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ABC is monopoly seller of aluminum in the United States and sells no aluminum on world market. It sells aluminum domestically for $2500 per ton and its average expense is $2200 per ton. The world price is $2000 per ton. (High tariffs prevent foreign firms from exporting into the U.S.)
True or False: "Obviously, ABC should not sell any aluminum on the world market." (Assume if it did it would have effect on the world price- the world market is perfectly competitive.) How if at all would your answer change if you know that ABC's technology had decreasing returns to scale? Explain.
The Apollo Products Company currently collects all of its customer payments in Detroit. By going to a new lock box system with boxes in Los Angeles, Boston, and Atlanta, Apollo Products can reduce the total time it takes to convert customer paymen..
what is the least-cost input-combination of labor and capital and how much output is produced with that set of resources?
You manage the plant the mass produces engines by teams of workers using assembly machines. The technology is summarized by production: Find out the short run production function? Find out the total cost function for your plant to produce q engines ..
Assume that the price was 5% lower and all other factors do not change. How much more would you buy each year? Using this information, compute the own-price elasticity of your demand.
Discuss how the interplay between economies of density and the properties of hub-and-spoke networks give rise to economies of scope.
Assume that the monopoly faces the inverse market demand function: What should be the monopoly's profit-maximizing output?
What price and quantity will monopolist produce at if the marginal cost is constant $4.00? Compute the deadweight loss from having the monopolist produce, rather than the perfect competitor.
Find out the quantity demanded, the quantity supplied, and the magnitude of the shortage if a price ceiling of $30 is imposed in this market. Also determine the full economic price paid by consumers.
Company A plans to produce 300,000 units next year, the production budget is: Compute the total cost and cost per unit when the unit production is changed to 315,000 units.
To maintain utility constant an income adjustment brought the student to consume the basket (61,92). What are substitution effects and the income ?
You're the manager of monopolistically competitive firm. The present demand curve you face is P=100-4Q. Your cost function is C(Q)=50+8.5Q2 (That's Q squared).
Suppose if the public's demand for United States currency increased by $100 Million what action in the "open market" would the Fed have to take to prevent bank reserves from falling?
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