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Suppose a monopolist producing Q units of output faces the demand curve P = 20 - Q. Its total cost when producing Q units of output is TC = F + Q2, where F is a fixed cost. The marginal cost is MC = 2Q.
a) For what values of F can a profit-maximizing firm charging a uniform price earn at least zero economic profit?
b) For what values of F can a profit-maximizing firm engaging in perfect first-degree price discrimination earn at least zero economic profit?
Assuming that poor and rich countries have the same production function, illustrate how the poor country will converge with the rich country. Describe how this mechanism works. 2. In the data, countries with low living standards have capital-to-wo..
Discuss on relationships between production and cost, highlighting the equivalence between diminishing marginal productivity and increasing marginal costs.
The economists also argued that the technical level of potential output had risen. Show their argument using the AS/AD model.
Which of the following products and services are likely to encounter adverse selection problems: golf shirts at traveling pro tournaments, certified gemstones from Tiffany's graduation gift travel packages, or mail-order auto parts
Moral hazard and adverse selection are both examples of a) the principal-agent b)externalities in consumption c)efficiency in markets
The two primary issues in international commerce are dumping and tariffs. Dumping is the international form of predatory pricing, prohibited by the WTO. Tariffs are taxes on imported goods, effectively increasing the price on these goods.
What are "normal" goods? Give an example in our current economy and what are "inferior" goods? Give an example in our current economy.
The City of Rochester is thinking of expanding its airport. The expansion will increase travelers' consumer surplus by $100 and airlines' producer surplus by $200, while costing taxpayers only $50. However, the expanded airport will be much noisier.
Type your question here ON THE BASIS OF TRENDS IN BANK BRANCHES, DOES THE PUBLIC APPEAR TO HAVE MORE OR LESS ACCESS TO BANKING FACILITIES (BRANCHES AND OFFICES) IN THE LAST 20 YEARS?
Using indifference curves and budget constraints, show how a government program that increases education and job training for low-skilled women can increase low-skilled female labor force participation over time. Assume everything else about women..
Calculate the maximum amount of revenue that the government can raise using a per-unit sales tax on consumers?
People expected that a tax cut was temporary, then this fiscal policy's effect on the economy will tend to be and the economy is at equilibrium at Point B. What would expansionary fiscal policy do
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