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If the monopolist is operating in the inelastic range of demand,
(a) it could raise total revenue by lowering price.
(b) it would be maximizing total revenue rather than profit.
(c) marginal revenue would be negative.
(d) it could increase profit by lowering its price and increasing output.
(e) it could increase profit by increasing both price and output.
In the Cutler, Glaeser and Shapiro paper entitled why have Americans become more obese? Name four testable implications that the proposed theory has for food consumption? and any solution for this problem?
Given a production Yt=(Abar)Kt^(1/3)Lt^(2/3) and K*=1000 and Abar=3/2. and also there are Lbar=1000 workers who supply labor in elastically. What does the long run model say wage in this economy is?
Would this have been the result of a change in Demand? If so, why; if not, why not? If not, what was the probable reason?
Discuss this week's objectives with your team. Your discussion should include the topics you feel comfortable with, any topics you struggled with, and how the weekly topics relate to application in your field.
q1. assume the unit cost for pogo sticks is 40 in north pogo as well as 8 in south pogo while the current exchange rate
increases the equilibrium GDP also the size of that increase varies directly with the size of the MPC
A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 60 - 0.25P, and the marginal cost of production is $80. Determine the optimal number of units to put in ..
She is considering quitting her job and going to university full time for four years.
Illustrate what is the maximum amount he or she would pay for insurance against a 50 percent chance of losing 3,600.
Suppose that Taher's pizza business operates under competitive conditions and that his short-run production function is q=20^E. How much labor does he employ if the price of each pizza is p = $12 and the hourly wage is w0 = $6? [Hint: In this case, i..
The financing of a government deficit increases interest rates also, as a result, reduces investment expenditure.
firm competing in a monopolistic competitive market. What conditions exist when economic profits are maximized.
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