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SOLO Inc. is a monopolist in a particular market. It has estimated that the demand for its product is P = 16 - (Q / 2,000) , and the marginal cost of production is MC = 4 +(Q / 1,000) . If the firm uses uniform pricing, then to maximize profits it should produce.
Can you think of an existing product that has been repositioned by finding a new market with a different need than the original product? Think of Croc's Shoes, for example. They repositioned from a casual, fun shoe to a practical work shoe for nurses..
Assuming that the price level is P = 1, find the equilibrium real output, interest rate, consumption, and investment. Organize your results in the following table. (Hint: You should solve both the goods market and the money market equilibrium.) Now a..
The true cost of monopoly power to society is attributable to: Natural monopolies are distinguished by. Price discrimination:
The price elasticity of demand for a firm's product is equal to -1.8. The firm currently sells 4,000 units per day at a price of $2. If the firm increases its product price by 10%, then it can expect to sell approximately
As a result of several factors, aggregate demand decreased during the Great Depression. One factor would be:
Suppose the economy is at full employment with expected inflation rate 7% and nominal interest rate 11%. Suppose now that the expected inflation rises to 9%. After this change. What is the nominal interest rate? What is the real interest rate?
A cigar seller notices that the demand for cigars is highly inelastic. In an attempt to increase revenue, he lowers cigar prices. Explain briefly whether he has made the right or wrong decision and why? For full credit you have to use a diagram to ma..
"The role members of Congress serve in acting on behalf of the interests of the home constituents and nation regardless of whether constituents would immediately approve of the members' decisions" If you were a legislator and had to decide whether to..
Assume that a piece of equipment has a replacement cost of $10,000 and an 8-year life. Calculate its annualized cost at an interest rate of 15%. Show your calculations.
Consider two consumers, John and Maria, each with an quantity of two goods: corn and sugar. Suppose now that John has 40 G and 0 S and that his MRS(GS) is 1G/1S. Maria has 20 G and 70 S and her MRS(GS) is 3G/1S. Are there gains to be had for both Joh..
The Commerce Department revised its estimate of real GDP to $3.877 trillion, up from the earlier estimate of $3.835 trillion. Before adjusting for inflation, GDP was $4.603 trillion, up from $4.523 trillion.
Illustrate what role did the policies of various governments play in influencing the international expansion strategies of both.
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