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The average avoidable cost for a fringe firm is AAC(q) = 20/q + 5q. The marginal cost function for a fringe firm is MC = 10q . There are 10 fringe firms. The marginal cost of the dominant firm is 2 and the demand function is Q = 100 - P. (a) What is the supply function of the fringe? What is P0? (b) What is the residual demand function for the dominant firm? (c) What is the profit-maximizing price of the dominant firm? (d) Compare monopoly profits to the profits of the dominant firm. Which market structure is socially preferable, dominant firm or monopoly? Why?
q1. assume that an investor is risk-neutral i.e. suppose that an investor always chooses the investment with superior
You produce goods in a competitive market. You discover that the marginal cost of the last good you produced is the same as the market price for the good. You should:
What is smallest integer price that would make a firm willing to produce a positive amount. Suppose that Dent Carr's long-run total cost of repairing s cars per week.
Who in the Ethiopian society has the most difficult time dealing with scarcity? How can their society provide for their wants and needs? Why are they so impoverished? What can their governments do to help, or hinder their country's development?
Suppose the Fed conducts an open market purchase by buying $10 million in Treasury bonds from Acme Bank. Sketch out the balance sheet changes that will occur as Acme converts the bond sale proceeds to new loans.
The payoff to a company that enters is its gross profit minus its entry cost, while the payoff to a company that does not enter is 60. Find a symmetric Nash equilibrium in mixed strategies.
Bring an example of production. (Any production in any industry) And clearly state which costs do you think will be fixed costs and which ones will be variable costs? Explain Also explain the explicit and implicit costs of the business? Explain
Can you explain the practice of scalping tickets for major sporting events in terms of market shortages? How else might tickets be distributed? If rent controls are so counterproductive, why do cities impose them? How else might the housing problems ..
Which of the following is a necessary assumption when using an analysis of variance?
What the slope of the budget constraint? Why is it this value? What is the endowment point? Why must changes in the interest rate cause a rotation in the budget constraint about this point?
When economists speak of "marginal," they mean. Managers undertake an investment only if. A manager of a clothing firm is deciding whether to add another factory in addition to one already in production. The manager would compare. If a firm's average..
she a reservation wage of $1,500 so that wage package is W = 1,500 + .2 Q where the CEO sets the incentive at .2 and Q = 200 e. If the CEO increases the incentive from .2 to .25, what happens to the Nelson's effort? Will profits rise or fall?
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