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A monopolist faces a market demand curve given by: Q = 70 – P. This monopolist perfectly price discriminate among its customers. If the monopolist can produce at constant average and marginal costs of AC = MC = 6, what are the monopolist’s profits are equal to?
Social security was created as an “unfunded” or “pay-as-you-go” plan. Explain how an “unfunded plan works. Suppose we suddenly ended social security today. How would the return earned by the last generation of retirees compare to that earned by the f..
How many bushels will each of the farmers five acres produce and How much revenue will each acre generate? What are the TR and MR for each acre?
Chris Ricci has several credit cards, on which she is carrying a total current balance of $12,500. She is considering transferring this balance to a new card issued by a local bank. the bank adervtises that, for a @5 fee, she can transfer her balance..
Explain why would elasticity of demand be important to you in determining the products on which the taxes should be leived.
determine either the demand for student employees by the restaurant would increase, decrease, or remain unchanged.
If demand of a commodity increases with income,
Assume that demand for services per period is Pt = 1000 − Qt where Qt is the stock of the durable consumed. Let the discount factor for both consumers and the firm be one. For what values of c would a monopolist that leases its output introduce the n..
Show the effect in the market for wooden furniture, if the president passes a new law that say you cannot cut down any trees
Discuss how important it is to you that your organization’s workplace values are in accordance with your own values. What are the dangers of a disconnection between workplace values and individual values?
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..
In the poem Facing It by Yusef komunyakaa. Characterize the speaker of the voice you hear in the poem, what can you tell about the speakers experiences and feelings. How does the title fit the poem and the speaker? How does the last line fit?
Economists have devoted a lot of effort to estimating the natural rate of unemployment in particular countries at particular times. Is this a useless academic exercise, or are there good reasons to want to know this number? Explain.
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