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Microeconomics

What is the Efficient Outcome?

A mill and fishery operate on a river. The fishery can operate at one of two locations - upstream or downstream. Pollution lowers the profits of the fishery: without pollution, profits are $300 upstream and $500 downstream. With pollution, profits are $200 upstream and $100 downstream. The mill earns $500 profit. Technology is

Movie Theater Price Discrimination

You run a chain of movie theaters, so you commission a marketing study that categorizes your potential customers into 10 equal-sized groups according to what they're willing to pay for a movie, ($10,$9,$8,$7,$6,$5,$4,$3,$2,$1). It turns out that the low-value customer groups, those with values ($5,$4,$3,$2,$1), are all over 65

Analyze the current market conditions of Burger King.

In 400-500-words, analyze the current market conditions of Burger King. Address the following topics in the analysis: A. Market structure B. Impact of new companies entering the market C. Prices Please provide reference(s)so I that I could refer to it. If possible, please use references from the U.S. Thanks!

Profit maximizing price

Indoor Water Park caters to both locals and out-of-state visitors. The demand for day-passes to the water park for each market segment is independent of the other market segment. The marginal cost (which also equals the average variable cost) of providing service to each visitor is $5 per day. Its fixed costs are $10,000 per day

Plotting help - Please see attached file

When you gather data note prices and number of cars at each station. Use the number of cars for all stations to calculate market share. Then plot market share against price. I cannot figure out how to plot this in excel. Could you give me a quick tutorial in excel and show me how this is done. I have the data. See below. T

Inventory Control Methods

Jim Overstreet, inventory control manager for Itex, receives wheel bearings from Wheel-Rite, a small producer of metal parts. Unfortunately, Wheel-Rite can only produce 500 wheel bearings per day. Itex receives 10,000 wheel bearings from Wheel-Rite each year. Since Itex operates 200 working days each year, its average daily dema

Hypothesis Testing - 15.18 Sixty-four students in an introductory college economics class were asked how many credits they had earned in college, and how certain they were about their choice of major. Research question: At α = .01, is the degree of certainty independent of credits earned? ... [See the attached Question File.]

15.18 Sixty-four students in an introductory college economics class were asked how many credits they had earned in college, and how certain they were about their choice of major. Research question: At α = .01, is the degree of certainty independent of credits earned? Certainty Credits Earned Very Uncertain Somewhat Cer

Cost, Volume and Breakeven Point, Cost Concepts and Design Economics: Estimate the cost of purchasing a lot, building a house and furnishing it using the following unit cost estimates ...

Estimate the cost of purchasing a lot, building a house and furnishing it using the following unit cost estimates: Size of property 100*150 feet House size 6 rooms, 50*46 feet with 75% of livable space Price of property in area: $2.50/square foot Average cost of construction $125/usable square foot Furniture $3,000 per ro

Accounting profit

Would any of the following be considered accounting profit? Research and Development Selling and Administrative Expenses Non Recurring Expenses.

Second Degree Price Discrimination

"Will a monopolist's total revenue be larger with second-degree price discrimination when the batches on which it charges a uniform price are larger or smaller? Why?"

Npv

Discuss how NPV is calculated and state the decision rule.

NPV

A proposed project should be accepted if the net present value is a. positive. b. negative. c. larger than the internal rate of return. d. smaller than the internal rate of return.

Consumer Surplus Analysis

Please help me with the given microeconomics problem for an assignment: There are six potential consumers of computer games, each willing to buy only one game. Consumer 1 is willing to pay $40 for a computer game, consumer 2 is willing to pay $35, consumer 3 is willing to pay $30, consumer 4 is willing pay $25, consumer 5 is

On Thursday nights, a local restaurant has a pasta special.

On Thursday nights, a local restaurant has a pasta special. Ari likes the restaurant's pasta, and his willingness to pay for each serving is shown in the accompanying table. Quantity of pasta (Servings) Willingness to pay for pasta (per serving) 1 $10 2

Mutual interdependence means that

Mutual interdependence means that a. all firms are price takers. b. each firm sets its own price based on its anticipated reaction by its competitors. c. all firms collaborate to establish one price. d. all firms are free to enter or leave the market.

Which of the following is not true about the law of diminishing returns?

Which of the following is not true about the law of diminishing returns? a. It is a short run phenomenon. b. It refers to diminishing marginal product. c. It will have an impact on the firm's marginal cost. d. It divides Stage I and II of the production process. e. All of the above are true.

Command Process - Example

5. Which of the following is the best example of the "command" process? a. MCI-Worldcom buys Sprint. b. Striking auto workers force General Motors to shut down its factories. c. Banks raise their fees on late payments by credit card holders. d. The FCC requires local telephone companies to provide ac

Effect of Increase in Per Capita Disposable Income.

Please help with the following problems. Q= 400 - 3P + 4I + 0.6A Q=quantity demanded P=price I= per capita disposable income A= advertising expense Population is constant 1) Over the next 10 years per capita, disposable income is expected to rise by $5,000. What effect will this have on the firm's sales?

Economics

How do the payroll taxes levied on the earnings of workers affect their decisions about how much leisure they consume? When the government taxes younger people to pay benefits to older people, how does this affect the amount of assistance that younger people might voluntarily choose to offer older people? When the governme

Optimal Revenue, Price vs. Capacity Problem

On an air rout, an ailine offers two classes of service: busienss (B) and economy (E). The respective demands are given by: For B - P= 540-.5Q For E - P= 380-.25Q Because of ticketing restrictions business travelers cannot take advantage of economy's low fare. The airline operates two flights daily. Each Flight has a