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A retailer has an exclusive license to sell a line of handbags. The bags are so distinctive that consumers do not consider any competing offerings to be close substitutes. The retailer thus can be treated as a monopoly. The demand for the handbags is given by P=300-0.1Q. The marginal cost is constant and equal to 40, so variable cost is 40Q. The fixed cost is 90,000. Find the monopolist's profit-maximizing quantity.(Format: answers must be within 2 of the true value to be counted as correct. Do not include commas, dollar signs, or plus signs.)
Demand curve is d1, what will be the change in her revenue. If her demand curve is d2 what will be the change in her revenue.
The FOMC wants to expand the money supply by $120 million and decides to buy bonds on the open market. Suppose the reserve requirement is 40% and banks do not hold any excess reserves. Which of the following is an alternative monetary policy that the..
Consider the traditional farm problem: Food can be viewed as a necessity, and overall has a price-inelastic demand. Suppose that 10% of each farmer's crop were destroyed. What is the effect on farmer income? If the price elasticity of demand is -0.5,..
Assume that Omar's marginal utility for cups of coffee is constant at 1.5 utils every cup no matter Elucidate how many cups he drinks.
Among their many functions, financial institutions. In an interest rate swap, the size of payments swapped is determined by. Under the efficient markets hypthesis: Suppose I am given a choice between $8800 today or $10,000 in 3 years. If I choose to..
A monopolist produces a product which has high investment cost. The marginal cost of the product is very small ( negligible ) . The monopolist has a patent for the product. a. Show in a chart the price of goods that would arise if the company is unre..
There are three groups in a community. Their demand curves for public television in hours of programming, T, are given respectively by. What is the efficient number of hours of public television? How much public television would a competitive private..
David’s firm experiences diminishing returns after producing the 8th unit. The total cost curve associated with David’s firm after the 8th unit:
The own price elasticity of demand for gasoline is estimated to be 0.6.
What does Cohen feel is the social responsibility of a business to its workers, stakeholders, and society as a whole and how does this perspective align with that of Drucker?
The government often strictly regulates noise and chemical pollution by industry to overcome which market failure?
Specialty Steel has carefully measured production in its new plant to determine whether it is technically efficient in production. It has found that, for its two inputs K and L, it has the following marginal products: MP_K = 12 units and MP_L = 20 un..
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