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Suppose the demand curve for a monopolist is QD=500-P and the marginal revenue function as MR=500- 2Q The monopolist has a constant marginal and average total cost of $50 per unit
a. find the monopolist's profit-maximizing output and prices.
b) calculate the monopolist's profit
The following table shows the hours per week supplied to a particular market by three individuals at various wage rates. Calculate the total hours Per week (Q T ) supplied to the market.
In the signaling model, assume high school graduates are paid a stream of income whose present value is $200,000. College graduates are paid a stream of income whose present value is X. College education costs higher-productivity wo..
Elucidate why the MP/P relation is deficient as the sole mechanism for determining the optimal level of resource.
A medium sized bakery has just opened in Slovakia. A loaf of bread is currently selling for fourteen koruna over and above the cost of intermediate goods
Suppose the Value of the French Franc in terms of the dollar is 40 on October 12 and 45 on October 17. By how much has the Franc appreciated or depreciated against the dollar?
Arrow now sells 100,000 silk shirts at $100 each. The material per shirt expense $40 and labor costs are $50 a shirt. The company has $1.2m. In fixed costs.
Suppose there are 10 consumers in the industry. Each has the following demand: p = 10 - q-Calculate aggregate demand and aggregate supply in the market.
Assume that government purchases decrease by $10 billion, with other factors held constant, including the price level. Calculate the change in the level of real GDP demanded for each of the following values of the MPC
The consumption taxes the government collects in a given period are not restricted to be levied on consumption from only in that period.
Now assume that an unusual shift of the Gulf Stream leads to an unseasonably cold summer in Europe, destroying much of the grape harvest there.
If the cost function for John's Shoe Repair is C(q) = 100+10q-q^2+(1/3)q^3, what is the firm's marginal cost function? What is its profit maximizing condition if the market price is p? What is its supply curve?
Suppose that a chair manufacturer is producing in the short run (with its existing plant and equipment). The manufacturer has observed the following levels of production corresponding to different numbers of workers:
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