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A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal cost is given by MC=6000, so TC=50000+6000Q. Give the profit after calculating the profit-maximizing price and quantity.
What is the overall profit?
On Tuesday, price and quantity demanded are $7 and 120 units respectively. Ten days later, price and quantity demanded are $6 and 150 units, respectively. What is the price elasticity of demand between the price of $7 and the price of $6?
Sketch the payoff matrix for this game. Identify any possible Nash equilibria in pure strategies for this game."
What are the positive and negative aspects of budget deficits and surpluses? What policy is best for today’s economy? Explain your answer.
Illustrate what are the concepts gender planning, gender budgeting and gender mainstreaming mean.
Which of the following leads to an under allocation of resources to a specific economic activity?
Political business cycle: Do economic events affect presidential elections? To test this so-called political business cycle theory, Gary Smith20 obtained the fol- lowing regression results based on the U.S. presidential elections for the four yearly ..
Suppose there are two types of workers: high-ability and low-ability. Workers know their own abilities but firms do not. A high school diploma costs a high-ability person $10,000 and costs a low-ability person $15,000. What value of $K guarantees tha..
If offshore assembly provisions were extended to include more goods, what would this do to the actual level of protection provided by a country’s nominal tariff schedule? Explain. If the extension of the provisions is made to final goods but not to i..
q1. the hilton hotel chain serves both business and vacation travelers. d business and mr business represent the demand
Suppose the market price of tuna is $3.50/pound. Explain how many fisherman should the company use if the daily wage rate is $100.
Illustrate what is the fed funds rate in the banking system. Explain how the Fed manipulates this rate in order to achieve macroeconomic objectives.
Toys are produced by a competitive industry. Santa Claus gives away one million free toys each year. It costs Santa nothing to produce these toys. Illustrate Santa’s effect on consumer’s surplus and the producer surplus earned by commercial toy manuf..
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