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A monopolist sells in two geographically divided markets, the East and the West. Marginal cost is constant at $50 in both markets (marginal cost is also equal to average total cost). The inverse demand curve in each market is as follows: Pe=450-.5Qe Pw=700-Qw a) Find the profit-maximizing quantity, price, and profit in each market. b) In which market is demand more elastic? c) Show what will happen to the monopolist’s profit if it is to charge the same price in both markets (that is, profit if the monopolist treats the markets as if they are the same).
Suppose that the production of $1 million worth of steel in Mexico requires $100,000 worth of taconite. Mexico's nominal tariff rates for importing these goods are 20 percent for steel and 10 percent for taconite. Given this information, calculate th..
A machine has a current salvage value of $10,000, which will drop by $2,000 per year. The maintenance costs will be $1,250 per year. What is the marginal cost to extend the service for 1 year, at 8%?
Suppose that the forces of good have an army of 1 million and the forces of evil have an army of 500,000.Using the rule of 70, in approximately how many years will the forces of evil catch-up with the forces of good.
Why are firms are attracted to foreign markets, for example, to increase profits and revenues and to gain access to cheaper manufacturing. How may this affect the domestic country of the firm?
q1. what action can firms to take to ensure that they realize whatever economies of scale are created by their volume
In The Symposium, Diotima says that women may be pregnant in body, while men may be pregnant in both body and mind. What does she mean by this? What is the difference between being pregnant in mind and in body? What are some examples of each type of ..
q1. alpha airlines the only carrier currently offering flights to and from town a heard that beta airlines was thinking
Will this cost increase make the tobacco companies better or worse off, and will it lead to higher or lower prices for cigarettes?
St. Joseph's school has 1,200 students, each of whom currently pays $8,000 per year to attend. In addition to revenues from tuition, the school receives an appropriation from the church to sustain its activities. She suggests that another solution mi..
1. The table below gives Bob's income and the price index for the last 4 years. Respond to parts a.
Suppose that nominal GDP equals $15 trillion, the current budget deficit is $600 billion, and the net public debt/GDP ratio is 80 percent. Given that the government wishes to maintain the net public debt/GDP ratio at 80 percent, explain whether the g..
Given the following total profit function: 1. Determine the level of output of each commodity at which the firm maximizes its total profit 2. Determine the value of total profit at the maximum output level
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