Managerial Economics (MG608) Assignment #2 Victor Smith Date: 02/10/2003 Textbook Problems
(see Appendix for Graphs)
p77 #2) Solve the following demand equations for TR(max). Provide TR equation with P(max) and Q(max) (max) = max. revenues Demand 1 Demand
Managerial Economics (MG608) Assignment #3 Victor Smith Date: 02/16/2003 Textbook Problems
p142 #1) E p = 0Q / 0P E p = 2 0% / -10% Ep = - 2 p 142 #3) Demand Equation 3a) Interpret equation 3b) price point elasticity Q = 100 - 10P + 0.5Y where P = 7, Y =
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Chapter 6 AND APPENDIcES THE THEORY AND ESTIMATION OF PROD
CHAPTER 8 PRICING AND OUTPUT DECISIONS: PERFECT COMPETITION AND MONOPOLY
QUESTIONS 1. All four of the characteristics listed in Figure 8.1A of Chapter 8 are important to ensuring that buyers and sellers are price takers. Students should recognize that the