Annual revenues are used to predict the value of a baseball franchise. A sample of 32 franchises was used. An analysis of variance of these data showed that b1= 5.0785 and Sb1 = 0.2357.

a. At the 0.05 level of​ significance, is there evidence of a linear relationship between annual revenue and franchise​ value?

b. Construct a​ 95% confidence interval estimate of the population​ slope, β1.

a: Compute the test statistic. tSTAT= ​(Round to four decimal places as​ needed.)

The critical​ value(s) is(are) ​(Round to four decimal places as​ needed.)

b: The​ 95% confidence interval is ____ ≤ β1 ≤ ____ ​(Round to four decimal places as​ needed.)

3. A single-price monopolist has the schedules given in the table below.

a. Determine the profit-maximizing level of output, price as well as the amount of profit or loss at this level. Clarify how you obtain the answer.

…………………………………………………………………………………………………..

…………………………………………………………………………………………………..

…………………………………………………………………………………………………..

b. Compare between the perfect competition and monopoly market structure.

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[Total: 10 marks]

Suppose that the world price for a good is 120 and the domestic demand-and-supply curves are given by the following equations:

                                                          Demand: P = 200 – 8Q

Supply: P = 20 + 10Q

      a. How much is domestic consumption?

      b. How much is domestic production?

      c. Calculate the values of consumer and producer surplus.

      d. If a tariff of 30% is imposed, how much do consumption and domestic production change?

      e. What is the change in consumer and producer surplus?

      f. How much revenue does the government earn from the tariff?

      g. What is the net national cost of the tariff?

Market demand and supply for a commodity are given by the following equations:

Demand: X = 30 – (1/3) P

Supply: X = -2.5 + (1/2) P where X= quantity (units), and P=price per unit ($)

Suppose that the government is planning to impose a tax on this commodity and considering the following two options:

Option 1: A unit tax of $15 Option 2: An ad valorem tax of 20%

a) Find the tax incidence on buyers and producers, and the tax revenue of the government under each the two options

b) Compare the two options in terms of their welfare costs

The City Sky Co is a property investment and development company. Recently the company purchased a vacant piece of land south of Brisbane on which it is planning to build 15 apartments to sell. The City Sky Co has engaged the services of the local lawyer, Maurice Blackburn, to provide the legal services required for the development for $33,000. Maurice Blackburn runs an established sole trader business and turns over revenue of $300,000 per year. Advise The City Sky Co of the input tax credit entitlements that they may be entitled to. Assume that The City Sky Co is registered for GST purposes.

Consider a country’s domestic market with demand and supply functions: Supply function: ? = 40? − 40 Demand function: ? = 200 − 20?

As the country joins the international trade, the world price for the good is given as $2. a. Is this country exporting or importing? If so, what is the size of export or import?

Now, the government decides to impose $1 tariff to protect its industry. b. Find the size of tariff revenue. Draw a graph before/after the tariff, and clearly mark regions for deadweight loss.

c. Who (among sellers and buyers) benefits from the tariff? Why?

The demand curve for X goods is Xd=100-10P and the supply curve is MCx=1. The demand curve for Y goods is Yd=100-20P and the supply curve is MCy=1. A tax of $2 per unit on goods X and no tax on goods Y.
a. Calculate tax revenues and excesses in X goods.
b. Explain the total tax revenue and excess burden if you reduce the tax on goods X to one dollar and impose one dollar per unit on goods Y.
c. Explain which tax system is more desirable.

Production economic principles and the theory of the firm form the basis for analysing decisions by businesses about what goods and services to produce, how many goods and services to produce, and how to produce goods and services. Drawing on your understanding of the concepts of production functions, total, average, marginal, fixed and variable costs of production, and output and revenue, and using labelled diagrams, explain the key principles and measures a manager of a business would use to decide how much of a variable input to use in a production process and how much total product to make in a production cycle.

I want a 10 page introduction and literature review on

“ACHIEVING ECONOMIES OF SCALE AND SCOPE THROUGH STRATEGIC REACTIVATION OF THE RADIOLOGY DEPARTMENT; -THE CASE OF MY HOSPITAL.

Background: My hospital has been without a functional radiology department for the past at least 5 years because they could not get a specialist doctor Radiologist to run the department.

All clients requiring such radiological services were outsourced to nearby facilities leading to loss of revenue.

Management, a few years ago, strategically decided to reactivate the Radiology department by employing a full time Radiologist to run the department.