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Refer to the figure below. How much is consumer surplus in the monopoly outcome? a. Area C; b. Area R; c. Area D; d. Area C + D; e. Area C + R + D 37. Refer to the figure below. To maximize profit, what price should the firm charge? a. $18; b. $15; c. $8; d. $4 38. Refer to the figure below. The firm in question exhibits economies of scale: a. Along the decreasing portion of the long-run average cost curve (LRAC), up until Q0. b. Along the increasing portion of the long-run average cost curve (LRAC), after Q0. c. At Q0, where LRAC is minimum. d. Anywhere along the LRAC, as long as increasing the scale of operations does not affect cost per unit. Use the following table, which provides long-run information about the market for apples, to answer the next two questions. Price is price per pound of apples. Quantity Price Marginal Marginal Average (pounds) per Pound Revenue Cost Total Cost 100 $1.40 -- -- $2.00 200 $1.07 $0.74 $0.50 $1.50 300 $0.92 $0.62 $0.46 $0.75 400 $0.80 $0.44 $0.44 $0.70 500 $0.66 $0.10 $0.43 $0.65 600 $0.50 - $0.30 $0.50 $0.50 700 $0.30 - $0.80 $0.59 $1.00 39. Given the cost information above, a monopoly would charge a price of ______________ per pound and produce ________________ pounds of apples. (a) $0.80; 400 (b) $0.44; 400 (c) $0.50; 600 (d) $0.30; 600 40. Given the cost information above, a perfectly competitive industry would charge a price of ______________ per pound and produce ________________ pounds of apples. (a) $0.80; 400 (b) $0.44; 400 (c) $0.50; 600 (d) $0.30; 600
Demand Determinants: a. Each individual determinant analyzed for your situation, with examples applicable to your situation and research 2 points each)showing current demand data or most recent past data, except for the expectations determinant in wh..
q.between two production technologies firm can choose a new product line. if it installs expertise 1 its annually costs
q1. dynamic rather than static demand and supply conditions are typically observed in markets of real world. hence
Records show that 12% of all college students are foreign students who also smoke. It is also known that 60% of all foreign college students smoke. What percent of the students at this university are foreign?
What relationship, if any, exists between a firm’s market share to their average costs in a competitive market? Why might firms with cost advantage not expand indefinitely?
For what type of goods does law of one price hold quite well. Since PPP rarely holds at any point in time, is re any substantive meaning to terms overvalued or undervalued currency.
If the required reserve ratio is 8 percent, a new deposit of $10,000 in currency to the banking system, assuming banks all remain "loaned up", will result in an increase in money supply of $__________________. Show how you have found your answer.
1. Identify key processes in the organization, based on the perception and the allocation of responsibilities. 2. The tables contain primary source data.
Assume your town decides to levy a tax to raise funds for construction, maintenance also other expenses for local schools. Should the tax be proportional, progressive or regressive.
q1. market efficiencies and inefficiencies happen all around us. consider the definition of perfect competition and
If an autonomous decrease yields a new PAE expression, PAE = 195 + 0.6Y, find equilibrium and graph it on a Keynesian cross diagram and find the multipler. Please explain.
Multi part question what strategy was developed by Henry Ford to compete in car industry and in what ways did changes in the competitive environment of car industry affect GM strategy in 1980s?
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