quantity‚ P = price‚ and ADV = advertising expenditures‚ what is the price elasticity? Choose one answer. | a. -1.5‚ elastic | | | b. 1.5‚ inelastic | | | c. 12‚ elastic | | | d. 120‚ elastic | | Incorrect Marks for this submission: 0/1. Question 3 Marks: 1 The method of forecasting with leading indicators can be criticized for Choose one answer. | a. frequent revisions of data after original publication. | | | b. occasionally forecasting a recession when none ensues.
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Economics 370 Microeconomic Theory Problem Set 6 Answer Key 1) Describe the effects on output and welfare if the government regulates a monopoly so that it may not charge a price above p‚ which lies between the unregulated monopoly price and the optimally regulate price (determined by the intersection of the firm’s marginal cost and the market demand curve). As usual‚ the monopoly determines its optimal output on the basis of MR = MC. Here‚ however‚ it cannot charge a price in excess of p*. So
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invert the demand function QD= 8‚300 - 2.1P into the price function‚ so that price is on the left hand side on its own. QD= 8‚300 - 2.1P → 1QD/2.1 = 8‚300/2.1 – 2.1P/2.1 0.5QD = 3‚952.4 – P → P = 3‚952.40 – 0.5QD TR = P*Q → TR = (3‚952.40 – 0.5Q) *Q → TR = 3‚952.40Q – 0.5Q^2 MR = 3‚952.40 – Q (B) Profit = TR – TC Profit = 3‚952.40Q – 0.5Q^2 – (2‚200 + 480Q + 20Q^2) Profit = -2‚200 + 3‚472.40Q – 20.5Q^2 Marginal Profit = 3‚472.40 – 41Q → MP = 0 3‚472.40 – 41Q = 0 → 41Q = 3‚472.40 → Optimal
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• Question 1 1 out of 1 points Use the following demand and supply functions to answer the following question: Demand: Qd = 50 - 4P Supply Qs = 20 + 2P Equilibrium price and quantity are Answer Selected Answer: d. None of the above. Correct Answer: d. None of the above. • Question 2 0 out of 1 points Suppose a frost destroys much of the Florida orange corp. At the same time‚ suppose consumer tastes shift toward orange juice. What would we expect to happen
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W. Cris Lewis MANAGERIAL ECONOMICS (Economics 4010) Business 302A T-TH 12:00-1:15 pm (Business 209) clewis@econ.usu.edu (CRN #10732) Office Hours: T-Th 10:00 a.m.–11:30 a.m. and by appointment Spring 2007 Text: H. Craig Petersen and W. Cris Lewis‚ Managerial Economics‚ 4th edition (New York: MacMillan) 1999 (Required) Workbook: H. Craig Petersen and W. Cris Lewis‚ Managerial Economics: Study Guide w/Software (New York: MacMillan) 1999 (Not required but useful and on reserve in the library). Course
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Abstract The paper investigated the effect of investment promotion (IP) on foreign direct investment flow (FDI) into Ghana. Cointegration among the variables was established using auto regressive distributed lag (ARDL) models in the presence of a mix of I (0) and I (1) variables. The control variables‚ inflation and trade openness were statistically significant in the short run. Whilst inflation exerted a negative effect on FDI inflow; trade openness positively induced FDI inflow. GDP per capita and exchange
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Economics questions Top of Form [pic][pic][pic] 1. Scarcity: [pic]A) exists because resources are unlimited while human wants are limited. [pic]B) means we are unable to have as much as we would like to have. [pic]C) will likely be eliminated as technology continues to expand. [pic]D) is not an issue addressed in economics. 2. Which of the following is true of resources? [pic]A) Resources are inputs used to produce goods and services. [pic]B) Labor is the mental and physical capacity
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What’s more‚ prices charged by other competing restaurants during 1998 could not be provided‚ so we have to regard it as parts of error item. In summary‚ we specify a linear functional form for the demand as: Qd=f(P‚A)=α + βP + γA + ε And we will run a regression to estimate the demand with: Qd =f(P‚A)=^α + ^βP + ^γA. b) Using statistical software‚ estimate the parameters of the empirical demand function specified in part a. Write your estimated demand equation for Combination 1 meals. Using
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Centrifugal Concrete Workshop is established on May 1989‚ directly under Power Construction Company No.2 – Vietnam Electricity Coorporation‚ a professional manufacturer on industrial concrete products (major are poles). * Based on Decision no. 265/QĐ (VT5/ĐVT/TCCB) dated on March 15‚ 1997‚ Thuduc Centrifugal Concrete Workshop is changed to Thuduc Centrifugal Concrete Factory. Being a State Business‚ the factory has specific characteristics of a manufacturing factory. Main products are spun poles
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TUTORIAL 2: Topic 1: The Firm and Its Goals 1) a. If a stock is expected to pay an annual dividend of $20 forever‚ what is the approximate present value of the stock‚ given that the discount rate is 5%? b. If a stock is expected to pay an annual dividend of $20 forever‚ what is the approximate present value of the stock‚ given that the discount rate is 8%? c. If a stock is expected to pay an annual dividend of $20 this year‚ what is the approximate present value of the stock
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