Determine whether the Justice Department would challenge a merger between two firms in an industry with 10 equalized firms, based on the Herfindhal index guidelines. (No other factor considered)
Please help with the following questions. Does the PPC illustrate increasing or decreasing opportunity cost? What is the opportunity cost for this student for the additional amount of study time on economics required to mover her grade form 60 to 70? What is the opportunity cost for this student for the additional am
15. Nationwide Bank has approached Hometown Bank with a proposal to merge. The following table lists the sales of the banks in the area. Use this information to calculate the four-firm concentration ratio and the Herfindahl-Hirschman index. Based on the FTC and DOJ Horizontal Merger Guidelines described in the text, do you thi
Brian is taking three courses this semester: economics, statistics, and finance. He has decided to spend 19 hours per week studying (in addition to attending all his classes) and his objective is to maximize his average grade, which means maximizing the total of his grades in the three courses. The table shows Brianâ??s estimat
One of the scarce resources that constrain our behavior is time. Each of us has only 24 hours in a day. How do you go about allocating your time in a given day among competing alternatives? How do you go about weighing the alternatives? Once you choose a most important use of time, why do you not spend all your time on it? Use the notion of opportunity cost in your answer.
One of the scarce resources that constrain our behavior is time. Each of us has only 24 hours in a day. How do you go about allocating your time in a given day among competing alternatives? How do you go about weighing the alternatives? Once you choose a most important use of time, why do you not spend all your time on it? Use t
The table attached shows the willingness to pay for various units of a public good for the only two individuals in a society. The willingness to pay is the willingness to pay per unit of the public good. For example, person 1 is willing to pay $55 per unit of the public good for two units. To put it another way, if the price t
Why might a profitable motel shut down in the long run if the land on which it is located becomes extremely valuable due to surrounding economic development? What kinds of costs are involved in making a decision to shut down?
When you study, how might you know that you are at a point of diminishing returns, or where more study will not benefit you like it did before? Can you identify any of the costs that would help you decide how much study is enough?
On the island of Pago Pago there are 2 lakes and 20 anglers. Each angler can fish on either lake and keep the average catch on his particular lake. On Lake x, the total number of fish caught is given by: F^x = 10Lx - 1/2 L^2x, where Lx (l subcript x) is the number of people fishing on the lake. For Lake y, the relationship is: F^y = 5Ly A. Under this organization of society, what will be the total number of fish caught? B. The chief of Pago Pago, having once read an economics book, believes it is possible to raise the total number of fish caught by restricting the number of people allowed to fish on Lake x. What number should be allowed to fish on Lake x in order to maximize the total catch of fish? What is the number of fish caught in this situation? C. Being opposed to coercion, the chief decides to require a fishing license for Lake x. If the licensing procedure is to being about the optimal allocation of labor, what should the cost of a license be (in terms of fish)? D. Explain how this example sheds light on the connection between property rights and externalities.
On the island of Pago Pago there are 2 lakes and 20 anglers. Each angler can fish on either lake and keep the average catch on his particular lake. On Lake x, the total number of fish caught is given by: F^x = 10Lx - 1/2 L^2x, where Lx (l subcript x) is the number of people fishing on the lake. For Lake y, the relationshi
1. Consider the following linear programming problem: Maximize 2X + Y Subject to: X + 2Y â?¤ 100 X â?¥20 Y â?¥30 You are solving this problem graphically using the corner point method. a. List all the corner points of the feasible region. Briefly de
Answer should be related to a U.S. company 1. a. Set forth and explain in detail the concept of pay for performance. b. Do you believe that pay for performance is the most ethical and efficient payment system? Explain in detail why or why not.
Give a brief summary of economic costs. In the short-run, why might a firm still operate even when there is a loss. Explain the law of diminishing returns in your own words. This idea can be applied to almost anything in economics. Think about your own utility from consumption. Give a personal example of diminishing utility.
The economic analysis division of Mapco Enterprises estimated the demand function for its line of weed trimmers as Qd = 18,000 + 0.4N - 350Pm + 90Ps where N= number of new homes completed in the primary market area Pm = price of Mapco trimmer Ps = price of its competitor's Surefire trimmer In 2006
Suppose a business experiences a sudden increase in its fixed costs. For example, suppose property taxes increase dramatically. What impact, if any, will this have the firm's AFC (average fixed cost), AVC (average variable cost), ATC (average total cost) and MC (marginal cost) and therefore these cost curves? Why?
discuss the advantages and disadvantages of EMRs
Describe in your own words the law of diminishing marginal returns.
You are the manager of a firm that produces products X and Y at zero cost. You know that different types of consumers value your two products differently, but you are unable to identify these consumers individually at the time of the sale. In particular, you know there are three types of consumers (1,000 of each type) with the f
Suppose Qd = 10,000-2Px+3Py-4.5M, where Px = $100, Py = $50, and M = $2,000. What is the own-price elasticity of demand? A. -2.34 B. -0.78 C. -0.21 D. -1.21
Should the club cover explicit and implicit costs? Imagine that you are asked to consult with a drama club that puts on a play every year. The club asks you: How much should we charge for tickets if we want to cover our costs? You begin by listing the club's explicit costs and implicit costs and then make a recommendation whethe
The fully allocated cost of a product is $45. If the firm wants to use a markup of 30%, then it should charge what unit price?
An individual is indifferent between a certain payment of $20 and a game that will pay $50 or nothing with equal probabilities. The individual has a certainty equivalent coefficient of what? 0.20 0.40 0.80 2.50
Combinations Qty Corn Qty Potatoes A 500 1650 B 550 1460 C 600 1280 D 650
When Walt Disney built Disneyland in Anaheim, California; he failed to realize the impact on the neighboring properties. When Walt Disney World in Orlando, Florida, was conceived, Disney did not want a repeat of Anaheim. Disney secretly began purchasing property in the Orlando area. Disney formed hundreds of fake companies to
Suppose a monopolist sells its good to three people. Each person can only purchase one good. The first person is willing to pay $20 for the good, the second person is willing to pay $18, and the third is willing to pay $16. If these three people make up the entire market for this monopolist, the monopolist would face the demand
A risk-averse manager is considering a project that will cost $100. There is a 10 percent chance the project will generate revenues of $100, an 80 percent chance it will yield revenues of $50, and a 10 percent chance it will yield revenues of $500. Should the manager adopt the project? Explain
Manning Industries manufactures and sells three different models of wet-dry shop vacuum cleaners. Although the shop vacs vary in terms of quality and features, all are good sellers. Manning is currently operating at full capacity with limited machine time. Sales and production information relevant to each model follows.
If you could, How would you measure the overall financial health of Walmart? What are the good and/or the bad signs, if any, in your outlook?
General Motors (GM) In 250-300 words, discuss the market structure in which General Motors operates and what strategies they used to maximize profit. What segment market should General Motors (GM) target in the U.S. based on today's economic status? If GM go into liquidation, should there be government intervention a
Need to compare my answers (45min) Thanks (I need this in 10 MINUTES) the text for 14 is Refer to Figure 7-1. When the price is P1, consumer surplus is a A. b A + B. c A + B + C. d A + B + D.
Identify one or more negative externalities that have an affect on an individual. Could existing or proposed laws have prevented this from happening?"
1. Identify one or more negative externalities that have an affect on an individual. Could existing or proposed laws have prevented this from happening?" 2. What are public goods? Why these goods are not produced in the private sector?