Please show work. Thanks! Based on historical data regarding sales, War Games management forecasts demand for the game to be P= 50- 0.002Q, where Q denotes unit sales /year, & P denotes price in dollars. The cost of manufacture is C= 140,000 + 10Q. Calculate the following, assuming that War Game maximizes profit: a. quanti
1. Illustrate the following with supply and demand curves. Before economic reforms were implemented in the countries of Eastern Europe, regulation held the price of bread substantially below equilibrium. When reforms were implemented, prices were deregulated and the price of bread rose dramatically. As a result, the quantity
I need help in determining whether each of the following would lead to an increase, a decrease, or no change in the quantity of money people wish to hold. Also determine whether there is a shift of the money demand curve or a movement along a given money demand curve. a. A decrease in the price level b. An increase in real o
Accounts payable . . . . . . . . . . . . . . . . . . . . . .. $ 35,000 Accounts receivable . . . . . . . . . . . . . . . . . . . . . . 65,000 Advertising expense . . . . . . . . . . . . . . . . . . . . . . 15,000 Cash . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . 19,500 Supplies expense . . . . . . . . . . . . .
The switch to the use of HFCS from sugar in soft drinks was prompted in large part by its relatively lower price.
The switch to the use of HFCS from sugar in soft drinks was prompted in large part by its relatively lower price. Assuming a competitive market, what effect would this change have on the equilibrium price and output for soft drinks? price rises, output falls price falls, output rises price rises,
The demand for agricultural output is price inelastic. This means that if farmers, taken collectively, have a bumper crop, they will experience:
The demand for agricultural output is price inelastic. This means that if farmers, taken collectively, have a bumper crop, they will experience, a. lower price, greater quantities sold, and lower incomes b. higher prices, greater quantities sold, and higher incomes c. Lower prices, lower quantities sold, and lower incomes
I can't figure out how to go about finding how much the firm will charge. Suppose that a price-discriminating monopolist has segregated its market into two groups of buyers, the first group of described by the demand and revenue data in table 1. The demand and revenue data for the second group of buyers is in table 2. Assum
Many "on-ground" university campuses sell parking permits to their students allowing them to park on campus in designated areas.
Many "on-ground" university campuses sell parking permits to their students allowing them to park on campus in designated areas. Although most students complain about the relatively high cost of these permits, what annoys many of these students even more is that after having paid for their permits, vacant parking spaces in the d
The main thing is that many farmers have converted their acreage from wheat to corn to take advantage of the demand for ethanol
The main thing is that many farmers have converted their acreage from wheat to corn to take advantage of the demand for ethanol, used in gasoline and which draws very high prices for growers. Farmers that had planted wheat for 50 years are now planting corn. How will this affect the supply and demand?
What would have happen to gasoline production and consumption if the government had prohibited post-Katrina price increase?
The quetion are self practices on supply and demand. 3. what would have happen to gasoline production and consumption if the government had prohibited post-Katrina price increase.(see news page 55). 6. In fig. 3.8 why is the organ demand curve downward-sloping rather than vertical? 7.The shortage in the organ market (fig 3.8)
Annual demand and supply for the Entronics company is given by: QD = 5,000 + 0.5 I + 0.2 A - 100P QS = -5000 + 100P where Q is the quantity per year, P is price, I is income per household, and A is advertising expenditure. a) If A = $10,000 and I = $25,000, what is the demand curve? b) what is equilibrium
Peak Period Computations Consider an electricity market with a daytime (peak-period) inverse demand of P=160-Q, and a nighttime (off-peak) inverse demand P=80-Q, where P is the price of electricity and Q is units of electricity. The marginal cost of supplying electricity is: MC=Q. Right now the utilities face a regulated pric
The inverse market demand curve is P=140-Q, and the inverse supply curve is P=20+Q. Assume that the closed market is NOT competitive, but is controlled by a single supplier. Again using the same inverse supply and demand curves, compute the following: 1. the monopoly equilibrium production/consumption level 2. the market pr
The inverse market demand curve is P=140-Q, and the inverse supply curve is P=20+Q. Assume that the market is in the equilibrium. Now, the market is opened up for trade. The world price is $60 per unit, and the country is too small to able to influence this price. Hence, the only option the country has is to buy or sell at the
I need to answer these two questions for homework and show my calculations. Please see attached file for full problem description. 1) Suppose you are hired to manage a small manufacturing facility which produces Widgets. a. You know from data collected on the Widget Market that market demand has recently increased and mar
Please can you give some ideas on how to solve the problem, even if you can't help with the final solution..Thank you! The demand for bus transportation in a small city is P=100-Q, where P is the price of the bus fare, and Q are rides per month (units=10,000 rides). (a) What is the revenue function for bus rides? Plot this
Could you please write four paragraphs or so in APA style if your giving me information for another publication, using economic terms and demonstrate with a elastic demand chart concerning Elastic Demand and Price Discounts.
The point of equilibrium is the intersection of the supply and demand curves. The point of equilibrium changes based on movements in these two curves. What are some of the ways these curves shift and what is the corresponding change to the point of equilibrium?
The supply of healthcare could be equated to the number of physicians, nurses, MRIs, CTs, ORs and etc. Demand for healthcare can be equated to the number of visits a physician sees, MRIs preformed, etc. How does supply affect healthcare? How does demand affect healthcare? What are some good examples of how supply and demand
*Please show all work, use excel and identify the value and units measured. (Notes for my own Use: Ch10:2) Location Problem with Two Sites. Oliveira Office Supply has a large retail system consisting of 12 stores spread around the country, often in direct competition with Kilroy. However, managers at Oliveira have decided
Which level indicates the point of maximum economic efficiency? Lowest point on AC curve Lowest point on AVC curve Lowest point on MC curve None of the above A monopoly will usually produce where its demand curve is inelastic where its demand curve is elastic
Suppose the demand for Levi jeans increases by 9%. If the supply elasticity is 0.7 and the demand elasticity is 0.8 what will be the percentage change in the equilibrium price?
1. Suppose that macroeconomic forecasters predict that the economy will be expanding in the near future. How might managers use this information 2. Governments impose excise taxes on goods that have inelastic demand, such as cigarettes, more often than in other cases. Explain why
You have the following data for the last 12 months' sales for the PRQ Corporation (in thousands of dollars): January 500 July 610 February 520 August 620 March 520 Sep
Which of the following will cause the demand curve for gasoline to shift leftward? a. a decrease in the price of gasoline b. an increase in the price of gasoline c. a leftward shift of the supply of gasoline d. a rightward shift of the supply of cars e. a decrease in the price of bicycles Markets reduce transactions co
List the names of the some companies that are in monopoly business. Explain whether a monopoly could increase its revenue and its profits by charging different prices to different groups of customers. Give a numerical example to illustrate your point OTHER THAN SENIOR DISCOUNTS.
Suppose the price of apples rises from $3.50 a pound to $4.00 and your consumption of apples drops from 30 pounds of apples a month to 20 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? Be sure t
12. The following payoff matrix represents the long-run payoffs for two duopolists faced with the option of buying or leasing buildings to use for production. Determine whether any dominant strategies exist and whether or not there is a Nash equilibrium. Firm 1 Lease Building Buy Building Lease F1 = 500 F1 = 75
A) Is it possible that you would purchase more of a good if its price rose? Is it possible that you would buy less of a good whose price falls? WHY or WHY NOT? B) What is an inferior good? C) What is the only determinant of demand that can have changed if there is a change in quantity demanded? What if there is a change in d
Suppose the market demand data for the product are as follows: Price Total Quantity Demanded $26 17,000 32 15,000 38