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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).
Explain the process for obtaining an annual filing report for a corporation currently registered in California
Joanne has decided to buy the Hummer and set up a commuter service between Boston and Lowell. There are 1000 people who will pay $400 a year for the commuter service; $280 from each person goes for gas, maintenance, insurance, depreciation etc.
Write down the difference between Equilibrium price and Equilibrium quantity. What role does elasticity place?
Think that the following entry game. Here, company B is an existing company in the market, and company A is a potential entrant. Company A must decide whether to enter the market or stay out of the market.
The value of good A goes up. As a result the demand for good B shifts to the left. From this we can infer that, Suppose that the current market value is below the market clearing level.
John has been in the habit of mowing Willa's lawn each week for $20. John"s opportunity cost is $15, and Willa would be wlling to pay $25 to have her lawn mowed.
As an worker of World Bank, you have been tasked to research one economic concern in an Asian nation and write a report on your findings.
As in part A there is a 50% chance the share market crashes. If John maximises expected utility, what value of ß should he choose?
Explain the relationship among household disposable income, consumption, and savings. What is Marginal Propensity to Consume (MPC) and what does an MPC of 0.9 tell us about consumption and saving?
What incentives does a capitates physician have to keep his patients happy? What incentive does an FFS physician have?
Derive the firm's supply curve, expressing quantity as a function of price. Derive the market supply curve if North Carolina Textiles is one of 1,000 competitors. Calculate market supply per day at a market price of $47 per unit.
The major changes that have forced differences are changes in the place of women in society as more equal in terms of jobs and working, more out of wedlock births creating more single families, less stigma by society on men who do not participate ..
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