I am having difficulties with figuring out the formulas for this
this question. Is there a walk-through for this?
You are the manager of a monopoly that sells a product to two
groups of consumers in different parts of the country. Group 1’s
elasticity of demand is -2, while group 2’s is -3. Your marginal
cost of producing the product is $30.
a. You are a monopolist.
b. You compete against one other firm in a Cournot oligopoly.
c. You compete against 19 other firms in a Cournot oligopoly.
In: Economics
What are the arguments against additional federal fiscal spending in the next three months? Timeline is today's current economic and political climate. Thorough answer please, Thank you.
In: Economics
NOTE FROM STUDENT: Please be very descriptive, examples, etc
What is the difference between and the use of Reference Pricing and Anchor Pricing? (10 points)
In: Economics
In: Economics
What are possible exchange rate regimes and what is the world’s most practiced regime currently and why (reasons)? Also discuss the pros and cons of each regime.
In: Economics
Comment critically (find facts about the policy actions and evaluate them in the context of the material): ‘The negative supply shock caused by the corona virus will devastate the economy. Fearing that there would be stagflation, the Federal Reserve and the Government independently have taken actions. Yet some critiques asserted that the actions of the policy makers will not be sufficient or relevant.”
In: Economics
Compare and Contrast Various Selling Models
The purpose of this assignment is to compare and contrast two or more competing selling models. The basis for this paper will be The Challenger Sale (Dixon and Adamson) versus Strategic Selling (Miller & Heiman).
Your arguments should provide rationale for your position and relate to specific outcomes (e.g., closing business, positioning as a business partner/consultant, long term relationship building, etc.)
In: Economics
An industry's inverse demand was PD = 20 - 0.1Q and its inverse supply was PS = 4 + 0.1Q.
a. Calculate the consumer surplus, producer surplus, government revenue and deadweight loss for taxes of $4, $8, $12 and $16 per unit sold.
b. Graph government revenue and deadweight loss as functions of these tax rates.
c. What tax maximizes government revenue?
In: Economics
Suppose both Smith and Jones utility functions of U(X,Y) = X1/2Y1/2. Smith is endowed with (X, Y) = (9,25) and Jones is endowed with (X, Y) = (25,9).
a. Draw an Edgeworth box with indifference curves through this endowment.
b. At what combinations of X and Y are both better off (i.e., are Pareto Improving)?
c. At what combinations of X and Y are there no more gains from trade (i.e., are Pareto Efficient)?
d. If they agreed on a price of one X for one Y, would they be better off?
In: Economics
Current and future role of business in society
In: Economics
Suppose price-taking firms have cost functions given by C(q) = 90 + 5q + 0.025q2.
a. What are the equations of marginal costs and average costs?
b. How much would the firm produce at prices of $9, $10, $11, and $12?
c. How much profit would the firm earn at prices of $9, $10, $11, and $12?
d. Graph the MC, AC. Indicate the profits at a price of $9 per unit.
e. What price would be charged in the perfect competitive equilibrium?
In: Economics
In: Economics
The following table provides the project annual budget, total number of projects, and total number of people working on the projects for City of Killingcovid annually:
Year |
Annual Budget (in millions) |
Number of Projects |
Number of People Working on the Projects |
1997 |
9.93 |
2 |
6 |
1998 |
7.34 |
8 |
47 |
1999 |
6.82 |
4 |
134 |
2000 |
7 |
2 |
291 |
2001 |
7.31 |
7 |
279 |
2002 |
7.86 |
6 |
82 |
2003 |
8.44 |
4 |
65 |
2004 |
7.61 |
5 |
34 |
2005 |
7.8 |
1 |
14 |
2006 |
8.6 |
4 |
249 |
2007 |
8.25 |
2 |
174 |
2008 |
8.7 |
3 |
346 |
2009 |
10.89 |
2 |
3 |
2010 |
10.53 |
1 |
8 |
2011 |
11.77 |
2 |
13 |
2012 |
11.44 |
4 |
24 |
2013 |
10.95 |
6 |
534 |
2014 |
11.12 |
2 |
6 |
2015 |
10.73 |
2 |
28 |
2016 |
11.39 |
1 |
18 |
2017 |
11.3 |
3 |
25 |
2018 |
11.27 |
2 |
54 |
For A to F, use the data between Yr 2006 and Yr 2015 to calculate the following:
A. The mean of the
Number of People Working on the Project.
B. The median of the Budget.
C. The range of Budget.
D. The variance (3 significant figures) of Number of
Projects.
E. The standard deviation (nearest integer) of Number of People
Working on the Project.
F. The 20% trimmed mean of Number of Projects.
G. Draw a dot plot
comparing the Number of People Working on the Project from Yr 1997
to Yr 2006 and those from Yr 2009 to Yr 2018.
H. Using the data for Annual Budget from Yr 2001 to Yr 2017, draw a double stem leaf plot, then calculate the relative frequency.
In: Economics
Depreciation is a tough concept since there may be so many factors associated with it. The IRS changes the tax deductions given for depreciation on a regular basis. On a larger purchase the tax deduction may be significant. How much of a factor do you think depreciation should be on the decision to move forward with a project? For example, if the tax benefit is greater in the following year, should management hold off on the purchase? Do you feel that managers understand this concept well enough to include it in their decision making process?
In: Economics
In: Economics