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Consider A monopolist that faces the constant elasticity demand curve y(p) = p^a where a < 0, and the total cost function c() given by c(y) = ky, where k > 0.Also assume that the monopolist pays a quantity tax of t > 0. set up the monopolists profit maximization problem with price as the decision variable and find the profit maximizing price, say p(t)>0. Show that a<-1 must hold for the profit maximizing price to be positive. What is the economic interpretation of this condition?
What is the principal-agent problem? When will the principal-agent problem be most severe? Why might there be a principal-agent problem between the stockholder-owners and the managers of a large corporation?
If you receive a free ticket to a concert, what, if anything, is youropportunity cost of attending the concert How does youropportunity cost change if miserable weather on the night of theconcert requires you to leave much earlier for the concert ..
A monopolist faces the price equation: P=1,000-0.5Q and total cost: C=50,000 +100Q + .4Q^2. A. Determine the price and output that maximize total revenue, and the level of profit. B. Determine the price and output that maximize profit and the leve..
Create and explain a production possibilities frontier for an economy that produces milk and cookies. Determine what happens to this frontier if disease kills half of the economy's cow population?
Think the single-index model. The alpha of a stock is 0 percent. The expected return on the market is 12 percent. The risk-free rate of return is 6 percent.
Compute the best response function of each firm in terms of prices. Compute the resulting equilibrium price quantity combination for each firm. Describe your answer with a suitable graph. Also calculate optimal profits of each firm.
Describe and explain why a socialist system might be the best in responding to the needs of people struck by an emergency situation like the earthquake that occurred in Haiti in January 2010.
Describe the relation between marginal and average costs. Describe the relation between marginal and average fixed costs and between marginal and average variable costs and what best accounts for the saying "Too many cooks spoil the broth?"
1 sweaters are produced using machines and labour. the following table shows the isoquants associated with producing
Draw a supply-demand diagram of the kenyan mangoes market to illustrate both the autarky and free trade positions. make sure you use all the information presented in the some facts above?
Who is hurt and who benefits from each of the two types of inflation What is the impact that inflation has on our income List and describe two examples of when inflation may be understated as a result of how the CPI is measured.
research information on companies that have engaged in monopoly behavior, such as Microsoft, Google, or Wal-Mart, and explain how society has been affected by the monopoly behavior using that information.
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