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In class, we study the two-part tariff question with the following system. Consumer 1 has demand function q1 = 50 − p1 and consumer 2 has q2 = 50 − 2p2 The per-unit cost of the production is mc = 10. Our conclusion is that if we have only one two-part tariff scheme (f, p), it is the best for the monopoly to set f = 800 and p = mc = 10. But it means that we have to exclude consumer 2 from the market as the fee is too expensive. Now suppose that monopoly can design two schemes (f1, p1) (f2, p2) (a) Can the following schemes make the monopoly more profitable? (f1, p1) = (800, 10) (f2, p2) = (225, 10) If so, what’s the new profit? If not, why? (b) What’s the necessary conditions that consumer 1 wants to participate given scheme 1? How about the conditions for consumer 2? (The conditions should be some inequalities.) (c) What’s the necessary conditions that consumer 1 will voluntarily choose scheme 1 and consumer 2 will voluntarily choose scheme 2 if both schemes are available to them? (The conditions should be some inequalities.) (d) Compute the profit maximizing schemes for the monopoly.
Nations with corrupt police and court systems typically have lower standard of living as compared to nations with less corruption. Why might that be the case?
Visit the Fed's Summary of Commentary on Current Economic Conditions, also known as the Beige Book. Prepare a proposal recommending monetary policy actions designed to correct problems with spending, employment, and prices. Defend your choices.
Suppose you own a car wash and that its total cost function is C = 20 + 2Q + .3Q^2 where C = total cost in dollars per hour and Q is the number of cars washed per hour. You receive 5 dollars for each car washed. Derive the firm’s short run supply cur..
A cappuccino vending machine is designed to dispense an average of μ oz per cup. If the ounces per fill are normally distributed, with a standard deviation of 0.4 oz, what value should μ be set at so 6 oz cups will overflow only 2% of the time?
Describe how the following statements relate to the AD–AS model:
A loan for $80000.00 is to be paid with 12 equal payments, paid every other month (6 payments a year) ,The first payment being 9 months after barrowing the money. The interest rate is 12% pre year compounded monthly. What is the size of each of the 1..
Explain how does the price elasticity of demand for corn oil influence the quantity-demanded of corn oil and the Total Revenue earned by sellers of corn oil.
Offshoring and offshoring outsourcing
In jury selection, one cannot exclude potential jurors on the basis of race or other discriminatory criteria. One question is if this prohibition against discrimination should extend to potential jurors that have physical or mental disabilities. How ..
q1. give examples of 7 elements of client value systems time cost quality environment impact resaleexchange self
Do a thorough online search for a Journal article that addresses Trends in Corporate Sustainability Reporting. Your paper can focus on a specific country such as the United States, United Kingdom, the European Union, the Developing Countries, Japan, ..
Calculate Pete's marginal and average cost schedules. What are Pete's profit-maximizing output and price? What is Pete's economic profit? Explain your answer.
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