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A monopolistic firm operates in the U.S. No trade is possible between the NY market and the LA market. The firm has calculated the demand functions for each market as follows:
NY Market p = 150 - Q
LA Market p = 50 - Q
The company estimates its total cost function to be: TC = 40Q.
Calculate the following:
a. quantity, total revenue and profit when the company maximizes its profit and charges the same price in both markets.
b. quantity, total revenue and profit when the company charges different prices in each market and maximizes its total profit.
Illustrate what is happening to the value of the US dollar these days. What causes the value of the US dollar to rise or fall.
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Camera Shop will discontinue its operations next month. Explain will this information alter your pricing decisions today.
Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous. d. Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.
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Illustrate what will be real interest rate that clears goods market at G = 2000 and Y = 10,000. Conclude autonomous investment and marginal propensity to invest.
Explain the statement that "an individual bank has little ability to expand the money supply unless all the other banks expand in step". Does that simply because a conduct of one single bank cannot change the aggregate money supply?
Consider we did technological change in the class where it does contribute to one side of the production use that to understand the problem.
Draw a pair of utility curves, one for X and one for Y, and label the positions immediately after the innovation (before any migration) as x for city X and y for city Y. Use arrows along the curves to indicate that migration that follows.
If a country's currency's external value is tied or pegged to the currency values of the country's leading trading partners, this arrangement
Suppose an individual dairy farmer in Northamptonshire decides that going price for milk is too low. Explain effects of this strategy.
To what extent does educational planning in the policy decision ought to be guided by economic considerations
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