If the demand, and total cost functions are: P = 28 - 0.0008Q TC = 120,000 + 0.0006Q2 a. How many subscribers would be expected if Company A was allowed to operate completely unregulated? b. How many subscribers would be expected if Company A acted like a perfect competitor? c. How many sub
The wheat market is competitive with the market supply and demand curves: QD=20,000,000-4,000,000P QS=7,000,000+2,500,000P Where QD and QS are quantity demanded and quantity supplied measured in bushels, and P=price per bushel. A) Determine consumer surplus at the equilibrium price and
Price Quantity Demanded Quantity Supplied $9 100 Million 40 Million $10 90 Million 60 Million $11 80 Million 80 Million
Suppose the price of apples rises from $3 a pound to $3.45 and your consumption of apples drops from 30 pounds of apples a month to 21 pounds of apples. Calculate your price elasticity of demand of apples. What can you say about your price elasticity of demand of apples? Is it elastic, inelastic, or unitary elastic?
"When a person goes to the grocery store to buy food, there is no auctioneer calling out prices for bread, milk, and other items. Therefore, supply and demand cannot be operative." Is this statement true or false? Explain your answer.
The price p and the quanity x sold of a product obey the demand equation x = -20p + 500, 0<P<25 a. Express the revenue R as a function of X b. What is the revenue if 20 units are sold? c. What quantity x maximizes revenue? What is the maximum revenue? d. What price should the company charge to maximize revenue?
Describe three ways in which the Federal reserve can change the money supply. If the Federal Reserve is going to adjust all of these tools during an economy that is growing too quickly, what changes would they make? If the Federal Reserve is going to adjust all of these tools during an economic recession, what changes woul
"US consumer is seen as big loser in new restraints on imported steel" said a recent Wall Street Journal headline. The big gainers from the quota limitations on imported steel were predicted to be US producers, who would sell more, and foreign producers, who would sell less but at a higher price. Is this prediction correct, if s
Air Express, an overnight mail carrier, provides one flight per day from Portland, Maine to Hawaii. Currently Air Express flights have been operating at 80% capacity (maximum capacity 400 pounds). Therefore each flight has the potential to carry 80 additional pounds of mail. Air Express is currently accepting bids to carry 80 po
Please help with the following problem. Air Express, an overnight mail carrier, provides one flight per day from Portland, Maine to Hawaii. Currently Air Express flights have been operating at 80% capacity (maximum capacity 400 pounds). Therefore each flight has the potential to carry 80 additional pounds of mail. Air Expres
The Efficient Number of Firms Suppose the oil industry in some country is perfectly competitive and all firms extract oil from a common, and endless pool. The cost of operating a well is #1,000 for one year, and the firm can sell any amount it chooses at the world price of $10 a barrel. If N wells are operating, the output
A) In response to increasing thefts by drug addicts, the government passes legislation increasing both the penalty and probability of punishment for suppliers of illegal drugs. What would be a good prediction of what would happen to the rate of property crime committed by drug addicts if the price elasticity of demand for illega
P=200-3Q P=20+Q A) How do I know which equation is supply and which is demand? How can I calculate the amount of shortage or surplus that would prevail at a price of $25 per unit? In terms of economic surplus, who gains and who loses? B) Using the same supply and demand equations, can you explain and determine graphically
Question 1: analyze developments in demand and supply in the past few years in a market known to you (e.g. where you worked or a housmg market known to you). Include in your analysis an explanation of the determinants of demand and supply, recent changes in demand and supply, elasticity of demand and supply, and the impa
Critique the suggestions from Brendan Flaherty and Jason Womack, as described in the e-mail from Michael Dellucci. Please see attached documents
Identify the prices that maximize profits in Europe and the United States. Please see attached document. My working excel model should be helpful.
Back in the 1960s, President Lyndon Johnson passed legislation that increased expenditure for both the Vietnam War and social problems in the US. Since the US economy was operating at its full employment level when President Johnson did this, he appeared to be ignoring what economic concept?
Problem Set #5 Pizza restaurants are identical and exist in a market that is perfectly competitive. Marty's pizza parlor faces the following demand and costs... a) Derive the profit-maximizing output quantity and the profits that are achieved. b) Is the market in long-run equilibrium? If not, decribe what will happen in t
Based on each group of travelers according to their price sensitivity, need help to analyze the price elasticity of demand for each group. Problem: Clear Blue Sky Airlines is under performing. The Raleigh-Durham to Chicago route is less profitable than our other routes. Background... Concerns and policy... Please c
Should the company use price-discrimination strategies to improve profitability? Please see the attached for full background.
Given these figures (see attachment), how to calculate the compounded annual rate of growth for the third quarter ( 2 decimal places I suppose) for: 1) Real GDP 2) Final sales 3) Gross domestic purchases 4) FSDP 5) Is GDP due to strong US demand, or other factors? 6) What percentage contribution did change in business i
A manufacturer has estimated that the demand for its product as Qx = 500 - 2Px + .5I + .65Pz - 1.8Py where Qx is the quantity demand, Px is the price, I is average annual income (currently $14,000). Pz and Py are the prices of related goods. Total costs are given by TC = 3,500,000 + 500Q Suppose that PZ= $300
Explain using Year 1 Macro-Canadian Perspective Some people have suggested raising the required reserve ratio for banks to 100%. (a) What would the money multiplier be if this change were made? (b) What effect would such a change have on the money supply? (c) How could this effect on the money supply in (b) be offset
The Rising Cost of Apples The price elasticity of demand is a measure of the responsiveness of demand to a change in price. If demand changes by more than the price has changed, we describe the good as price-elastic. If the demand changes by less than the price has changed we describe it as price-inelastic. The following para
Explain why housing prices vary from city to city. Clearly explain how supply and demand affect the prices of the homes. I have done the research on various markets but I and the cost of housing but I am not sure how to explain why the prices vary. Washington Atlanta Denver New Jersey San Francisco $350,000 $135,000 $169,
I need to know what The United States of America is in demand for. For example,specific fruits oil etc, also and how does this affect our economy, how does inflation tie into this and who determinds the prices for these items?? Thanks, Rudy
Can you please explain to what productivity in accordance with Starbucks would be?
Suppose that the typical snowboarder/skiier visiting Mount Mogul ski resort on a typical day would be willing to pay for lifts up the mountain according to the following schedule. (see attched file) a) Why does the WTP schedule slope downward ? b) Suppose all skiers at Mount Mogul had the same WTP schedule as this skier
Last month, concerns that political infighting in Moscow might choke future supplies drove the price of palladium to nearly $1,000 an ounce. Although there is less than an ounce of palladium in most vehicles -- it is used inside the catalytic converter -- that kind of price surge means palladium suddenly is becoming a big-ticket
What would be substitutes for a. consumer line desktop computers and b.high profile enterprise lever desktop computers? What would be a compliment to them? What has happened to the price of the substitute and complimentary goods or services over the last year? How have those price adjustments impacted the demand for