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A monopolist faces the price equation: P=1,000-0.5Q and total cost: C=50,000 +100Q + .4Q^2. A. Determine the price and output that maximize total revenue, and the level of profit. B. Determine the price and output that maximize profit and the level of profit. C. Compare the goals of revenue-maximization versus profit-maximization, and comment on the appropriate goal of the firm.
Within your supplemental readings for this semester, there are several discussions of the Keynesian multiplier. In the minds of the critics that you read, which is not a deficiency of the multiplier concept
We make choices as consumers every day. Opportunity cost is defined as a person's "next best alternative" or "the cost of what you give up when you make a choice."
Suppose that the economy is initially at equilibrium, in which total planned real expenditures equals real GDP. Which of the following will occur if there is an increase in autonomous investment?
The long-run supply curve for a good is a horizontal line at a price $3 per unit of the good. The demand curve for the good is QD = 50-2P. then what is the equilibrium output of the good.
compare them over a period equal to the life of the shorter-lived alternative D) compare the present worth over one life cycle of each alternative. Explain why. Do not waste time just selecting a,b,c, or d. You will not be rated.
What is the relationship between bowed out shape of production possibilities frontier and increasing opportunity cost of the good as more of it is produced?
Most of us participate in the economy every day. As households, we can provide labor to companies or government in the input market and we are also consumers of goods and services in product market.
Explain how each of the folloowing variables will be affected by proposed steps that you have identified in the first part of the decussion: Money supply, interest rate, inflation rate, aggregated demand and output.
Employ the following equation to demonstrate why the firm producing at the output level where MR=MC will also be able to maximize its total profit
Discuss the characteristics of monopolistic market in detail. Name five different companies that belongs to this market. Compare and contrast monopolistic competitive market with Oligopoly.
Describe (include an explanation of economic profit in your explanation). Will price be higher or lower under such the agreement in long-run equilibrium than would be the case if firms didn't collude? Discuss.
Determine what are the reporting reasons on why gasoline prices have been fluctuating and trending upward for the past twelve months.
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