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1. Explain how consumer surplus changes when a monopoly price discriminates.
2. Explain how consumer surplus, economic profit, and output change when a monopoly perfectly discriminates.
Describe the equilibrium price and quantity, producer surplus and consumer surplus.
Compute the amount of the natural employment deficit in terms of both billions of dollars and as a percent of natural real GDP.
Four Seasons Hair Salon is the only women's hair stylist in Lake View. A business consultant has estimated its monthly cost functions as follows: TC = 2000 + 80 Q + 0.05 Q 2 MC = 80 + 0.1 Q The firm is faced with the following demand: Qd = 800 - 4 P...
q1. select two products or services with which you are familiar - one produced in the u.s. and the other produced in
Write down the decision box which combines the letter grade also the amount of fun you have into a single payoff for each outcome.
The filling variance for boxes of cereal is designed to be .02 or less. A sample of 41 boxes of cereal shows a sample standard deviation of .16 ounces. Use ? = .05 to determine whether the variance in the cereal box fillings is exceeding the design s..
If you were a supplier to the furniture producer, would have chosen to see the analysis performed in physical sales units rather than dollars of revenue.
Distinguish between the resource market and product market in the circular flow model. In what way are businesses and households both sellers and buyers in this model.
Think about the eight symptoms of "GroupThink" as discussed in the text. Have you experienced these symptoms in groups that you are a part of or are aware of? How was the decision affected?
What is your monthly interest rate and what is your annual effective interest rate? If you have an outstanding balance of $1,800 on that card what would be the balance if you skipped 4 months payments (ignore credit card fees and penalties)
In April 1978, Fidel Castro announced that Cubans who wanted to leave Cuba for the United States could do so from the port of Mariel, Cuba. Within 6 month, about 125,000 (mainly) lowskill Cubans had flowed through Mariel for Miami, resulting in a sud..
Suppose you are a manager at Bank of America and the Federal Reserve raises the required reserve ratio from 10 percent to 12 percent. What actions would you have to take? How would your actions and those of other bank manager’s end up affecting the m..
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