The market demand equation for a pair of Wrangler Jeans is Q 840 0 50P, where Q quantity demanded per period of time and P price of Jeans in dollars If the price of Wranglers were lowered from $40 to $38, would you expect consumer expenditures to rise, fall, or remain unchanged If Wranglers lowered its price from $40 to $38, what predictions, if any, can you make about the effect the price reduction would have upon the firms profits Toys R Us of Arlington sells sports cars for little kids during 2014 it sold a monthly average of 23,000 units for $13 per car In early January 2015, Toys R Us major competitor, Walmart cut the price of its sport car toys from $15 to $12 The orders Toys R Us received for its own sports cars dropped sharply, from 23,000 per month to 13,000 per month for February and March 2015 Calculate the cross elasticity of demand between Toys R Us sports cars and Walmarts sports cars during February and March Are the two companies sports cars strong or poor substitutes Why Explain When Walmart dropped the price from $15 to $12, it realized that their sales of these cars Production managers for the Georgia Pacific Paper Corporation of Green Bay, Wisconsin estimate that their production process is currently characterized by the following short run production function Q 72X 15X 2 X 3 , where Determine the equations for MP and AP What is the value of MP when 7 units of variable input are employed By how much does output rise when the usage of variable input is increased from 7 to 8 units per production period At what rate of the usage of the variable input is the point of diminishing marginal returns noticed Why Graphically illustrate this production function and the corresponding MP and AP functions Indicate on your graph the output ranges of the stages of production

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The market demand equation for a pair of Wrangler Jeans is Q = 840 - 0.50P, where Q = quantity demanded per period of time

The market demand equation for a pair of Wrangler Jeans is Q = 840 - 0.50P, where Q = quantity demanded per period of time and P = price of Jeans in dollars.
- If the price of Wranglers were lowered from $40 to $38, would you expect consumer expenditures to rise, fall, or remain unchanged?
- If Wranglers lowered its price from $40 to $38, what predictions, if any, can you make about the effect the price reduction would have upon the firms profits?
Toys R Us of Arlington sells sports cars for little kids; during 2014 it sold a monthly average of 23,000 units for $13 per car. In early January 2015, Toys R Us major competitor, Walmart cut the price of its sport car toys from $15 to $12. The orders Toys R Us received for its own sports cars dropped sharply, from 23,000 per month to 13,000 per month for February and March 2015.
Calculate the cross elasticity of demand between Toys R Us sports cars and Walmarts sports cars during February and March. Are the two companies sports cars strong or poor substitutes? Why? Explain.
When Walmart dropped the price from $15 to $12, it realized that their sales of these cars
Production managers for the Georgia Pacific Paper Corporation of Green Bay, Wisconsin estimate that their production process is currently characterized by the following short-run production function: Q = 72X + 15X² X³, where:
- Determine the equations for MP and AP_.
- What is the value of MP when 7 units of variable input are employed?
- By how much does output rise when the usage of variable input is increased from 7 to 8 units per production period?
- At what rate of the usage of the variable input is the point of diminishing marginal returns noticed? Why?
- Graphically illustrate this production function and the corresponding MP and APfunctions. Indicate on your graph the output ranges of the stages of production.