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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?
If a firm's marginal revenue from its 100th unit of output is $50 and the marginal cost from its 100th unit of output is $45, then in the short run this firm should:
How might you construct a measure of the change in the price level. Illustrate what additional information might you need to construct your measure.
No one can predict a natural disaster or world crisis. When a hurricane or flood or a pandemic strikes a country, who is most likely to respond first? Which economic system is the best solution to handling a crisis of epic proportion?
q1. besides elections and campaigns do the major political parties influence public values and ideas? do you think
A fractional reserve bank creates money. Are there any limits to how much it can create? Does a large bank face the same limits as a small bank? What would be the limits for a large bank that was the only bank in the country?
The Stolper-Samuelson theorem states that: A) free international trade increases the real income of the nation's relatively scarce factor and the nation's relatively abundant factor. B) free international trade increases the real income of the nation..
Suppose that this year's money supply is $1/2 trillion, nominal GDP is $15 trillion, and real GDP is $10 trillion. a. What is the price level? b. What is the velocity of money? c. If the velocity of money is constant, but output of goods and services..
An agribusiness firm may undertake three alternatives: The Stinson family owns a farm in Amarillo, Texas. Three alternatives for how to use the farm:
Firm Production, Costs, and Revenue. How do firms use marginal analysis to analyze production? Draw a graph of the different short-run costs faced by a firm.
Assume some pencil workers switch to jobs in the growing computer industry
Discussion topic: You often hear about the trade-off between risk and reward. Is this trade-off part of the decision making under uncertainty when the decision makers use the Expected Monetary Value (EMV) criterion? For example, how does this work in..
Marcella operates a small, but very successful art gallery. All but one of the following can be classified as a variable cost arising from the physical inputs Marcella required to operate her business. Which is it?
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