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Draw a perfectly elastic demand curve on top of a standard U-shaped, average-total-cost curve. Now add in the marginal-cost and marginal-revenue curves. Find the profit-maximizing point, MR MC. Indicate the firm's total revenue and total costs.
a. If Firms B and C propose a merge, would the Antitrust Division likely challenge the merger Why or why not b. If firms G and H propose a merger, would the Antitrust Division likely challenge the merger Why or why not
If the Federal Reserve increases the money supply, what will happen to the AS-AD diagram you drew in part (a)? Will equilibrium output move closer to the natural level?
Suppose that to overthrow the status quo, an alternative requires 70 percent or more of the vote. Which property of voting is violated? In many committees the chairman has the casting vote. Which property of voting is violated?
Write down the modified version of the "divide the dollar" game in which player 2 can make a counteroffer if she does not accept player l's offer. After player 2 makes her counterofferif she doesplayer 1 can accept or reject the counteroffer. As b..
The equation for a demand curve has been estimated to be: Q=100-10P+0.5Y Where Q is quantity, P is price and Y is income. Assume that P=7 and Y=50. a.) At a price 7, what is the price elasticity b.) At an income level of 50, what is the income elasti..
Suppose that you can work anywhere from 0 to 24 hours per day at a wage of $1 per hour. You are subject to a tax of 50% on all income over $5 per day (the first $5 is untaxed). You elect to work 10 hours per day.
The Bureau of Labor Statistics currently produces only indexes for "all urban households" and "urban wage earners and clerical workers." Should the BLS produce such an index for the elderly?
Due to a manufacturing error, a parasitic resistor RP = 2 K? has appeared in the inverter of Fig. 15.45. If (W/L)1 = 3/0:18 and (W/L)2 = 5/0.18, calculate the low and high output levels and the trip point.
Suppose the following dynamic voting protocol is in effect: first, there is a vote between a and b; then the winner goes against c; and the winner of this contest will be implemented. Focus on SPE where voters do not use "weakly dominated" strateg..
The daily wage per worker is $80, and the price of the firm's output is $41. The cost of other variable inputs is $400,000 per day. Assume that total fixed cost equals $900,000. (Note: Assume that output is constant at the level of 100,000 units p..
why is the effect on equilibrium output finite? and How do I know that the multiplier is 1/MPS?
ross and jennifer are the only ones who eat donuts every morning at second cup. so they constitute entire market for
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