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In Box City, Clear Vision, Inc. has a monopoly as the only cable television carrier in the city. (Assume for purposes of this question that Clear Vision is not regulated.) Suppose that demand for cable service is given by P = 28 - 0.0008Q , where Q is total market quantity of units of service and P is price per unit of service. Assume that Clear Vision's short-run total cost function is given by TC = 120,000 + 0.0006Q2, and that Clear Vision's corresponding marginal cost function is given by MC = 0.0012Q .
(a) Find Clear Vision's profit-maximizing output and price. Determine the resulting profit for Clear Vision.
(b) Suppose that Box City imposes a (specific) tax of t = $1 per unit of service. Find Clear Vision's new profit-maximizing output, price, and profit. (Recall that in class we went over how a tax of this sort alters the total cost function and marginal cost function.)
Enrodes is a monopoly provider of residential electricity in a region of northern Michigan. Total demand by its 2 million households is Q4 = 1,000 P and Enrodes can produce electricity at a constant marginal cost of $2 per megawatt hour.
nbspa decrease in government spending will cause anincrease in the quantity of real domestic output demanded.decrease
Suppose a firm operates as a price taker in a perfectly competitive industry. The firm’s Total Cost function is given by TC = a + bQ +cQ2. Therefore the firm’s marginal cost is given by b +2cQ. Find an expression for the Breakeven Price.
Determine the trade balance between the U.S. and China for the most recent five year period - Illustrate the trend over period with a graph of the data.
Suppose the Fed does not change the money supply. According to the theory of liquidity preference, what happens to the interest rate? What happens to the aggregate demand.
"Anjali and Sanu are married, and Sanu is the breadwinner. Anjali provides 4 non-market hours of service daily, and her productivity at home is $15. Sanu's earnings are $20/hour, and his productivity at home is $10/hour. Draw his daily budget constra..
university is probably an M-form organization. Its president administers schools, for example, a college of business and a college of liberal arts. The college of business Each of these in turn has a dean who is responsible for faculty departments..
Corn is a key input in the poultry, dairy, hog, and cattle industry. Ellucidate effect has the sharp increase in the price of corn had on these industries.
When the price of paper increases from $100 to $120 per ton, the quantity supplied increases from 200 to 210 tons per day. The price elasticity of supply is?
over the past decade many media articles have discussed the topics of coutsourcing and cemerging markets voicing
The law of comparative advantage recommends that countries specialize in those products in which they have a comparative advantage, not an absolute advantage.
it does not allow for the health of our children, the quality of their education, or the joy of their play. id does not include the beauty of our poetry or the strength of our marriages, the intelligence of our public debate or the integrity of ou..
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