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Suppose you have been tasked with regulating a single monopoly firm that sells 50-pound bags of concrete. The firm has fixed costs of $30 million per year and a variable cost of $4 per bag no matter how many bags are produced.a. If this firm kept on increasing its output level, would ATC per bag ever increase? (YesNo). Is this a decreasing-cost industry? (YesNo). b. If you wished to regulate this monopoly by charging the socially optimal price, what price would you charge?( $ per bag.) At that price, what would be the size of the firm’s profit or loss? At that price, the firm's profitloss equals $ million. Would the firm want to exit the industry? (YesNo). c. You find out that if you set the price at $5 per bag, consumers will demand 30 million bags. How big will the firm’s profit or loss be at that price?.d. If consumers instead demanded 40 million bags at a price of $5 per bag, how big would the firm’s profit or loss be? At that price, the firm's profitloss equals how many million? e. Suppose that demand is perfectly inelastic at 40 million bags, so that consumers demand 40 million bags no matter what the price is. What price should you charge if you want the firm to earn only a fair rate of return? Assume as always that TC includes a normal profit.$ per bag.
Following the collapse of systemically important banks in 2008, were the G-20 group of countries right in early 2009 to coordinate their fiscal policies and increase government spending? How would you distinguish the effect of such a policy on (i) co..
An engineer designs an improved light bulb. The previous design had an average lifetime of 1200 hours. The mean lifetime of a random sample of 2000 new bulbs is found to have a mean lifetime of 1201 hours.
What is the effective interest rate of an investment if the nominal annual interest rate is 2.09% and it is compounded semi-annually? Express your answers as a percent to two decimal places?
During the recession of 2001, despite the reduce in aggregate Demand the price level was essentially stable. That of the following is a reason for this.
q.1. an investor buys a property for 1 million with 40 of the purchase price attributable to the land and the balance
If the economy is facing rising levels of inflation, what would the Fed do with its three monetary control tools? Why does the Fed buy government securities during a recession?
Suppose that an increase in the price of carrots from $1.30 to $1.80 per pound increases the quantity of carrots the carrot farmers produce from 1.2 million pounds to 1.6 million pounds. Using the midpoint method, what is the approximate value of the..
Given two countries (A and B) and two goods (X and Y) model with identical endowments: Draw the PPF for Country A that displays increasing opportunity costs and also shows that country A that displays increasing opportunity costs and also shows that ..
Why do members of the House and Senate follow complex, arcane rules and precedents in processing legislation even when such devices keep majorities from getting their way?
Suppose a country produces two final goods, Pizzas (Ps) and Tacos (Ts). In Year 1 it produced 10 Ps at a price of $5 each and 50 Ts at a price of $1 each. In Year 2 it produced 15 Ps at a price of $6 and 50 Ts at a price of $2. If Year 1 is the base ..
Describe how a developing/emerging economy can benefit from trade with a wealthy country even if it has no absolute advantages. How can they benefit from trade with a poor country?
Explain how an economy with a shortterm equilibrium below the longterm equilibrium will adjust to bring the two into alignment. Explain how an economy with a shortterm equilibrium above the longterm equilibrium will adjust to bring the two into a..
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