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Instead of pursuing profit maximization through marginal cost pricing, the reg- ulated natural monopolists are required to follow the average cost pricing. In the average cost pricing, a natural monopolist firm sets its price at the level where the demand curve intersects the average cost ATC curve. This policy, compared to marginal cost pricing, leads to production of a larger volume of output at a relatively lower price.
What is the level of output and price if a natural monopolist with the cost function TC = 0.3Q3- 8Q2+ 120Q and market demand function
P = 100 - Q follows the average cost pricing? (From 2 possible solutions choose the larger one.) Compare this solution to the profit maximizing solution.
Pretend you are a neoclassical (free-market or environmental economist), new institutional (transaction cost or ecological), and instutional economist-from the perspective of the cost benefits of "going green" for major utilities (electricity, was..
Describing how specific system used in an organization
Because credit card companies and banks must charge the same interest rate on credit cards to all borrowers, there is an adverse selection problem with credit cards.
1.Suppose that two players are playing the following game. Player A can choose either Top or Bottom, and Player B can choose either Left or Right. The payoffs are given in the following table where the number on the left is the payoff to Player..
Presume a proposed public policy could result in three possible outcomes: (1) present value of net benefits of $4,000,000, (2) present value of net benefits of $1,000,000, or (3) present value of net benefits of –$10,000,000 (i.e., a loss).
Some firms will lobby their legislative bodies to impose barriers to entry. Can anyone think of groups or firms that do this?
This problem is aimed at understanding the breakeven selling price for a company. Assume you have started up a company for an initial investment called “Invest”. The return you expect is WACC. The investment can be written off over the length of the ..
Determine Acme's total profit function. Assuming that Acme is effectively able to charge different prices in the two markets, what are the profit-maximizing price and output levels for the product in the two markets? What is Acme's total profit und..
derived a supply function for the relation between price and quantity
1. Explain the difference between general-equilibrium models and partial-equilibrium models. How are the numbers of endogenous and exogenous variables related to whether a model is a partial-equilibrium or general-equilibrium model?
compare menas socio-economic and political structures with those prevailing in other regions of the world during the
Why did the prices of the other items change? What is the probable impact of the change of other items in the CPI basket?
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