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The total cost of production for your firm is 5000 + 200Q, where Q is your level of output.
(a) For what levels of output does your firm have economies of scale? Is this a case for natural monopoly? Why
(b) Now assume you are a monopolist, and the demand for your product is P=2000-5Q. What price will you charge? How much deadweight loss will your firm created?
(c) Now assume your firm is subject to regulation, where price is set equal to average cost. Now what will your price be? How much deadweight loss will your firm created?
(d) After the election, you decide your firm is not making enough money. So you hire the lobbying firm C&E. C&E are able to convince regulators that you should set your price equal to 110 percent of your (average) costs. Now what is the price and deadweight loss?
Elucidate the interpretation of the coefficient b. Do the demand functions satisfy the relevant homogeneity conditions.
What is demand elasticity in the $35 - $50 price range? Is demand elastic, inelastic, or of unitary elasticity Calculate the value and show all of your work. Be sure to use the midpoint equation to determine elasticity. Assume demand elasticity ..
Determine the economy current stage in the business cycle and support your answer with an article written within the last week from popular press or blog.
Movie tickets prices increased by 5% and resulted in a 8% drop in sales. What is the price elasticity of demand? 2. If ticket prices decreased by 5% instead of raising them, what would the changes in attendance would you expect? 3. If a competing cin..
What is the current minimum wage in the U.S - what is the minimum wage for workers who receive tips and what is the current minimum wage for the state that you live in
Assume that a "leader country" has real GDP per capita of $40,000, whereas a "follower country" has real GDP per capita of $20,000. Next suppose that the growth of real GDP per capita falls to zero percent in the leader country and rises to 2 perc..
Suppose the marginal expense of hiring another worker is $150 and the marginal expense of hiring current workers for an extra hour is $10.
Illustrte what is the put premium on a December 25 PHLX pound contract with an exercise price of $1.81.
Illustrate what environmental factors or trends, (technology, social, political, demographic, global, etc. ) do you believe will have the greatest impact on critical thinking at work or in another area of your life.
Illustrate what would you expect to see happen to the cost of a checking account if banks could not make loans. What would happen to the amount of investment made by businesses.
Calculate the Marginal Propensity to Consume - Furthermore you know that the marginal propensity to save (MPS)equals 0.4
Suppose You are a manager of a small US company that sells nails in a competitive market the nails are a standardized commodity,
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