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Assume the hospital is a monopolist with a demand function given by p = 404−2x, where p is the price of hospital care and x is the quantity of hospital care. Assume that the hospital’s cost function is given by C = 300+4x+8x 2 , where C is total cost.
(a) Compute marginal cost and average cost.
(b) Calculate the hospital’s profit-maximizing quantity, price, revenue, and profit.
q1. suppose the supply of apartments in minneapolis is perfectly elastic. the effect of a 100 per month tax on all
Briefly discuss what measuring inequality involves, and provide two examples for doing so. measuring income inequality means dividing up the population into various groups and then comparing the groups.
John lives for three periods. He is currently considering two alternative education-work options. Alternative 1: he can start working immediately, earning $100,000 in period 1, $110,000 in period 2, and $120,000 in period 3
The dividing line between the 1 percent and the 99 percent is an annual income of ______. (LO11)
The economy has recently turned around, and one of your colleagues suggests that you could hire 25 people for $50,000 per employee to do the sales job as independent agents at a cost of goods sold (COGS) of only 0.5%. What concerns might you have abo..
The Wall Street Journal's experience after it increased its price to 75 cents. Illustrate what implicit assumptions are the publisher and the analyst making about price elasticity.
Calculate the firm's optimal output and profits if prices rise to $65 per unit and also calculate equilibrium output, price and profit levels if the firm is typical in its industry.
Find out the equilibrium price and quantity that will prevail in the market. At a price of $10, would there be a surplus or shortage.
You make an investment of $12,000 in an account with an APR of 6% compounded monthly. (A) What is the balance in this account after 8 years? (B) If, after this initial 8 year period, you wish to make equal withdrawals at the end of each year for 5 ye..
Principle theory of management
When the absolute value of the own price elasticity of demand is zero, demand is:
What is the opportunity cost of Josephine's trip to the wedding
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