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There are 2 fishermen, Zach and Jacob, who fish along a certain coast. Both would benefit if lighthouses were built along the coast where they fish. The marginal cost of building each additional lighthouse is $25. The demand curves for lighthouses are: Zach: P = 10 – .1Q Jacob: P = 20 - .1Q
Find the marginal social benefit of building 20 lighthouses and explain why it’s not the efficient level.
Sketch the results to part c (demand curves, MC curve, efficient level, etc.)
How is elasticity related to revenue. How is diminishing marginal returns related to cost. How are revenues and costs related to profit.
56.a californian college student consumes internet services i and books b. her preferences are represented by a
pricing strategy varies significantly across different market structures. the pricing guidelines in a monopoly market
A state government wants to provide incentives for single parents to enter the labor market and become engaged.
In a recent article, a researcher reported that he had found the demand curve for kerosene to be upward sloping.-as the price of kerosene rose the quantity demanded of kerosene increased. Illustrate what questions might you have for this researche..
Find the values which maximize or minimize for the following function and determine where you have a maximum to minimum. Graph the function and discuss the context of concavity.
We operate 300 days per year and have found that an order must be placed with our supplier 6 working days before we can expect to receive that order.
What is the current macroeconomic situation in the U.S.? What should the Fed do about it? What monetary policy tools should the Fed use to achieve the result(s) you just recommended?
A firm sells its product in a perfectly competitive market where other firms charge a price of $80 per unit. The firm’s total costs are C(Q) = 50 + 12Q + 2Q2. How much output should the firm produce in the short run? What price should the firm charge..
Are monopolies and oligopolies (firms demonstrating power) always bad for society? Be sure to provide real world examples of where this may be the case to strengthen your position. Provide at least one example of a case where having a monopoly or oli..
Compare an owner's personal liability for debts of a business organized as a sole proprietorship, general partnership, limited partnership, LLP, LLC, and S corporation.
Moldovan authorities declared not only once that y want to sign an agreement with IMF that would not envisage Moldovas financing. Can fund accept such a scenario.
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