Economics Answers

The demand and cost function for a company is estimated to be as follows: 

P = 100-8Q; TC = 50+80Q-10Q 2 + 0.6Q 3.

A.   What Price should it charge if it wants to maximize its profit in the short run?

B.    What price should it charge if it wants to maximize its revenue in the short run?

The demand and cost function for a company is estimated to be as follows: P = 100-8Q; TC = 50+80Q-10Q 2 + 0.6Q 3. Suppose the company lacks confidence in the accuracy of cost estimates expressed in a cubic equation and simply wants to use a linear approximation. Suggest a linear representation of this cubic equation.

a.      Using the original values, where K = 100 and L= 25, compute the marginal product of labor at L=25 by calculating how much output would rise if an additional worker were employed.

How is Ghana positioned to increase the value of the cedis?

Design a model of leather shoes the variables of your choice on look in exogenous and endogenous variables in short run and long run

Ruma is a final year hotel management student, who is very much interested in starting her own business of bakery. Home baking is the trend now so she wants to start from a small business and then in future expand it. She is thinking of taking bank loan and has approached you for advice. What would you advise her? 

Assume the market of an IPhone 12 Pro is in the equilibrium draw a correctly labeled graph of the market for IPhone 12 Pro labeling price and PE and QE at the equilibrium

Consider two Linear Demand Curve with the same price intersect which among the two demand curves is more elastic at the given price at the given quantity?