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cme corp. produces rockets which it sells to Wile E. Coyote and others. Suppose that Acme is a monopolist and the inverse demand function for rockets is Q^d=10,000-40Q. Furthermore, suppose that the cost function for Acme can be expressed as C(Q)=120,000+1500Q+15Q^2.
–Calculate the price and quantity the monopolist would sell.
–What is the firm’s profit?
–Calculate the consumer surplus, producer surplus, and any deadweight loss that is the result of monopoly pricing.
During the purchasing decision, evaluation stage, the consumer forms preferences among the brands in the choice set.
Describe perfect competition and long-run equilibrium. Provide detailed descriptions, definitions and concrete examples of your findings.
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Using the classical model of chapter 3, suppose taxes decrease by $100 while government spending is constant. Also, the marginal propensity to consume is 0.90. For a, b, and c below, tell how much each of the following change, if at all, and in which..
Potential buyers within a segment should be:
When networks are important the “best” products usually win. Network goods are usually sold by monopolies or oligopolies. Standard wars are common in establishing network goods.
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A monopolistically competitive firm has the following short-run inverse demand and cost schedules for a particular product: What would happen to the firm’s demand and profit (or loss) as the firm moves toward the long run? Suppose in the long run, th..
If a stock is expected to pay a dividend of $ 25 for the current year, what is the approximate present value of this stock, given at discount rate of 10 % and a dividend growth rate 2 %. If a price of corn is $ 3.00 a bushel, 5000 bushels would be de..
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