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If the demand schedule for Bong's book is Q = 2000-100p, the cost of having the book typeset is $9000, and the marginal cost of printing an extra book is $4, then he would maximize his profits by
a) having is typeset and selling 800 copies.
b) having it typeset and selling 1,000 copies.
c) not having it typeset and not selling any copies.
d) having it typeset and selling 1,600 copies.
e) having it typeset and selling 400 copies.
If you decide to use $34,000 as your working estimate of marginal costs, what increase in Custom's purchases would be necessary for the proposal not to reduce GM's profits on this account?
Mankiw discusses that if federal authorities suppose responsibility, entire financial system might well become a group of government sponsored enterprises.
give a numerical example to show that a monopolists marinal revenue can be upward-slping over prt of its range. hint
Which of these economic variables is procyclical and coincident?what did the U.S. business cycles in the early 1890s and early 1930s have in common?
Jeans and alligator or animal shirts: The plain pocket jeans and the Lacoste knockoffs often cost 40% less than brand-name items, yet the knockoffs are essentially identical to the brand-name items.
By specializing in the production of particular goods in which it has a comparative advantage, a nation is:A) less likely to make efficient use of available resources.
Suppose that a natural monopolist was required by law to charge average total cost. On a diagram, label the price charged and the deadweight loss to society relative to marginal cost pricing. Briefly explain your diagram and comment on the results..
mathew has the utility function u vxy where y represents apples and x represents hot dogs income of 20 and is deciding
Instead of asking for a price, you offer to give them the product in exchange for 50% of their cost savings. Describe the information asymmetry, the adverse selection problem, and why soft selling is a successful signal.
Calculate what would be the minimum annual vehicle use in km/year that would justify the choice of a diesel engine car over the petrol version? Does this correspond to your answer to 4) above?
1. consider the budget set of an individual who consumes health care hc and all other goods og . set up the equation
The government levies an excise tax of five cents per unit sold on sellers in a competitive industry. Supply and demand curves have some elasticity with respect to value.
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