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A Monopolist's Demand and Total Cost functions are:
P= 1624 -4Q
TC= 22,000 + 24Q -4Q(squared) + 1/3Q (to the third power)
Where Q is output produced and sold
a. At what level of output and sales (Q) and price (P) will Total Profits be maximized?
b. At What level of output and sales (Q) and price (P) will Total Revenue be maximized?
c. At what price (P) should the monopolist shut down?
When the average total cost curve is rising, then the marginal cost curve will be?:
Firms can shift their marginal cost curves to the right, resulting in higher outputs at the same or lower maximum-profit prices - acquisition of production input factors to product service and maintenance.
use the accompanying table to answer the following questions.quantityprivate socialcost cost benefit1 2 4 122 6 10
Could you identify and describe the concepts of scarcity and opportunity costs. Also, explain the laws of supply and demand and how they are related to the concepts of scarcity and opportunity costs in decision-making.
given the following information answer the following questions tr 3q tc 1500 2q a. what is the break-even level of
Using a supply and demand diagram, demonstrate how a positive externality leads to market inefficiency. how might the government help to eliminate this inefficiency.
What is the negative consumption externality described in this quote? Show this externality on a correctly labelled demand and supply diagram for the petrol market.
This table summarizes the results from an experiment like yours. Compare the outcome under free access with the three outcomes in which the government uses licenses to limit the catch. Roughly how much additional protein is there for the econo..
What would total wages paid and business incomes be in each country given employment conditions in (a)? If 20 workers migrate from country Y to country X, what will happen to wage rates, output, business incomes, and total wages?
Find a news article that is about a microeconomic topic that we have covered during this class. The article can be from the internet, newspaper, or a magazine.
Private: - Private means to keep something a secret from the general public. Thus, under private network no third party interrupts this communication or receives any data that is exchanged between them.
Consider the Russian ruble. In recent months, the value of the ruble has fallen considerably. The typical explanation for this is that political events, in the Ukraine, in particular, have made the future value of the currency difficult to predict. S..
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