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A monopolist produces a product which has high investment cost. The marginal cost of the product is very small ( negligible ) . The monopolist has a patent for the product.
a. Show in a chart the price of goods that would arise if the company is unregulated and explain why. What is the effective price for the product? View deadweight loss that arises if you set a monopoly price.
b . View in another chart and explain that the lowest price as the supervisory authority may apply , provided that it would still persuade the company to develop the product. View deadweight loss that arises from this price. How does this work compared to the deadweight loss caused by monopoly price ?
c . Suppose you have accurate information on the company's fixed costs. How can you use price regulation on businesses, coupled with a subsidy to the company , to get an effective amount of the goods provided at the lowest cost to the government?
Suppose there is a policy debate regarding the United States imposing trade restrictions on imported semiconductors: Which of the following justifications is the pundit using to argue for the trade restriction on semiconductors?
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A company owns a 8-year old gear hobber that has a book value of $62,000. The present market value of the hobber is $86,000. A new gear hobber can be purchased for $465,000. Using an outsider’s point of view, what is the net first cost of purchasing ..
Suppose that the firm Traveldrex gets a patent for a new type of travel mug that will never tip over. As a monopolist in the market for this new type of travel mug, Traveldrex faces market demand Q = 120 – 2p, where Q is in thousands of mugs and p is..
A markets demand and supply functions are as follows: QD=90-2P and Qs=2p-10. Determine the equilibrium price and quantity. Assume the government imposes a price restriction which states that the price cannot be less than $30 per unit. Calculate the s..
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Figure 1 is the cost and revenue curves for a perfectly competitive firm.
If the return of two stocks has a correlation of 1, what does this imply about the relative movements in the stock prices?
The total utility for water is higher than the total utility for diamonds. You can explain the diamond-water paradox (that diamonds are expensive but not necessary for survival / not as useful, while water is inexpensive yet necessary for survival / ..
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