The demand and supply for a product is given by:

Qd: 120-4P and Qs: 2P+60

Suppose the government imposes a price ceiling of P=$8

calculate:

1) consumer surplus after the price ceiling

2) Producer surplus after the price ceiling

3) Deadweight Loss

1. Fully integrating the idea of transaction utility and acquisition utility into your experience, provide and example of...

• something you did not buy even though it would have made you better off. (4 points)
• something you did buy that you don't really want or need. (4 points)

Both of the examples must explicitly apply the concepts of transaction utility and acquisition utility for full credit.

2. Search online for an example of Ariely's findings on Zero Price or Free. (Paste a picture in your response if you can.) Then answer the following questions.

1. What can you see in this example that directly relates to what Ariely found in his research. Be specific and include any suggestions you have on how they might be more successful. (5 points)
2. Design an experiment to test whether this example is, in fact, consistent with Ariely's findings on Zero Price. (5 points)
3. Thaler described a group of arguments that traditional economists use to dispute the behavioralist. Use one of those arguments and, assuming you are a traditional economist, describe why the findings of your proposed experiments as well as those of Ariely on Zero Price can be ignored. (5 points)

If you can not answer these questions with the example that you found, look for a better example.

3. Assume you are part of the team launching a new product.

1. Describe your new product to me. (2 points)
2. With explicit references to Ariely's findings on Anchoring and Self-Herding, how will you position this new product in the marketplace? (6 points)

2. Suppose a firm faces an inverse demand curve P = 6 − 1/2Q and has a total cost function TC = 1/4Q^2 − Q.

(a) Is this firm a price-taker or does it have market power? Explain. (2 points)

(b) Write an equation for the firm’s profit function. (1 point)

(c) Solve for the firm’s profit-maximizing level of output, Q∗ .

(2 points) (d) What price does the firm sell its product at? (1 point)

3. Draw a graph a supply and demand graph for a perfectly competitive market. Label the curves and equilibrium price and quantity. In a separate graph, do the same for a firm with market power (3 points) (a) Now assume consumers become less price sensitive (i.e. the demand curve becomes more inelastic), but this change does not affect the quantity demand at the equilibrium price (in other words, the market equilibrium does not change) (An example of this might be a prescription drug with some substitutes is taken off the market). Draw the new demand curves (label this D2) and, for the firm with market power, the marginal revenue curve (MR2). Show and explain how this affects the equilibrium price and quantity for the firm with market power. Label the new price P2 and the new quantity Q2 (3 points)

Banks manage Credit Risk as part of prudent lending policy, name and discuss each of the five main elements.  

6) Dodd Frank brought deep reforms to financial institutions. Name three significant changes to the law, and the nature and implications for each of these/  

1. Banks face challenges when making loans.

These include asymmetric information, define asymmetric information, provide an example, and then discuss impacts of adverse selection.

An additional risk is moral hazard, how does moral hazard have an impact?  

I need an analysis of Chipotle Mexican Grills's existing business model

3. Considering all monetary and fiscal policy tools available, which, if any, work best fighting

a. a recessionary gap? Explain.

b. an inflationary gap? Explain.

How do marketers use data from consumer activities on social media to influence purchase behavior?

3) A sticky goo oozes mysteriously from the rare wazoo tree, which grows only on the farm of Wolf Molder, just outside of Pullman, Washington. This goo, when smeared on the face, results in a tightening of the skin and the elimination of fine lines. Wolf bottles the goo at a cost of $2 per bottle and sells it to Donna Scali at a wholesale price of $w per bottle. Donna sells the goo to the general public over the Internet under the name “Youth Goo” at a price of $P per bottle. The retail demand for Youth Goo is given by P = 60 - .01Q. (a) Write Donna Scali’s profit as a function of the number of bottles of Youth Goo she sells over the Internet and the wholesale price, πD(Q;w). Write an equation characterizing Donna’s profit-maximizing choice of output as a function of the wholesale price w. (b) What is Wolf’s profit as a function of the number of bottles of Youth Goo he sells to Donna, πW(Q)? What is Wolf’s profit-maximizing choice of output? (c) What are the resulting values of the wholesale and retail prices? What are profits to Donna and Wolf? (d) Wolf offers Dana a contract in the form of two-part tariff, a wholesale price, w, and a fixed fee, F. Calculate the wholesale price that Wolf charges, the optimal quantity that Donna buys, and Donna’s optimal price. What should be the range of the fee so that Donna would accept the offer and Wolf prefers this system? (e) After a long Internet courtship, Wolf and Donna decide to become partners in business and in life. After combining their separate businesses (Youth Goo production and retail distribution, respectively), they conclude that they could make larger combined profits by choosing a different level of output. What is their new profit-maximizing level of output Q** and retail price P**? What are their new profits?

You are the manager of a local sporting goods store and recently purchased a shipment of 60 sets of skis and ski bindings at a total cost of $25,000 (your wholesale supplier would not let you purchase the skis and bindings separately, nor would it let you purchase fewer than 60 sets). The community in which your store is located consists of many different types of skiers, ranging from advanced to beginners. From experience, you know that different skiers value skis and bindings differently. However, you cannot profitably price discriminate because you cannot prevent resale. There are about 20 advanced skiers who value skis at $400 and ski bindings at $275; 20 intermediate skiers who value skis at $300 and ski bindings at $400; and 20 beginning skiers who value skis at $200 and ski bindings at $350. What is your maximum revenue if you charge a separate price for skis and bindings? $ What is your maximum revenue if you sell skis and bindings as a bundle? $

please Im really lost on that one

3) A sticky goo oozes mysteriously from the rare wazoo tree, which grows only on the farm of Wolf Molder, just outside of Pullman, Washington. This goo, when smeared on the face, results in a tightening of the skin and the elimination of fine lines. Wolf bottles the goo at a cost of $2 per bottle and sells it to Donna Scali at a wholesale price of $w per bottle. Donna sells the goo to the general public over the Internet under the name “Youth Goo” at a price of $P per bottle. The retail demand for Youth Goo is given by P = 60 - .01Q.
(a) Write Donna Scali’s profit as a function of the number of bottles of Youth Goo she sells over the Internet and the wholesale price, πD(Q;w).
Write an equation characterizing Donna’s profit-maximizing choice of output as a function of the wholesale price w.
(b) What is Wolf’s profit as a function of the number of bottles of Youth Goo he sells to Donna, πW(Q)?
What is Wolf’s profit-maximizing choice of output?
(c) What are the resulting values of the wholesale and retail prices?
What are profits to Donna and Wolf?
(d) Wolf offers Dana a contract in the form of two-part tariff, a wholesale price, w, and a fixed fee, F. Calculate the wholesale price that Wolf charges, the optimal quantity that Donna buys, and Donna’s optimal price. What should be the range of the fee so that Donna would accept the offer and Wolf prefers this system?
(e) After a long Internet courtship, Wolf and Donna decide to become partners in business and in life. After combining their separate businesses (Youth Goo production and retail distribution, respectively), they conclude that they could make larger combined profits by choosing a different level of output. What is their new profit-maximizing level of output Q** and retail price P**?
What are their new profits?

Which of the following scenarios is consistent with the speculative motive for the demand for money?

Group of answer choices

Afraid of losing his job, Jacob decides to start saving money.

John decides to keep money in his checking account rather than a savings account because the interest rate is so low.

Mei sets aside a portion of her income each month into a health savings account because she believes that she may need expensive surgery in the future.

Mary withdraws funds from her retirement account to help her deal with price inflation.