Ecomomice and management

1. Discuss whether demand, equilibrium price, and quantity increases or decreases for gas and red meat, respectively, in the following two scenarios. (1) Consumers expect the price of the gas to be higher in the future (2) A medical report is published showing that red meat is hazardous to your health

Economics and management

Industry supply and demand are given by: Qd = 1000 - 2P; Qs = 3P What is the equilibrium price and quantity? At a price of $100, will there be a shortage or a surplus and how large will it be? At a price of $300, will there be a shortage or a surplus, and how large will it be?

How is R-squared calculated?

How is R-squared calculated, and what information does this give you?

Economics and management

The demand equation for the Widget Company has been estimated to be: Qd = 30,100 +10I -50P +20Pc, where Q = monthly number of widgets sold, I = average monthly inocme, P = price of widgets, and Pc = average price of competing products. (1) If next month's income is forecast to be 2,000, the price of competing products is fo ...continues

Economics/ management

1. The demand for salt is relatively price inelastic, while the demand for pretzels is relatively price elastic. How can you best explain why? 2. If a stock is expected to pay an annual dividend of $20 forever, what is the approximate present value of the stock, given that the discount rate is 8%? (SHOW YOUR WORK!) - (H ...continues

Economics: Supply and Demand curves

For each of the following sets of supply and demand curves, calculate the equilibrium price and quantity. (1) Qd = 1000 - P; Qs = P (2) Qd = 1500 - 2P; Qs = 100+2P

Economics and management

8. Opportunity cost is best defined as A. the amount given up when choosing one activity over all other alternatives B. the amount given up when choosing one activity over the next best alternative C. the opportunity to earn a profit that is greater than the one currently being made D. the amount that is given up when ...continues

I need some help finding info about LG company globalization

Discuss the firm's activities outside the U.S. Identify which economic concepts, such as comparative advantage, apply to your firm. Explain how these economic concepts can be used to address the firm's problems and opportunities? Identify which economic and political policies affect your firm and explain how they impac ...continues

Managerial economics

Please answer the questions below and give full explanations so I can follow and learn how to apply myelf. 1. You are the manager of a firm that sells its product in a competitive market at a price of $60. Your firm's cost function is C(Q) = 30 + 3Q2. a. What is the profit-maximizing output for your firm? b. W ...continues

Economics and Management

"Because of economics of scale, it is sometimes more cost effective for a firm to operate a large plant at less than maximum efficiency than a small plant at maximum efficiency." Do you agree or disagree and why? Adding personal experience/knowledge is always appreciated!