Pricing and output decisions - Monopoly and Perfect competition

Your consulting firm was just granted an exclusive contract for your state. You now must decide your pricing policy, given the following relationships: P = $1400 - 0.0004Q MR = $1400 - 0.0008Q AVC = $1000 where P is the price, Q the quantity, and AVC the average variable cost. The fir...

Transfer prices, relational contracts, and prediction markets

Discussion 1 • In your workplace or home, are transfer prices, prediction markets, and relational contracts used? If so, explain how. If not, describe how you might implement these tools in your workplace or home. • The family is another sort of internal market. How could transfer prices, rel...

Global Resources: Management and Competition

Provide information regarding the resources, the environment, and consumption. 1. What is the relationship between resources and the economy. 2. If a country has resources, does that automatically mean that the country will be wealthy.

Accounting: What Numbers Mean, 10th edition

5.14 a. Calculate the approximate annual rate of return on investment of the following cash discount terms: 1. 1/ 15, n30. 2. 2/ 10, n60. 3. 1/ 10, n90. b. Which of these terms, if any, is not likely to be a significant incentive to the customer to pay promptly? Explain your answer. 5.16 Notes...

The Current State of the Economy

Provide an argument to describe the current state of the economy in terms of the following: -The economic goals -The definition of the phases of the business cycle -The key economic variables described in the text

Communist Economic Systems

Defenders of Communist economic systems may point out that consumers pay lower prices for certain goods because the government imposes a limit on what producers may charge. Cite at least two other ways that consumers may be "paying" for these goods.

Computation of Nominal and Real GDP

Please explain the answer to the following question. Thanks. Nominal GDP increased from roughly $10 trillion in 2000 to $14 trillion in 2009. In the same period the GDP price index rose from 90 to 110. By how much did real GDP increase?

Opinion Polling Webpage

2. Visit the Opinion Poll webpage ( http://en.wikipedia.org/wiki/Opinion_poll) and examine a variety of polls. 3. In the Forecasting discussion forum, discussion the following: a. What are your views regarding economic forecasting? In particular, share any experiences you may have had with bus...

Debate the handgun laws.

Some states in the United States allow citizens to openly or covertly carry handguns. Citizens can protect themselves in the case of robberies or harm by using these guns. Other states do not allow citizens to carry handguns. Criminals, however, tend to have handguns in all states. Use ECONOMIC ANAL...

Tax cut benefits

Question: How can tax cuts help revive the economy? Explain. Your answers must include fiscal policy, expansionary fiscal policy, tax multiplier, Aggregate Demand, etc. You must use at least one article. Thank You

Economics

Airphone, Inc. manufactures cellular telephones at a processing cost of $47 per unit. The company produces an average of 250 phones per week and has a yield of 87% good-quality phones, resulting in 13% defective phones, all of which can be reworked. The cost of reworking a defective telephone is $16...

Optimal Price for a Car Wash

You are the manager of a gas station and your goal is to maximize profits. Based on your past experience, the elasticity of demand by Texans for a car wash is -4, while the elasticity of demand by non Texas car wash is -6. If you charge Texans $20 for a car wash, how much should you charge a man wit...

Marginal Analysis: explained

Assignment 1 Using the information in the following table: a- Complete the last 2 columns by replacing the * with the correct values. b- Draw the following curves in one chart ? Short-run average product (AP) curve; ? Short-run marginal product (MP) curve. Table showing the Average and...

Gross Dometic Product

If GDP is increasing by 3% per year how long will it take GDP to double? Given the same conditions how long will it take Per Capita GDP to double if the population grows at 2%?

Design of work system

An analyst has timed a metal cutting operation for 50 cycles. The average time per cycle was 10.40 minutes, and the standard deviation was 1.20 minutes for a worker with a performance rating of 125 percent. Assume an allowance of 16 percent of job time. Find the standard time for this operation.

Expected Value, Risk Measurement and Relative Risk

Hello, I am looking to compare the work and formulas for the calculation of Expected Value, Absolute Risk Measurement, and Relative Risk for both projects. I have the answers, however, my textbook is horrible in explaining the work. Project A Probability Cash Flow 0.5 ...

Competitive Firm Incurs Economic Loss

If a perfectly competitive firm incurs an economic loss, it should shut down immediately. try to raise its price. shut down in the long run. shut down if this loss exceeds fixed cost.

Pricing Index

You have a price weighted index made up of two stocks, A and B. The price of A equals $30 and the price of B equals $70. What is the current value of this index? Also, what will be the percentage change in the index resulting from a 10 % increase only in the price of A? A 10% increase only in the pr...

Economic Rent

A major city just doubled the annual fee for hot dog push carts that had exclusive rights to a spot just south of a major museum of art to $288,000...why would anyone pay this much for a push cart license? Who is obtaining the economic rent for the lucrative push cart location? How much economic pro...

Economic Profit Questions - Reviews

HoneyBee Farms, a medium-size producer of honey, operates in a market that fits the competitive market definition relatively well. However, honey farmers are assisted by support prices above the price that would prevail in the absence of controls. The owner of HoneyBee Farms, as well as some other...

ROTH IRA and retirement problem

The Taxpayer Relief Act created Roth IRA which allows you to make after-tax retirement contributions of up to $2000 annually and contributions are not tax-deductible, but no taxes are paid on earnings. In contrast, contributions to IRAs are tax-deductible, but taxes will be paid on all future distr...

Consumer Price Index

I am looking for 3 strengths and 3 weaknesses of the attached mock calculation of the CPI. What identifies these characteristics and if the CPI is imperfect, do we need to use it?

Economic Incentives for North American Expansion

Ecomonic incentives were at the heart of westward expansion across North America in the late 18th centuries, so let's apply some economic ananlysis to the situation. The year is 1804 and you estimate that Merriwether Lewis 'totl cost of trapping beaver in Oregon and taking the pelts to market in St...