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My professor requests the following: "When answering the questions, you must emphasize the line of reasoning that generated your results. It is not enough to list the results of your analysis, include correctly labeled diagrams while explaining your answers. It must have all axes and curves clearly labeled and must show directional change/shifts. 1)Due to a new technology, Bana computers enjoys monopoly power. It doesn't engage in price discrimination. A) Explain why the demand curve lies above the marginal revenue curve for Bana computers. Note type of elasticity. B) Assume Bana is earning a short-run economic profit using a correctly labeled graph, show the following I) Profit-maximizing level of output, label as Q* II) Profit-maximizing price, labeled as P* III) Economic profits, as a shaded area C) If Bana wants to maximize its total revenues instead of profits, using your graph from part B and show the following: i) Revenue-maximizing level of output, label as Q^R ii) Revenue maximizing price, labeled as P^R D) Given your answer (B), indicate whether Bana is,producing the allocatively efficient level of output. Explain. E) Explain what will happen to Bana's demand curve as other firms adopt the same technology. What will happen to the market demand curve? 2- Assume that a profit maximizing firm is in a monopolistically competitive industry, within a long run equilibrium. A) Draw a correctly labeled graph that shows the profit maximizing firm's Price and Output.
How does knowledge of value elasticity between different groups of consumers or for several products enable managers to price discriminate, change different prices for these groups?
Compute the average product of grain when each amount is used. Determine the marginal product of grain when between 1,200 and 1,800 pounds are fed, when between 1,800 and 2,400 pounds are fed, and when between 2,400 and 3,000 pounds are fed.
1. Why do you suppose that firms in Artic nations are already developing specialized tanker ships and platforms for use in privately accessible Artic areas 2. What are possible opportunity cost of opening Artic lands to private extracti..
Assuming that the merger faces some threats and that the steel industry decides on self-expansion as an alternative strategy, describe the additional complexities that would arise under this new scenario of expansion via capital projects.
Suppose you own an insurance company. Further suppose that this market is composed of only 3 people. Further still, supposed that this insurance is full coverage and medical expenses are always $1000. It would be logical to also assume conditions ..
Two firms dominate the market for surgical sutures and compete aggressively with respect to research and development. The following payoff table depicts the profit implications of their different R&D Strategies.
you must identify a franchise that is relatively new (less than 10 years old and fewer than 25 locations in Canada). You must then evaluate the attractiveness of the franchise for an identified location. The evaluation should include: Presentation ..
This assignment focuses on the comparison of perfect competition and monopoly in terms of efficiency and fairness. To complete this assignment you must complete all of the following questions. Microeconomic Problem
What is the cost of using this machinery for one year? How would your answer be different if the machinery had not yet been purchased?
Determine the maximum number of lbs. of butter the economy can produce and
Evaluate the financial performance of the company using the information provided in the scenario. Consider all the key drivers of performance, such as company profit or loss for both the short term and long term and how each factor influences mana..
Determine your optimal pricing strategy if you and your rival believe that the new Jeep is a "special edition" that will be sold only for one year. Would your answer differ if you and your rival were required to resubmit price quotes year after ye..
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