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5. A monopolist has a constant marginal and average cost of $10 and faces a demand curve of QD = 1000 - 10P. Marginal revenue is given by MR = 100 - 1/5Q. a. Calculate the monopolist's profit-maximizing quantity, price, and profit. b. Now suppose that the monopolist fears entry, but thinks that other firms could produce the product at a cost of $15 per unit (constant marginal and average cost) and that many firms could potentially enter. How could the monopolist attempt to deter entry, and what would the monopolist's quantity and profit be now? c. Should the monopolist try to deter entry by settinga limit price?
3. Suppose a firm has a constant marginal cost of $10. The current price of the product is $25, and at that price, it is estimated that the price elasticity of demand is -3.0. a. Is the firm charging the optimal price for the product? Demonstrate how you know.b. Should the price be changed? If so, how?
7. A monopolist sells in two geographically divided markets, the East and the West. Marginal cost is constant at $50 in both markets. Demand and marginal revenue in each market are as follows: QE = 900 - 2PE MRE = 450 - QE QW = 700 - PW MRW = 700 - 2QW a. Find the profit-maximizing price and quantity in each market.b. In which market is demand more elastic?
given the following information for november 2010 calculate the amounts of m1 and m2 in november 2010. the amounts are
The issue needs to be discussed, thought through, and resolved. That is why we study cases like this, so we can think these things through and try to respect the family, the deceased, and the needs of society - Should Justin Ellsworth's parents hav..
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Normal 0 false false false EN-US X-NONE X-NONE Choose the correct price-el..
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Describe how the price system answers the five fundamental questions of economics, and discuss at least two of the short-comings of the capitalist price and market system.
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If an increase in the interest rate lowers savings, then
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Why might Mattel set a much lower contribution margin on its Barbie dolls than on the accessories for the dolls - the market for woment and the market for men are not separated. You cannot charge for men and woment differently.
discuss the ethics of using unconscious nudges to alter peoples behavior. within your answer consider the argument made
analyze the process of forecasting foreign-exchange rates and create a short list of best practices. explain your
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