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Assume the market demand curve faced by a monopolist is and its short-run total cost function is
(a) Derive the inverse demand curve for the monopolist.
(b) Using the result obtained in part (a), derive the monopolist's total revenue curve as a function of Q. Compute the corresponding marginal revenue function.
(c) Compute the firm's short run marginal cost curve.
(d) Using the results obtained in part (b) and part (c), derive the monopolist's short-run profit-maximizing level of output.
(e) Determine the price charged by the profit-maximizing monopolist and the amount of profit earned.
The water company is privately owned and is the only water company in town. It is licensed and franchised by city for a 10 - year term, just renewed.
Describe how the market for corn would be influenced if ethanol, a corn derivative was used to fuel cars in US. How would market be influenced if a new technology caused corn farming to be more efficient?
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Industry supply and demand are given by QD = 1000 - 2P and QS = 3P. Determine the equilibrium price and quantity?
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1. Consider two metropolitan areas, one that has many small school districts and one that has only a few large school districts. In a paragraph, what are the efficiency and equity effects of introducing a voucher system likely to differ across these ..
John Maynard Keynes believed that wages may be inflexible in the downward direction. Consequently, an economyA) could get stuck in long-run equilibrium. B) could get stuck in a recessionary gap. C) could get stuck in an inflationary gap. D) would alw..
An average worker in Brazil can produce an ounce of soybeans in 20 minutes and an ounce of coffee in 60 minutes, while an average worker in Peru can produce an ounce of soybeans in 50 minutes and a ounce of coffee in 75 minutes. Who has the absolu..
explain the concept of deadweight loss. as well as answer the questions why does taxing a product lead to deadweight
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