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A monopoly firm faces a demand curve given by the following equation: P = $500 − 10Q, where Q equals quantity sold per day. Its marginal cost curve is MC = $100 per day. Assume that the firm faces no fixed cost.
a) Suppose a tax of $1,000 per day is imposed on the firm. How will this affect its price?
b) How would the $1,000 per day tax affect its output per day?
c) How would the $1,000 per day tax affect its profit per day?
Why should a government be concerned with the pricing of products that a company transfers to an affiliate in another country? Please explain in terms of taxation and exchange rates.
Besides specialization there are a number of other economic advantages to marriage. Provide a brief explanation of the following concepts and how they related to marriage:
Now, suppose that following the supply and demand changes in (a), a substitute good goes up in price, and your costs of production increase. What new decisions will you make regarding production levels and pricing for your Widget facility?
q1. elucidate how a person who refuses an offer of employment in order to keep looking for a better job is counted by
How does the law of diminishing marginal utility fit into an analysis of the demand for health care? Give some examples of decisions concerning health care where you personally are indifferent between getting medical care or doing without medical car..
An increase in supply produced, all other things remaining the same: A. Shifts demand and lowers the equilibrium price B. Increases supply and lowers the equilibrium price C. Lowers the equilibrium price only D. The effects on demand and supply are i..
In each of the following situations, what type of unemployment is Melanie facing? Explain.
A central bank that prefers to use monetary policy to target interest rates consistent with domestic goals--low inflation, low unemployment, and high growth--will most likely pursue:
select a new good or service for an existing business or a business that you want to develop. write a 2500- to
The dead weight loss (owing to a price ceiling) increases as demand becomes more ______ and supply becomes more ______.
Suppose a certain state increases the license fees that physicians must pay from $500 to $2000 per year. Trace out the impact of the increase in fees an average cost, average variable cost, fixed cost, and marginal cost for physicians operating in th..
A bank developed a model for predicting the average checking and savings account balance as balance = -17,732 + 367 X age + 1,300 X years education + 0.116 X household wealth. Explain how to interpret the numbers in this model.
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