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Suppose a monopolist can purchase Labor at a price w = 36 and can purchase Capital at a price r = 25. The monopolist's production function is given by Q = L1/2K1/2. The demand facing the monopolist is given by P = 180 - 3Q. What is the Monopolist's Total Cost Function? What is the Monopolist's Marginal Cost? Complete the following table. In the first column, find the values for the Monopolist. In the second column, find the values if the market were instead perfectly competitive. Monopoly Perfect Competition Price Quantity of Output Consumer Surplus Producer Surplus Deadweight Loss Lerner Index
The supply of paper is described by the following equation Qs= 5000 P where Qs is tons supplied per year and P is price per ton. demand is Qd= 400,000-1000 P there Qd is tons demanded per year. because of the pollution associated with paper produc..
You just inherited $10,000. while you plan to squander some of it away, how much should you deposit in an account earning 5% interest per year if you'd like to have $10,000 in the account in 10 years
the PPC for each state, and then draw the graph for the PPC of the two states combined. On each graph, put the quantity of wheat on the vertical axis, and the quantity of corn on the horizontal axis. Be sure to label your graph carefully to receiv..
Assume the interest rate (and your discount rate) is 10 percent what is the actual payoff The correct answer is $13,518,048 (rounded to the nearest dollar) But I keep getting $12,289,134 (rounded to the nearest dollar)
The firm's production manager claims that the firm's average cost of production is minimized at an output of 40 units. Furthermore, she claims that 40 units is the firm's profit-maximizing level of output. Explain whether these claims are correct.
Suppose that the reserve requirement is 3% on the first 30 million of checkable deposits and 10% on the checkable deposits in excess of 30 million. (Amounts on the balance sheet are in millions of $) Assets- Reserves 15.9, Loans 150.0, Securities 3..
The energy Department estimates that domestic demand for natural gas will grow by more than 40 percent between now and 2025. Distinguish between a demand function and a demand curve.
A sales engineer has the following alternatives to consider in touring his sales territory. (a) Buy a new car for $14,500. Salvage value is expected to be about $5000 after 3 years. Maintenance and insurance cost is $1000 in the first year and inc..
Suppose that the demand for labor in an economy is Ld = 100 10W, where W = wage in dollars per hour and L = number of workers. The labor supply of native workers is 50 million, and it is perfectly inelastic. Suppose that this economy experiences a..
What is meant by the term, path dependency and discuss how path dependency has effected the development of two major Australian economic institutions.
The purchase price of a natural gas- fired commercial boiler (capacity X) was $181,000 eight years ago. Another boiler of the same basic design, except with capacity 1.42X, is currently being considered for purchase. If it is purchased, some optio..
The mayor considers engaging in direct quantity regulation (also called "command- and-control") and declares that each firm must engage in 42.5 units of pollution abate- ment. If the plants are controlled by the same firm, would it be socially optima..
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