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Q1. Demand for a product of a monopoly is given as Q=100-2P.
(a) Graph demand and marginal revenue of the firm.
(b) Find the revenue maximizing cost and quantity of the monopoly.
(c) Prove which at the revenue-maximizing quantity, cost elasticity of demand equals one.
(d) Find the cost elasticity when cost of the product is $30.
Q2. A monopoly has the cost function, TC = 1/3Q3 - 5Q2 + 23Q + 25, where TC is the total cost and Q is the output. Illustrate what is the profit-maximizing level of output, if the market demand is given as Q = -2p + 90.
At the 0.05 level of significance, is there evidence that the population mean force is greater than 1,500 pounds? What assumption about the population distribution is needed in order to conduct the "t test" in (a)?
Write down the profit maximization problem for the rm.
Given current employment, the marginal product of the last worker in Mexico is 100, and the marginal product of the last worker in the U.S. is 500.
Suppose as to what might be the four firm concentration ratio for corn growers in the US
Louie produced 300 fire trucks. What action leads to both gains in revenue and loses in revenue for Louie.
Evaluate the effect of each of these four changes on demand based on the estimates provided and what is the net effect of all the changes taken together
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There has been much political discussion about redistributing income. These ideas are not new. Name and elucidate the three political philosophies of redistributing income. Do you believe any of them have merit.
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Illustrate what is the probability that this worker is a college graduate. A non-college graduate. Are educational achievement and employment states independent
For depreciation purposes, the purchase cost of the warehouse is divided into $100,000 in land also $400,000 in building. The building is a CCA Class 1 asset also is depreciated accordingly.
q1. markets left alone always tend to equilibrate that is find their way back to the equilibrium point. what is
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