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A monopolist faces two distinct markets A and B for her product, and she is able to insure that resale is not possible. The demand curves in these markets are given by P = 20 - (1/4)QA and P = 14-(1/4)QB. The marginal cost is constant: MC = 4. There are no fixed costs.
(a) Calculate the profit maximizing price and quantity in each market.
(b) Compute the total profit made as a result of this discriminatory pricing.
Joseph starts to make quarterly deposits of $1,500 (at the end of a quarter) into an investment account at the age of 45. If he wants to have $250,000 when he retires at the age of 65, what must be the nominal and the effective interest rates per ..
Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing potatoes, she can raise 200..
First bank has total deposits of $2,000,000 legal reserves of $220,000. If the reserve requirement is 10 percent, what is the maximum loan that First bank can make, and what is the maximum increase in the money supply.
At present, the company can earn a maximum annual profit of $25,000 when it sells 10,000 copies within a year's time. The firm incurs a 50-cent expense each time a consumer downloads a copy, but the company must spend $100,000 per year.
The recent average starting salary for new college graduates in Economics is $47500. Assume salaries are normally distributed with a standard deviation of $4,500. a)What is the probabilty of a new graduate receiving a salary between $45,000 and $50..
Compute the expected loss/profit from the line
It is estimated that US tobacco settlement betwwen major tobacco companies and 46 states caused the price of cigs to jump by 45 cents per pack (21 per cent) and overall per capita cig consumption to fall by 8.3 per cent. What is the elasticity of ..
in the spring 2008, Senators John McCain and Hillary Clinton proposed a temporary elimination of the federal gasoline tax, effective only during summer of 2008, in order to help consumers deal with high gasoline price. what does this fact suggest ..
Desperate David devours (consumes) only donuts and dumplings. Every donut costs $1.00 and every dumpling costs $1.50. His monthly budget for these items is $100. His mom makes dumplings at home at gives him 30 dumplings free every month.
In your second part of the essay, assume an economist estimates the present value of benefits (PVB) of the proposed policy to be $ 4.2 billion and the present value of costs (PVC) to be $ 5.6 billion. Is this proposal feasible? Explain briefly.
Given his plot of land, a farmer uses labor (10 workers), capital (5 pieces of equipment), and fertilizer (5 tons) to produce corn. He has figured that each additional worker hired over the course of the growing season adds 5000 bushels to his cro..
Suppose that the country of Bigu has a population of 127 million, of which 83 million are in the working-age population. Of those, 25 million are not in the labor force and 52 million are employed. a Calculate the working-age population as a percen..
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