 10% over the next year. While the manager is pleased to see this group of people doing well, he is concerned about the impact this will have on G.R Dry Foods. What do you think is likely to happen to the price of the products G.R. Dry Foods sells? Why?
1`.A can manufacturing company produces and sells three different types of cans: Versions X, Y, and Z. A high-level, simplified profit/loss statement for the company is provided here. Corporate overhead (rent, general and administrative expense, etc.) is allocated equally among the three product versions. After reviewing the statement, company managers are concerned about the loss on Version Z and are considering ceasing production of that version. Should they do so? Why or why not? Version X Version Y Version Z Total Net Can Sales $180,000 $240,000 $105,000 $525,000 Variable Costs 105,000 135,000 82,500 322,500 Corporate Overhead 60,000 60,000 60,000 180,000 Contribution to Profit 15,000 45,000 37,500 22,500 2.3-5 Evaluating Performance in a Small Business A few years ago, a construction manager earning $70,000 per year working for a regional home builder decided to open his own home building company. He took $100,000 out of one of his investment accounts that had been earning around 6% a year and used that money to start up the business. He worked hard the first year, hiring one employee (his only salary cost for the business was the $40,000 paid to this employee), and generated total sales of $1,000,000. Total material and subcontracted labor costs for the year were $900,000. Calculate accounting profit. What are the opportunity costs for the manager of being in this business relative to returning to his old job? What is the economic profit of the business? 3.
Picture Refer to the above diagram. Assume that for the entire business sector of a private closed economy there is $0 worth of investment projects that will yield an expected rate of return of 25 percent or more. But there are $15 worth of investments that will yield an expected rate of return of 20-25 percent; another $15 with an expected rate of return of 15-20 percent; and similarly an additional $15 of investment projects in each successive rate of return range down to and including the 0-5 percent range. Which of the lines on the above diagram represents these data? A. A B. B C. C D. D
suppose you have two goods, ice cream and macaroni(an inferior good to most people). show graphically what happens when the price of the ice cream decreases and income increases.
Which kind of firm is more likely to practice gender, racial or other discrimination: a perfectly competitive firm, a monopoly or an oligopoly? Why?
a) Fill in the column of marginal products. What pattern do you see? How might you explain it? –> I have filled in the Marginal cost. I think I did it right?? b) A Worker costs $100 per day, and the firm has a fixed cost of $200. Use the information to fill in the column for average for average total cost. c) Fill in the column for Total Cost. (Recall that ATC = TC/Q) What pattern do you see? d) Now fill in the column for marginal cost (Recall that MC = ^TC/^Q) What pattern do you see? e) Compare the column for marginal product and the column for marginal cost. Explain the relationship. f) Compare the column for average total cost and the column for marginal cost. Explain the relationship. The chart: Workers | Output | Marginal Cost | Total Cost ? 0 0 20 1 20 30 2 50 40 3 90 50 4 120 60 5 140 70 6 150 80 7 155 90
what firms need to do in order to bring in the most talented people (from anywhere) and make the fullest possible use of their abilities.
evaluate relative importance of economies of scale and comparative advantage in causing the following: a)most semi-conductors are manufactured in either the US or Japan b)most of the worlds aluminiumis smelted in Norway or Canada c) Much of the worlds best wine comes from France d)Half of the worlds large jet aircraft are assembled in Seattle e)Most Scotch whiskey comes from Scotland
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