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The market demand is P=100-1.5Q and marginal & average costs are constant at 10 (MC=AC=10) find the monopoly price and quantity. Find the perfect competition price and quantity. Calculate profit, social welfare (consumer and producer surpluses), and dead weight loss in both situations. if a duopoly exists and produces quantity Q=50, calculate the price and profit of each firm
A manufacturing company leases a machine for $31,000 per year. Each unit produced costs $36 in labor and $65 in materials. To break even, 21,000 units must be sold. What is the price of the product?
A newspaper has a monopoly on the local news market in a town. The market demand is given by P=1.70-Q/20,000, making the marginal revenue MR=1.70-Q/10,000. The marginal cost is constant at equal to 0.80. The fixed cost is 2,000. So, the total cost is..
Calculate price, quantity and social surplus for the initial state and each policy.
Illustrate what risks do you face. Upon inquiry at your bank, you find that the forward price for a September contract to buy dollars is 10SKr per dollar. How might you hedge your exchange-rate risk for the first year.
Explain the following concepts: demand schedule, demand curve, supply schedule, supply curve. Then, list the determinants of demand and explain how a change in each determinant affects the demand curve. Do the same for the supply.
jane works part-time and earns 12000 per year. because she is below the poverty line she also earns 4000 in various
For a firm to be economically efficient from society's point of view, it should produce at the point at which:
Study by the National Park Service revealed that 50 percent of vacationers going to the Rocky Mountain region visited Yellowstone Park, 40 percent visit the Tetons, and 35 percent visit both.
Why did the ban effect the price? Illustrate using a figure and explain. Show the welfare effects in your figure. Use a table to show who gains or loses.
Illustrate what do you think would occur when there is little or no competition is a marketplace
What is the own price elasticity of demand when price is $100? Is demand elastic or inelastic at this price? What would happen to the firm’s revenue if it decided to charge a price above $100? What price should you charge in order to maximize the fir..
hat is American's MRTS between K and L? MRTS between K and F. Should American try to ensure that all its MRTSs are equal. Explain what does American's production function exhibit constant, increasing, or decreasing returns to scale.
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