Economics Answers

Using a well-illustrated diagram, show that a monopolist can make losses in the short-run even when MC = MR

You win a free gift in a competition. Is the gift free? Explain

TC=50+10Q+0.04Q^(2 )
MC=10+0.08Q
TR=40+20Q+0.02Q^2
MR=20+0.04Q
Based on the above information
Find the quantity that th firm produces
Find the price at which the firm produces
Find the total cost, total variable cost and total fixed cost
How much does the firm need to earn to avoid from closing its operations

How are each of the below objectives measured?

Objective1: Equitable or Redistribution of Wealth (Income)
Objective 2: Price Stability
Objective 3: External Stability or Balance of Payments

1. You have to determine the optimal number of trucks that the company should buy in order to use them in their projects. Let denote "Y" as the number of trucks. The Marignal Benefit to the company is given by the expression: MB = 80,000 - Y.
The Marginal Cost given by the expression: MC = 10,000 + (1/2,000)Y2

a. Please calculate the optimal amount of trucks that this company should buy and include a diagram.

b. Provide some reasons that might explain the slopes of the marginal benefit and marginal cost curves.

c. Assume that marginal cost is LOWER than marginal benefit, should more trucks be bought? Illustrate.

How to use income and cross price elasticity to develop pricing strategies in relation to consumer income, substitutes and complements?

How can total revenue be improved by understanding how elastic demand is for a good or service?

Explain how firms can develop strategies to access consumer surplus?

A business uses linear depreciation for its machines. The depreciation time is set to five years. The machines were purchased at the entrance to Year 1 for NOK 3.000.000 including VAT ( Norwegian mva). Residual Value at the expiration of the service life was estimated at NOK 400.000 without VAT(Norwegian mva). After four years the machine was sold. The loss of sales was NOK 30.000.
What was the sales total including VAT ( Norwegian mva)?

Explain each of the following statements using
supply-and-demand diagrams.
a. “When a cold snap hits Florida, the price
of orange juice rises in supermarkets throughout
the country.”
b. “When the weather turns warm in New England
every summer, the price of hotel rooms in
Caribbean resorts plummets.”
c. “When a war breaks out in the Middle East, the
price of gasoline rises and the price of a used
Cadillac falls.”

consumption=50+0.6yd
yd=y-TA+TR
TR=100
TA=ty=0.2y
I=50
G=75
NX=100
find AD equation
find consumptio
find aggregate demand
find TA
find slope of AD
draw AD curve by assuming different levels of y

A coffee shop wants to see how their customers feel about the business’ service. To find out, they would most likely use _____.

market segmentation studies
programmatic research
evaluative research
selective research