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1. The Zinger Company manufactures and sells a line of sewing machines. Demand per period (Q) for a particular model is given by the following relationship:
Q = 400 - .5P
where P is price. Total costs (including a "normal" return to the owners) of producing Q units per period are:
TC = 20,000 + 50Q + 3Q2
a. Express total profits (p) in terms of Q.
b. At what level of output are total profits maximized? What price will be charged? What are total profits at this output level?
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A price discriminating monopolist produces two products that exhibit the following price elasticities of demand and does anybody can have a dominant strategy? Explain.
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In our treatment of the Ricardian model We have focused on the case of trade involving only two nations. Assume that there are many nations capable of producing two goods
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Suppose that national income is initially at its equilibrium level when desired investment falls.we would except fall in national income,but not by as much as the fall in desired investment
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