Answer:
a)
P 175
Q = 250
Profit6,250
b)
P 325
Q = 875
Profit 153,125
c)
Q = 1200
P = 260
Profit = 287,000
Explanation:
It maximize profit at MR = MC
MR = 200 - 0.2Q
MC = 150
150 = 200-0.2Q
Q = 50/0.2 = Q = 250
Price:
250 = 2000 - 10P
P = 1750/10 = 175
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<u>Profit: revenue - cost</u>
$175 x 250 session - $150 per session = 6,250
<em>At new functions:</em>
150 = 500-0.4Q
Q = 350 / 0.4 = 875
Price:
875 = 2,500 - 5P
P = (2500-875)/5= 325
<u>Profit</u>
(325 - 150) * 875 = 153,125
<u>If cost changes:</u>
cost: 1000 + 20Q
marginal cost: 20
20 = 500 - 0.4Q
Q = 480 / 0.4 = 1,200
Price:
1,200 = 2500 - 5P
P = 1300/5 = 260
<u>Profit</u>
(260 - 20)Q - 1,000 = 287,000
Answer:
The correct answer is d. Trade restrictions often provide benefits to highly visible special interest groups while imposing a less visible cost on the general populace.
Explanation:
A trade restriction is an artificial restriction to the exchange of goods and / or services between two countries. It is the byproduct of protectionism. However, the term is controversial because what a party can see as a trade restriction can be seen as a way to protect consumers from inferior, harmful or dangerous products. For example, Germany demanded that beer production adhere to its purity law. The law, originally implemented in Bavaria in 1516 and eventually converted into a law for the newly unified Germany in 1871, meant that many foreign beers could not be sold in Germany as "beer." This law was annulled in 1987 by the Court of Justice of the European Union, but remains voluntarily followed by many German breweries.
Answer:
The answer is option B) The Delphi technique is a useful way to gather opinions from experts who desire anonymity.
Explanation:
The Delphi method seeks to collate opinions from a diverse set of experts, and it can be done without having to bring everyone together for a physical meeting.
Since the responses of the participants are anonymous, individual panelists don't have to worry about the consequences of their opinions.
Consensus takes time since opinions are carefully analyzed, making the method very effective.
It is an exclusive process used to arrive at a group opinion or decision by surveying a panel of experts.
Experts respond to several rounds of questionnaires, and the responses are aggregated and shared with the group after each round.
The experts can adjust their answer each round, based on how they interpret the group response provided to them to assess.
The ultimate result is meant to be a true consensus of what the group thinks whilst retaining the anonymity of the respondents.
Answer:
C) democratic reforms
Explanation:
One of the things I remember when I was a little kid was watching action movies with my father and many of them had a common hero, an American soldier or spy (and James Bond even though he is British), and a common enemy, the Soviet Union or some other communist country.
That was very in the late 80s and early 90s, and probably much earlier. The world was divided into two sides, the side that favored liberty and freedom (the US) and the communist evil nations.
In economic terms, communism and command economies meant that the government controlled most of a country's resources. This had a negative effect in that only politicians and their allies lived well and were rich, while the rest of the population was poor.
But then president Reagan and premier Gorbachev got together and decided that it was time for all the nonsense to stop, and the Berlin Wall fell, the Soviet Union split up and luckily for all (except James Bond and other heroes), communism ended.
The fall of communist led to democratic and capitalistic reforms.
