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Suppose you have been tasked with regulating a single monopoly firm that sells 50-pound bags of concrete. The firm has fixed costs of $10 million per year and a variable cost of $3 per bag no matter how many bags are produced. Instructions: Enter your answers as whole numbers. In part e, round your answer to 2 decimal places. a. If this firm kept on increasing its output level, would ATC per bag ever increase? . Is this a decreasing-cost industry? . b. If you wished to regulate this monopoly by charging the socially optimal price, what price would you charge? $ per bag. At that price, what would be the size of the firm’s profit or loss? At that price, the firm's equals $ million. Would the firm want to exit the industry? . c. You find out that if you set the price at $4 per bag, consumers will demand 10 million bags. How big will the firm’s profit or loss be at that price? $. d. If consumers instead demanded 20 million bags at a price of $4 per bag, how big would the firm’s profit or loss be? At that price, the firm's equals $ million. e. Suppose that demand is perfectly inelastic at 20 million bags, so that consumers demand 20 million bags no matter what the price is. What price should you charge if you want the firm to earn only a fair rate of return? Assume as always that TC includes a normal profit.$ per bag.
In order to just break even, Elucidate how much will the company have to charge for every set.
Elucidate how did it manifest itself. If the person received counter conditioning to correct the condition, Illustrate what were the results
Illustrate what are the historical trends and current state of the federal budget and deficit spending. Should the federal budget be balanced? Is this really necessary.
Is the natural rate of unemployment fixed? Why or why not? How are full employment and the natural rate of unemployment related?
Specific areas of health care that you think may be worse off than others 2. Special population, communities or geographic areas that may be worse off compared to others. 3. What about the uninsured and the under insured, do you think that they deser..
Why is wage labor completely incompatible with feudalism?Is economic life distinctly separate from social and political life?Describe what Smith meant by the "invisible hand". What is the mechanism by which selfish interests are made compatible with-..
q. step 1 select a foreign currency as described above.step 2 perform your research. the content of your textbook can
What is the role of the financial system? Name and describe two markets that are part of the financial system in the U.S. economy. Name and describe two financial intermediaries.
Suppose an environmental regulation requires all polluters to reduce emissions by 50%, even though the cost of pollution control differs widely from one polluter to another. Why might this be inefficient, using the definition of efficiency developed ..
Explain how you would calculate the price elasticity of demand of gasoline? In general terms, explain how consumer and producer surplus will change as a result of this price increase?
A labor economist wants to know the relationship between education (measured by years of schooling) and annual earnings (measured in $1000). A random sample of 222 workers revealed a correction coefficient of 0.88. Based on the coefficient, Among the..
q.due to the global economic slowdown we were benefiting from relatively low oil prices. but because of the instability
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