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*DVDs and TV screens
*DVDs and movie tickets
*TV Screens and movie ticket
Explian the two assiciated concept used to determine the satisfaction or utility of a consumer.
Find the slope of an assumed linear demand curve for theater tickets, when persons purchase 1,000 at $5.00 per ticket and 200 at $15.00 per ticket.
equations:
Qx = 20000 - 10000 Px + 10 I + 1000 Pc
Where Px is the price charged for Raza pastries, I is income per capita and Pc is the price of books from competing publishers. Using this information, the company's managers want to:
(a) Determine what effect a price increase would have on total revenues.
(b) Evaluate how sale of pastries would change during a period of raising income.
(c) Assess the probable impact if competing producers raise their prices. Assume that the initial values of Px = $8, I = $18000 and Pc = S10
Captain America as a captain in the US Army during World War II earned around $4,800 annually in 1944. While in 2021, as he is still a captain of the US Army, he earns $52,596 per year. Suppose the price index was 17.6 in 1944. The price index in 2020 is 1470.7% of that in 1944.
a. What is the price index in 2020?
b. How much does the Captain America's pay in 1944 worth in terms of 2021's price?
Q7) Answer the following questions making the comparisons between the perfectly competitive and monopoly
firms.
a) Differentiate both with respect to market, nature, resource mobility price information and demand curves.
b) Looking at the short run and long run conditions is it possible for a perfectly competitive firm to survive in the
long run with zero profits? Explain your answer with reason (s).
c) Looking at the short run and long run conditions is it possible for a monopoly firm to survive in the short run
with losses? Explain your answer with reason (s).
‘An increase in output would motivate a cost-minimizing firm to employ more of all
variable inputs.’ Comment.
#339914 on Dec 2023