PART TWO
Supply Demand
Analysis
Chapter 3: Demand,
Supply, and Market
Equilibrium
Copyright 2012 by Dr Shereef Ellaboudy, Inc. All rights reserved.
Markets
Markets bring together buyers
(demanders) and sellers (suppliers).
l Some markets are local while o
Chapter 8: Answers to Questions and Problems
1. a. b. c. d. e. f. g. h. 2. a. Set P = MC to get $80 = 8 + 4Q. Solve for Q to get Q = 18 units. b. $80. c. Revenues are R = ($80)(18) = $1440, costs are C = 40 + 8(18) + 2(18)2 = $832, so profits are $608. d.
Exam 1 Questions Managerial Economics BA 445
BA 445
Dr. Jon Burke
Exam 1 Version A
This is your Exam 1. Exam 1 is a 100-minute exam (1hr. 40 min.). There
are 6 questions (about 16 minutes per question). The exam begins exactly
at the normal time that clas
Final
Exam
Sample
Managerial
Economics
Dr.
Shereef
Ellaboudy
1.
You
are
an
efficiency
expert
hired
by
a
manufacturing
firm
that
uses
K
and
L
as
inputs.
The
firm
produces
and
sells
a
Short Questions and Answers from Lesson I-10: Monopoly Pricing
Short Questions and Answers from Lesson I-10: Monopoly Pricing
1. A local dentist read an article published by the American Dental Association estimating that the elasticity of demand for the
Chapter 01 - The Fundamentals of Managerial Economics
Chapter 01
The Fundamentals of Managerial Economics
Multiple Choice Questions
1. The higher the interest rate:
A. the greater the present value of a future amount.
B. the smaller the present value of a
Chapter 14 - A Manager's Guide to Government in the Marketplace
Multiple Choice Questions
1. Which of the following is not a valuable role of government in a free market society?
A. To reduce negative externalities.
B. To enhance rent - seeking activities
Let G be the smaller number between
(40+(achieved points)/15 and 6.
Round G exactly to a quarter of a
grade to get your grade.
Solution to Homework Set 8
Managerial Economics Fall 2011
1. (11 points) A rm sells its product in a perfectly competitive marke
Short Questions from Lesson I-7: Minimizing Cost, Lesson I-8: Competitive Markets, and Lesson I-9: Monopolistic Markets
Short Questions and Answers from Lesson I-7: Minimizing Cost, Lesson I-8: Competitive Markets, and Lesson I-9: Monopolistic Markets
1.
Econ 600: Problem Set 1.1
Week of August 22nd, 2011
1. Baye, Chapter 1, Problem 3: Suppose that the total benefit and total cost from an activity are,
respectively, given by the following equations: B(Q)=150+28Q-5Q2 and C(Q)=100+8Q. (Note:
MB(Q)=28-10Q an
Chapter 8: Answers to Questions and Problems
1.
a.
b.
c.
d.
e.
f.
g.
h.
7 units.
$28.
$224, since $32 x 7 = $224.
$98, since $14 x 7 = $98.
$126 (the difference between total cost and variable cost).
It is earning a loss of $28, since ($28 -$32) x 7 = - $
Problem Set 9
Intermediate Business Microeconomics
Sherif Khalifa, Ph.D.
October 30, 2007
Question 1
The inverse market demand in a homogeneous product Cournot duopoly is given by
P = 200 2 (Q1 + Q2 )
and costs are given by C1 (Q1 ) = 40Q1 , C2 (Q2 ) = 12
Let G be the smaller number between
2+0.1*(achieved points) and 6.
Round G exactly to a quarter of a
grade to get your grade.
Solution to Homework Set 9
Managerial Economics Fall 2011
Chapter 9
1. (10 points) The inverse market demand in a homogeneous pro
Econ 201-I: Hakan TASCI
Name:
Section:
Quiz
Each question has only one right answer. Read questions carefully and please circle only one choice.
You have 10 minutes. Honor code is in effect. Sign the honor code pledge at the bottom of this answer
sheet.
1
Chapter 4: Elasticity of
Demand and Supply
Copyright 2012 by Dr Shereef Ellaboudy, Inc. All rights reserved.
Price Elasticity of Demand
According to the law of demand, when price
goes up, consumers demand fewer quantities
of a product. If the price of a p
Chapter 05 - Production And Cost
CHAPTER 5
PRODUCTION AND COST
CHAPTER SUMMARY
This chapter presents a basic economic analysis of production and cost. Primary topics
include production functions, optimal input choice, cost, and profit maximization. The
ch
Chapter 9: Answers to Questions and Problems
1.
a. D2.
b. D1.
c.
i. $20.
ii. 0 units.
iii. $20 to $50.
2.
a. Q1 =
a c1 1
100 12 1
Q2 =
Q2 = 22 0.5Q2 and
2b
2
2 ( 2)
2
a c2 1
100 20 1
Q1 =
Q1 = 20 0.5Q1 .
2b
2
2( 2 )
2
b. Q1 = 16; Q2 = 12.
c. P = 100 2
Exam 1 Questions Managerial Economics BA 445
BA 445
Dr. Jon Burke
Exam 1 Version B
This is your Exam 1. Exam 1 is a 100-minute exam (1hr. 40 min.). There
are 6 questions (about 16 minutes per question). The exam begins exactly
at the normal time that clas
Chapter 5: Production
Managerial Economics
Lecture Notes
Friday, October 21, 2011
Overview
I. Production Analysis
Total Product, Marginal Product, Average Product.
Isoquants.
Isocosts.
Cost Minimization
II. Cost Analysis
Total Cost, Variable Cost, Fixed
Competitive, Monopolistic, and
Monopolistically Competitive Markets
Managerial Economics Lecture
November 11, 2011
Thomas F. Rutherford
Overview
I. Perfect Competition
Characteristics and profit outlook.
Effect of new entrants.
II. Monopolies
Sources o
Additional Oligopoly Models
Managerial Economics Lecture
December 2, 2011
Thomas F. Rutherford
Overview
I. Conditions for Oligopoly?
II. Role of Strategic Interdependence
III. Profit Maximization in Four Oligopoly
Settings
Sweezy (Kinked-Demand) Model
Cou
Chapter 9
Superio
r
Cheese
Monopolistic
Competition
and Oligopoly
Chapter 9: Monopolistic
Competition and Oligopoly
Copyright 2007 by the Shereef Ellaboudy, Inc. All rights reserved.
Monopolistic Competition
Monopolistic competition is a market
structure
Technical Questions and Problems
1. In Gelate, Pennsylvania, the market for compact discs has evolved as follows. There are two firms that each use a marquee to post the price they charge for compact discs. Each firm buys CDs from the same supplier at a c
CHAPTER 4
LONG-TERM FINANCIAL PLANNING
AND GROWTH
Learning Objectives
LO1
LO2
LO3
LO4
LO5
LO6
The objectives and goals of financial planning.
How to compute the external financing needed to fund a firms growth.
How to apply the percentage sales method.
Th