4620- econ

Subject: Profit Maximization in short run under perfect competition Details: Discuss the profit maximization of a firm in Short Run, under Perfect Competition, with the help of Marginal Revenue and Marginal Cost Approach to examine the following cases: a) When a firm enjoys Super Normal Profit. b) When a firm realizes Normal Profit. c) When a firm faces Losses.

Rule of Maximization

#1 Earlier we noted that the rule for maximization set forth in the text contradicts some well honored traditional principles such as " Never give up", "Anything worth doing is worth doing well," or "Waste not. want not." Explain the contradiction for each of these rules #2 Many candidates for political office, particularly in local elections call for the increased government spending on public education. Ignoring the politics of the issue: A. Is it possible for govt to spend too much on Education? Explain B. How would you advise govt officials to determine how much to spend on education? C. If a city govt has a given budget to spend on education, street repair police, how would yo... click for more

4723-02

Please assist me with the following set of questions. Relevant diagrams are highly recommended. (Some of the questions are adapted from Mankiw 2003.) 1. a. Discuss with the aid of diagrams the short run effect on output, unemployment, general price level and interest rate with an increase in both consumption and investment expenditure (assuming the economy is initially at full employment). (8 ) b. What is the term that we use to describe the adjustment in general price level that is observed in 'part a' if it is continuous. (2 ) c. Discuss with (AD-AS) diagram what kind of fiscal policy can be adopted to restore the economy back to the full employment equilibrium. (7 ) d. Sugge... click for more

4795-econ

I need the following questions answered ? an assessment of whether Odyssey Isle's current pricing strategy is profit-maximizing. ? the revenue and profit implications for the alternative pricing strategies proposed by Bob Radcliffe, James Bender, and Nell Richards. ? how Odyssey Isle's current and proposed pricing strategies affect consumer surplus. ? Recommend an optimal pricing strategy at Odyssey Isle. Your proposal should specify the exact prices that should be charged to visitors and demonstrate that these prices will produce the maximum level of profits for Odyssey Isle. ? JetSetter's current practice of bundling the golf option with the luxury option. Recommend an optimal ... click for more

4946-econ

Subject: Assistance with econ questions Details: Industry structure is often measured by computing the Four-Firm Concentration Ratio. Suppose you have an industry with 20 firms and the CR is 30%. How would you describe this industry? Suppose the demand for the product rises and pushes up the price for the good. What long-run adjustments would you expect following this change in demand? What does your adjustment process imply about the CR for the industry? Now consider that the industry has 20 firms but the CR for the industry is 80% instead of 30%. How would you describe this industry? What are some reasons why this industry has a high CR while the other industry had a low CR? Is it poss... click for more