1. Viking InterWorks is one of many manufacturers that supplies memory products to original equipment manufacturers (OEMs) of desktop systems. The CEO recently read an article in a trade publication that reported the projected demand for desktop systems to be Qddesktop=1,600−2Pdesktop .6MQdesktopd=1,600−2Pdesktop .6M (in millions of units), where Pdesktop is the price of a desktop system and M is consumer income. The same article reported that the incomes of the desktop systems’ primary consumer demographic would increase 4.2 percent this year to $61,300 and that the selling price of a desktop would decrease to $980, both of which the CEO viewed favorably for Viking. In a related article, the CEO read that the upcoming year’s projected demand for 512 MB desktop memory modules is Qdmemory=11,200−100Pmemory−2PdesktopQmemoryd=11,200−100Pmemory−2Pdesktop (in thousands of units), where Pmemory is the market price for a 512 MB memory module and Pdesktop is the selling price of a desktop system. The report also indicated that five new, small start-ups entered the 512 MB memory module market, bringing the total number of competitors to 100 firms. Furthermore, suppose that Viking’s CEO commissioned an industrywide study to examine the industry capacity for 512 MB memory modules. The results indicate that when the industry is operating at maximum efficiency, this competitive industry supplies modules according to the following function: QSmemory=1,000 25Pmemory NQmemoryS=1,000 25Pmemory N (in thousands), where Pmemory is the price of a 512 MB memory module and N is the number of memory module manufacturers in the market. Viking’s CEO provides you, the production manager, with this information and requests a report containing the market price for memory modules and the number of units to manufacture in the upcoming year based on the assumption that all firms producing 512 MB modules supply an equal share to the market. How would your report change if the price of desktops were $1,080? What does this indicate about the relationship between memory modules and desktop systems?
-Can you identify the groups that gained from and supported the trade in opium between the British,the Indians, and
-Can you identify the groups that gained from and supported the trade in opium between the British,the Indians, and the Chinese? -Compare the persistence in the export of Opium to China and the persistence of the export of Opium and its derivative into the USA? -In what way could you say that the methods are the same in China as in the USA today.
In the Dorfman-Steiner model of advertising, what is the profit-maximizing adversing to sales ratio for a firm equal to? Is
In the Dorfman-Steiner model of advertising, what is the profit-maximizing adversing to sales ratio for a firm equal to? Is it higher for oligopolists or monopolists? Now suppose the elasticity of demand for hotels is 1.9 and the advertising-to-sales ratio for Hilton is 0.097. -Following Dorfman and Steiner, if we assume that Hilton is profit-maximizing, what does Hilton’s behavior imply about the value of its advertising elasticity of demand? -Interpret the value of Hilton’s advertising elasticity of demand calculated in part (a)
Suppose a Pharmaceutical Benefits Manager is negotiating with the makers of two nondrowsy allergy drugs, Claritin and Allegra, for inclusion
Suppose a Pharmaceutical Benefits Manager is negotiating with the makers of two nondrowsy allergy drugs, Claritin and Allegra, for inclusion on the formulary. The “value” or “surplus” created by including one nondrowsy allergy drug on the formulary is $228 million, but the value of adding a second drug is only $68 million.
In the linear consumption functioncons = βo β1 inc the estimated marginal propensity to consume (MPC) out of income
Economics Assignment Writing ServiceIn the linear consumption functioncons = βo β1 inc the estimated marginal propensity to consume (MPC) out of income is simply the slope parameter,βˆ1, while the average propensity to consume (APC) is cons /inc =β0/inc β1.Using observations on 100 families on annual income and consumption, which are both measured in dollars,the following equation is obtained via OLS:cons = −162.12 0.841incn = 100, R2 = 0.162(a) Interpret the intercept in this equation, and comment on it sign and magnitude. Is the informationprovided by the intercept useful?(b) What is the predicted consumption when family income is $30,000?
Consider the effect of trade liberalization on agricultural markets. Using your weekly readings and additional research, discuss the challenges experienced
Consider the effect of trade liberalization on agricultural markets. Using your weekly readings and additional research, discuss the challenges experienced by the Saudi Arabian agriculture industry. What financial support does the KSA government provide for its agricultural sectors? How could the KSA improve its agricultural sectors policies? What types of results would you expect for these improvements? Any foreseen consequences? -Embed course material concepts, principles, and theories, which require supporting citations along with at least one scholarly peer reviewed reference in supporting your answer unless the discussion calls for more.
the question is discussion these: Give an example of a market that you think might be a good example for
the question is discussion these: Give an example of a market that you think might be a good example for a perfect competition.What aspects of the market meet the requirements of perfect competition?Are there aspects of the market that don’t quite meet the assumptions of perfect competition?How problematic are these? Is the model still a good model to apply?Is there evidence that the market outcomes predicted by the model around things such as price, profits, firm entry and so on do actually occur in that market?
Suppose that the total cost function for a firm is givenTC (r,w,q) = (0.5r r0.5w0.5 0.5w) q Where
Suppose that the total cost function for a firm is givenTC (r,w,q) = (0.5r r0.5w0.5 0.5w) q Where r and w denote the prices of capital and labor and q denotes the output. Use theShepherd’s Lemma to derive the firm’s conditional demand functions for labor and capital.
Define the terms utility and the principle of diminishing marginal utility as used by economists. Explain how these concepts can
Define the terms utility and the principle of diminishing marginal utility as used by economists. Explain how these concepts can explain why someone would choose a bowl of spinach over a bowl of ice cream.How does a free market help to overcome the barrier of scarcity in a society?Would the demand for A or the demand for E be more affected by an increase in price?From the list of seven factors that influence demand for a product, which do you believe to be the most influential on the purchase of sugar?Would could be a likely factor that causes a shift in demand of sugar?Determine the price elasticity of a milk if the price of milk increases from $4 to $5 per gallon (25% increase), and the quantity demanded declines from 1,000 gallons to 500 gallons (50% decrease), what would be the price elasticity of milk?Using the example above, if the price of chocolate rises from $1.25 to $2.50 (50% increase) and the sale of milk decreases from 1,000 gallons to 800 gallons (20% decrease), what is the cross-price elasticity of chocolate on milk? In this example, is chocolate a compliment or substitute product?If the price of orange juice rises by 25% and the sale of milk increases by 40% what relationship exists between orange juice and milk?
Empire of water, by David Soll 1. According to Soll, what factors led to the establishment of the first public
Empire of water, by David Soll 1. According to Soll, what factors led to the establishment of the first public waterworks system in New York City? Where and when was it founded? 2. According to Soll, how did water consumption change in NYC in the 1980s and 1990s? 3. According to Soll, what is a “soft” path in water management? How is it different from the “hard” path? Picking up by Robin Nagle 4. According to Nagle, why should we care about sanitation workers? Explain three reasons.
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