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Economics, Microeconomics
Year 4
costs of regulation
Market demand and cost revenue relations:
P=$5000 -$0.25Q
MR=$5000 - $0.5Q^2(squared)
TC=$6,000,000 + $500Q +$0.5Q^2(squared)
MC+$500+$1Q
Marginal cost: $150 per unit, OSHA mandated safety feature
A. Calculate profit-maximizing price/output combination and economic profit level before installation of the OSHA mandated shielding equipmt
B Calculate same after the OSHA guidelines have been met.
who pays the economic burden of meeting OSHA guidelines?(I think elasticity has something to do with this)
By OTA: Jiong Tu, PhD (IP)
OTA Rating: 4.8/5
Your Price: $2.19 (original value ~$7.98)
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a. What is the break-even point in bags?
b. Calculate the profit or loss on 12,000 bags and on 25,000 bags.
c. What is the degree of operating leverage at...
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1. B. B. Lean's deluxe garment bag sales recovered from 4,800 units to 6,000 units following a price reduction from $140 to $130 per unit. Calculate B. B. Lean's arc price elasticity of demand for this product.
2. Calculate point price elasticity of demand for this product.
3. Assumin...
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