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Assume that a profit maximizing monopolist faces an inverse demand function give by p(.), where p'(y),0, and a total cost function given by c(y), where c'(y)>0. Suppose the government wishes to combat the undesirable allocational effects of a monopoly through the use of a subsidy.
a)Set up the monopolists profit maximization problem and derive the FONC in the presence of the per unit subsidy on output.
b)Show the competitive output inducing subsidy can be written as s=p(y_c)-MR(y_c)... (note** y_c is the same as saying the output of a competitive industry).
1) What is flex time and what advantages/disadvantages does it give companies and workers2) Why does statistical estimation need caution especially regarding the long run 3) Why are economic profits such fleeting things for a perfectly competitive f..
1. if the economy is to have significant built-in stability then when real gdp increases the tax revenues shoulda. fall
Now suppose that x 2 is also free to vary. Derive the demands for the inputs and the long-run cost function of the firm - Draw the two cost functions on the graph. Do they cross? Which one lies higher?
Besides addressing the issue of externalities, what other important and beneficial roles does the government play in a market economy?
1 examine the history of immigration to the united states from the cape verde islands. how did the immigration to the
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Choose a United States multinational firm. In terms of currency denomination, discuss how the company values its revenues and costs.
when a variable grows at constant rate then the graph of the ln of the variable is a linear function of time
suppose a firm has two factories with marginal costs given byfactory 1 mc1 20qfactory 2 mc2 40qthe firm faces a
At a management luncheon, two managers were overeat arguing about the following statement "A manager must never hire another worker if new person diminishing returns". Is this statement correct? If so, why? If not, discuss why not?
The Aggregate Demand for goods and services in an economy must at every moment equal the value of Real Gross Domestic Product because both are defined to be the sum of (C+I+G+X-IM).
Use the model of supply and demand to explain how a fall in the price of frozen yogurt would affect the price of ice cream and the quantity of ice cream sold. In your explanation, identify the exogenous and endogenous variable.
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