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Imagine cell phones are simple and the only thing consumers care about is minutes. Suppose a monopolist wireless company says, "The cell phone and the first 6 minutes are free, and the price of each additional minute is $2." Now suppose your demand for minutes is q(p) = 10 - p
Suppose the firm's marginal cost is $0 and you are the only consumer. What is the sign-up fee, sign-up quantity (i.e. in the above example it was 6 minutes), and price per additional minute that maximizes its profit? Is this perfect price discrimination? Why or why not?
What subsidy is necessary to induce the monopolist to produce the socially optimal level of output?
How was Malthus's view different from Keynes? How was the period during which he was writing affect this comparison? Does his feeling that the landed aristocracy should be promoted also affect this comparison?"
he most recent studies of lifetime medical costs of treating AIDS? a)have shown a significant increase in the estimates due to earlier diagnosis b)have shown a significant increase due to the use of new drugs including protease inhibitors
If the CPI equaled 1.30 in 1990, 1.69 in 2000, and the nominal income of agricultural workers was $35,000 in 2000, what was the average nominal income of agricultural workers in 1990?
Describe why the results of computing cross-price elasticity can be useful in determining product relationships. In your explanation, contrast the different numerical values of cross-price elasticity and what each value indicates.
What factors might these types of stores have in common behind their declines? How would you determine which were important and which were not?
Estimate whether each of the following would cause a shift of the aggregate demand curve, the aggregate supply curve, neither, or both.
Joe enjoys fishing & goes out about 20 times per year. One day, Sara told him that fishing is too expensive of a hobby. She thinks he should stop going because she calculated that it costs about %28.75 for every fish he catches because he usually ..
Research the current demand for a good or service of your choice. Collect information that will affect the demand for the good or service.
Suppose a perfectly competitive firm is producing 300 units of output, P = $10, ATC of 300th unit is $8, marginal cost of 300th unit = $10, and AVC of the 300th unit = $6. Based upon this information, the firm is:
XYZ Corporation faces a horizontal demand curve and the market price is given to be $15. Compute the shutdown price of operations for Corporation XYZ.
Assume a certain firm in a competitive market is producing Q = 1,000 units of output. At Q = 1,000, the firm's marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit.
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