Search & Filtering
Suppose you are a monopolist and find that the demand elasticity of your product is different in two markets. What would be your pricing strategy?
Show diagrammatically the impact on the firms profit if in the short run demand or the product reduces.
given market demand Q=100-P if the market supply function for the smaller firms is given by S=0.5P. And the cost function of the dominant firms is TC=10+40QD, where QD= output of the dominant firm. a) Find the market price and output of the dominant firm at equilibrium. b) Find the output level to be supplied by the smaller firms.
1) If the total production function given as: TP = 16L2 - 0.4L3 then;
A) Find the maximum value of APL and MPL.
Calculate the maximum production
Q. 1. The demand function is q(p) = (p+1)-2
a. What is the price elasticity of demand?
b. At what price is the price elasticity of demand equal to (-1)?
c. Write an expression for total revenue as a function of the price
Why does the quantity of salt demanded tend to be unresponsive to change in it's price?
Consider the following strategic situation that has been enacted in a recent experiment: Participants are grouped into groups of n participants. Participants sit, each in front of their own computer, in the lab and decide about whether to volunteer or not. Each group was given two minutes to decide, with the experiment ending as soon as someone volunteered. If no one volunteered, each group member received a payment of $1. Anyone who volunteered received $1.75, while the other group members who have not volunteered each received $2.
Translating this situation into a simultaneous move game, write the primitives of the model, the set of players, the set of actions for each player and the preferences of each participant on profiles of actions by all players.
Greenland and Blueland are countries that produce only tools and wine. Assume each country has 10000 labor hours available per month. With the available technologies Greenland can produce each unit of tools in 2.5 hours and 1 liter of wine in 5 hours, while Blueland can produce each unit of tools in 4 hours and 1 liter of wine in 5 hours.
What is the opportunity cost of 1 liter of wine and 1 unit of tools in Greenland and Blueland.
The demand and supply for soft drinks are
given by Q = 10-P and Q = 2+2P, respectively. Suppose now the government imposes a per unit subsidy of $1.5 on the sellers.
a)what is the price received by the sellers after the subsidy has been imposed?
Discuss the quantity theory of money introduced by fisher
