As the owner of the only tennis club in an isolated wealthy community, you must decide on membership dues and fees for court time. There are two types of tennis players. "Serious" players have demand Upper Q 1 equals 10 minus Upper PQ1=10−P where Q1 is court hours per week and P is the fee per hour for each individual player. There are also "occasional" players with demand Upper Q 2 equals 4 minus 0.25 Upper PQ2=4−0.25P Assume that there are 1 comma 0001,000 players of each type. Because you have plenty of courts, the marginal cost of court time is $00. You have fixed costs of $15 comma 00015,000 per week. Serious and occasional players look alike, so you must charge them the same prices. a. Suppose that to maintain a "professional" atmosphere, you want to limit membership to serious players. How should you set the annual membership dues and court fees (assume 52 weeks per year) to maximize profits, keeping in mind the constraint that only serious players choose to join? What would profits be (per week)?  (round your answers to two decimal places)

1. If the reserve ratio at the Toronto Dominion Bank is 2.5% and $40,000 is deposited, how much money is created if all available funds are loaned to firms and individuals?

2. What impact will the decrease in interest rate have on investment, unemployment, GDP, household income, and prices? (increase or decrease)

What is the pricing strategy of AB InBev. company?

1.

a. A firm is currently in equilibrium. They use workers and capital in production. Suppose that they undergo a positive technology​ change, making workers more productive. How will this affect their choice of labor used in​ production? When will they stop making​ changes, if​ any

b. In early​ 2018, President Trump endorsed a 25​ cent-per-gallon gas tax increase. Would this tax be​ progressive, regressive, or​ proportional?

Investment is ________ related to the interest rate, while net capital outflow (NCO) is ________ related to the interest rate.

Using the information in the table shown, what is the inflation rate in 2014?

As new goods and services become available:

Many governments actively work to:

Koala Entertainment Limited (KEL) is a leading entertainment, artists and performance brokerage agency （演出經紀機構） in Australia. KEL founder Mr Wright realised that China is a world-class media and entertainment platform and wants to begin penetrating the firm’s popular musical, magic shows there, but KEL has little international experience. Mr Wright is unaware of the various types of investment and nontariff trade barriers that KEL might face in China.

Q. What can KEL management do to minimise the threat of government intervention? Explain the FOUR strategies with an example based on the above case. (~300 words)

Below are six strategies and only four is needed.

• Research to gather knowledge and intelligence. Understand trade and investment barriers abroad. Scan the business environment to identify the nature of government intervention.

• Choose the most appropriate entry strategies. Most firms choose exporting as their initial strategy, but if high tariffs are present, other strategies should be considered, such as licensing, or FDI and JVs that allow the firm to produce directly in the market.


• Take advantage of foreign trade zones. FTZs are areas where imports receive preferential tariff treatment, intended to stimulate local economic development. e.g., A successful experiment with FTZs has been the maquiladoras — export-assembly plants in northern Mexico.

• Seek favourable customs classifications for exported products. Reduce exposure to trade barriers by ensuring that products are classified properly.


• Take advantage of investment incentives and other government support programs.

• Lobby for freer trade and investment. Increasingly, nations are liberalizing markets in order to create jobs and increase tax revenues.

QUESTION 9 - 5.2

What is the supply response character for agricultural output in the short run?

QUESTION 10 - 5.2

What happens to the degree of industry concentration if existing firms merge or buy out competitors?

QUESTION 1 - 6.1

Suppose you operate a wholesale business that sells and delivers bulk coffee to office break rooms. You are the only firm that provides this service in your city, so you hold a local monopoly position in this market. If the price of gasoline declines for your delivery fleet, your marginal cost curve will shift downward. What happens to your profit maximizing level of output?

QUESTION 2 - 6.1

Which of the following statements is true?

QUESTION 7 - 6.3

I dislike using Microsoft Word and prefer to use other work processing software. However, nearly everyone that I work with uses Word, so I have to use this product when writing articles, books, and other research reports. For this reason, Microsoft Word holds a near-monopoly position in the word processor market. What is the barrier to entry that helps Microsoft maintain their market power?

QUESTION 8 - 6.3

Suppose there are 100 firms that sell athletic shoes and each has one percent of the market share. What is the HHI statistic for this market?

QUESTION 9 - 6.3

Suppose there are six firms in the breakfast cereal market. The four largest firms have 20 percent of the market share each, and the two smallest firms have 10 percent of the market share each. If one of the largest firms buys one of the smaller firms, what is the market share of the largest firm in the market after the buyout is concluded?

QUESTION 10 - 6.3

What happens to the profits of monopolistically competitive firms in the long run?

The sandwich shop is a restaurant that serves only one item, the ham sandwich. The restaurant serves two groups of customers, younger adults and senior citizens. The two segments have the following demand functions: younger adults, Q_y = 5,000 – 10P_y and senior citizens, Q_s = 10,000 – 100P_s. The restaurant has constant marginal cost of $10 and no fixed costs.

(4)a. Write the inverse demand and marginal revenue functions for each segment of the ham sandwich market.

(4)b. What are the profit maximizing price and quantity for each segment and how much profit will he earn?

(4)c. What are the price elasticities of demand for each segment at the prices and quantities you determined in part “b”

Short-answer Questions and Problems: Be thorough, clear, and show your work.

1.) In a perfectly competitive market, price is equal to marginal cost in the long run. Explain why this is not true for a monopolist or for firms in a monopolistically competitive market.

2.) Suppose Pizza Hut raises its price by 8%, and as a result, the demand for Little Caesar’s pizza goes up by 4%.

a.) What is the cross-price elasticity of demand for Pizza Hut and Little Caesar’s?

b.) Does your answer to part a indicate that these products substitutes or complements? Explain.

c.) What could Pizza Hut do to make it more likely that that they would increase their total revenue even after this price increase? (Draw only upon the material in chapters 11 and 12 for your answer.)

3.) Briefly explain one idea from microeconomics (a concept, a claim, a model, …) that you did not know before taking this course and that you found interesting or useful. Briefly explain the idea and briefly explain why you find it interesting or useful.

4.) Give an example of a Prisoner’s Dilemma situation. Clearly explain the situation, including the strategies available, the dominant strategy for each side, and the Nash equilibrium (i.e., the outcome that is most likely). Clearly explain why that outcome is most likely. Use a matrix to present your example very clearly (feel free to draw this matrix using Word or attach a picture drawn by hand). Offer two suggestions on how the participants could get out of this situation to their mutual benefit—i.e., how they could end up in the result that benefits both.

There is nothing more on this paper. What do you need more on?

The local indigenous communities will be relocated from the area the houses are built upon. The leaders of the communities object, but their combined contribution to the market economy (measured with GDP) is negligible. Using internet research discuss the weaknesses of GDP as a measure of welfare. Describe the three parts to Wight’s taxonomy of ethical action and apply it to the decision whether to go ahead with the project

How does culture affect the way people do business?

You need to make it clear what culture means to you before you start to discuss the question.