Consumer surplus

Question Answers

Your company is planning to invest in new machinery that has an initial cost of $150K. The annual O & M cost are estimated at $5k over the useful life of 10 years, at which time, the salvage value will be $20K. Periodic overhauls will be required every 3 years, which ae estimated to co...
You work in a local authority business advice centre. One of your clients wishes to start a business in some aspect of catering. Advise your client on the advantages and disadvantages of the various legal forms the proposed enterprise could take.  ...
You work for Prodata, an economic intelligence firm specialising in finding and analysing market data. To seek further clients, you have been asked by your manager to prepare a draft brochure that explains and examines why it is advantageous for a firm to possess some knowledge of the pric...
You will apply economic principles presented in Weeks One through Three in this week's assignment. Your assignment will be reviewed by your peers and by your facilitator in week five and should be revised as necessary based on feedback as the first part of the final assignment in week ...
you have the following demand equation; Q = 200 -.30P with the average quantity of 3 packs and the average price of $3.00 per pack. what is the price elasticity? 1. .30      2. -.30    3. 1.0     4. -1 ...
You have just started work for a small company, FitCo, that develops private fitness clubs in small towns. FitCo buys or leases a local hotel or motel, then renovates to provide a gym, swimming pool, sauna, Jacuzzi, and a small café where patrons can buy juices, smoothies, and...
You have a gross income of $12029 in 2014. You filing status is single. You do not itemize deductions and you are allowed 1 exemptions. What is your federal tax bill, assuming no phaseout of personal exemptions based on income? ...
You decide to investigate the relationship given in the null hypothesis of question 2, part (c). What would constitute the restricted regression? The regressions are carried out on a sample of 96 quarterly observations, and the residual sums of squares for the restricted and unrestricted regressi...
You are the only European firm selling vacation trips to the North Pole. You know only three customers are in the market. You offer two services, round trip airfare and a stay at the Polar Bear Hotel. It costs you 300 euros to host a traveler at the Polar Bear and 300 euros for the airfare...
You are given the following information about the demand functions and expenditure patterns of a consumer who spends all his income on two goods: (1) At current prices, the same amount is spent on both goods; (2) at current prices, the own-price elasticity of demand for good 1 is equal to −3. ...

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