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Demand formula is given as P=150-3Q, and we only have 40 tickets to sell and that the MC=0 and we suppose to figured out how many tickets to sell to maximize total welfare.
Business Economics, Economics
You sell bicycle theft insurance. If bicycle owners do not know whether they are high- or low-risk consumers, is there an adverse selection problem?
A firm is considering a project that has the following estimated cashflows: Increased sales to business of $100,000 for the next six years (starting in one year's time) Increased costs of $30,000 for the next six years ( ...
If the cost of vacation is $9,384.44, What would be the annual compound interest rate that would let their saving account accumulate to meet their vacation costs?
Consider a market in which the government imposes a price ceiling. Assume that neither supply nor demand is perfectly elastic nor perfectly inelastic. Which of the following groups will always gain from a price ceiling? ...
QXd = 14 - (1/2) P X and QXS = (1/4)P X - 1 a. Determine the equilibrium price and quantity. Show the equilibrium graphically. b. Suppose a $12 excise tax is imposed on the good. Determine the new equilibrium price and ...
You are the sales manager supervising a sales force of three in a kitchen appliance department. You are considering changing the compensation and would like to know if there is a significant difference in sales among the ...
How does a histogram help us know the probability of getting a certain value for a variable? In other words how does the histogram relate to probability?
Why does some workers earn higher wages than others, some landowners higher rental income than others, and some capital owners greater profit than others? (Example)Why, in particular, do computer programmers earn more th ...
Can you someone help me highlight the mistakes and/or half-truths in each of the following statements. a. If one looks at the budget incidence the poor in South Africa benefit most from the budget of government. b. Expen ...
Naomi always eats bagels with 1 ounce of cream cheese. Each bagel eaten in this way provide 15 units of utility. Excess cream cheese or excess bagels do not add to Naomi's utility. Explain the nature of Naomi's utility f ...
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