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Microeconomics

Scenario assessment and regulation unregulated impact to economic model

Consider a situation where a city is considering services from one cable provider in a given area. Given the demand and total cost functions of P = 28 - 0.0008Q TC = 120,000 + 0.0006Q2 Where Q is number of cable subscribers and P price in dollars of monthly cable service. 1. How many cable subscriber

Wage or Salary Guidelines

Does the US Army have wage and salary increase guidelines? If so, explain the guidelines, and indicate how closely they are followed. If your organization does not have wage and salary increases guidelines, set forth and explain your own guidelines that could aid your organization's management.

Maximize Profit Functions

If total cost in $ is given by C(x) = 2x^2 + 4x + 50 and total revenue in $ is given by R(x) = 100x where x is units, find the a. Profit function: b. Marginal Profit Function: c. x that maximizes profit: d: Maximum Profit:

Shut-down decision, net operating income

Company A has 2 divisions - north and south and their data is as follows: North South Sales 900,000 800,000 Variable expenses 450,000 300,000 Traceable Fixed Expenses 260,000 210,00

Current ratio/quick ratio

Figure out current ratio and quick ratio as per this data: Current Assets: Cash 14,000 Accounts Receivable 45,489 Inventory 39,239 Prepaid expenses 3,400 total current assets 102,128 Current Liabilities: Accounts payable 98,789 Other current liabilities 3,456 Total Current liabilities 102,245

Inferior Good

Why do poorer people buy more lottery tickets (an inferior good), than wealthy people. Include graphs to demonstrate.

Suppose that an industry in your nation was

Suppose that an industry in your nation was "hard hit" by imported goods, causing sales to drop and many people to loose their jobs. Should the government take any action? If actions should be taken, what should be done?

Pros and Cons of Unions

Explain the logic of each of the following statements: a. By constraining the decisions of management, unions reduce efficiency and productivity growth. b. As collective-voice institutions, unions increase productivity by reducing worker turnover, inducing managerial efficiency, and enhancing worker security.

an indifference curve

Is a consumer better off at a lower point on a higher indifference curve than a higher point on a lower indifference curve? I understand the answer is yes, but I dont understand why....Need a detailed explanation...

Problems Involving Indifference Curves

Im trying to do a problem where I am being asked to show how a consumers indifference curves for 2 goods are affected by the realization that one of the goods is causing him harm.

Law of diminishing marginal productivity

Part of Jan and Lee's summer vacation income comes from renting some land and growing strawberries. Here is how their strawberry output increases as they add more land to work with: What is the marginal product of each additional quarter acre? Fill in the blanks in the table. VARIABLE INPUT (ACRES) TOTAL PRODUCT (POU

Average Fixed Cost

A firm is producing 100 units of output at a total cost of $800. The firm's average variable cost is $5 per unit. The firm's: a. marginal cost is $8. b. total variable cost is $300. c. average fixed cost is $3. d. average total cost is $500. You must show these math calculations.

Derive total revenue, average revenue, plot graph

Given the following total-revenue function: TR = 9Q - Q² (a) Derive the total-revenue, average-revenue, and marginal-revenue schedules from Q = 0 to Q = 6 by 1s (b) On the same set of axes, plot the total-revenue, the average-revenue, and the marginal-revenue schedules of part (a) (c) With reference to your figu

Reduce the Problem of Excessive Drinking

A club charged its customers an upfront fee to be able to drink an unlimited amount of alcohol. Since excessive drinking was seen as a problem the club started charging per drink. What are two other solutions besides a per drink fee to solve the problem of excessive drinking?

Intellectual property rights..

Microsoft is very concerned about the enforcement of intellectual property rights for its Windows Operating System. Question: What property does the enforcement of intellectual property rights give the Windows Operating System? Is this correct: The enforcement of intellectual property rights gives Microsoft exclusitivi

Marginal cost Lerner index

The problem states to find the lerner index for a company that sells sticks at $150 and it cost $45 to produce the stick. The lerner index is d= 1- (MC/P) I know I have to find the marginal cost to plug into the equation but I'm not sure how to find the marginal cost.

Profit Maximization

A firm in oligopolistic industry has the following demand and total cost equations: P= 600 -20Q TC = 700 + 160Q + 15Q(squared) Please Calculate and show calculations a. quantity at which profit is maximized. b. maximum profit c. quantity at which revenue is maximized d. maximum revenue e. maximum quantity at which

Profit maximization of a monopolist

A monopolist sells to two consumer groups, wives and mothers. Demand for wives: Q = 500 -1/2 P Demand for mothers: Q = 750 -2P MC = 20 Please find the profit-maximizing price/quantity combination in each market if the groups can be separated. Please show calculations. Thank you.

The Cellar-Kefauver Act of 1950

The Cellar-Kefauver Act of 1950 was passed to close loop-holes in the: a. Sherman Antitrust Act b. Robinson-Patman Act c. Clayton Act d. Wheeler-Lea Act e. Federal Trade Commission Act

Contingency Fee for a Lawyer

Question: What contingency fee (percent of winnings) is the minimum amount that would induce the plaintiff's lawyer to choose "above average effort" over "average effort"? Given info - attached.

The Zinger Company

The Zinger Company manufactures and sells a line of sewing machines. Demand per period (Q) for a particular model is given by the following relationship: Q = 400 - .5P where P is price. Total costs (including a "normal" return to the owners) of producing Q units per period are: TC = 20,000 + 50Q + 3Q2. What is the margina

The Zinger Company

The Zinger Company manufactures and sells a line of sewing machines. Demand per period (Q) for a particular model is given by the following relationship: Q = 400 - .5P where P is price. Total costs (including a "normal" return to the owners) of producing Q units per period are: TC = 20,000 + 50Q + 3Q2. What price will be

Tax Breaks and Current US Adminstration

The current US administration has provided some tax breaks to a section of the economy. Some economists view these incentives as the wrong move. What do you think is the rationale behind this argument? Please discuss briefly.

Price as a function of Quantity

A park has a capacity to hold 60,000 people on any particular day. Using third degree price discrimination - demand for 2 groups (boys & girls) is: Q /6000 + P = 8 Q / 6000 + P = 6 b b g g The hint provided is: Marginal Revenue in the two markets