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Suppose you are a monopolist operating two plants at different locations. Both plants produce the same product; Q1 is the quantity produced at plant 1, and Q2 is the quantity produced at plant 2. You face the following inverse demand function: P = 500 - 2Q, where Q = Q1 + Q2. The cost functions for the two plants are C1 = 25 + 2Q12; C2 = 20 + Q22.
a. What is your marginal revenue and marginal cost functions?
b. To maximize profits, how much should you produce at plant 1? At plant 2?
c. What is the price that maximizes profits?
d. What are the maximum profits?
Answer the following questions as these general questions pertain to the specific issue selected.The questions that you will cover with respect to your choice of broad social issue in the paper are given.
Explain how an increase in interest rates initiated by the Federal Reserve affects:
Briefly accounting describe two limitations of national income. On the basis of these data calculate GDP, GNP, NDP, NI, PI, and disposable personal income.
Provide brief but theoretically sound explanation for each of the following.
The demand function for VCRs has been estimated to be Qv = 123 - 1.7Pt + 46 Pm - 2.1Pv -5M, where Qv is the quantity of VCRs,Pt is the price of a videocassette, pmis the price of a movie, Pv is the price of a VCR, and M is income.
The kinked-demand schedule that an oligopolist believes confronts the firm is given in the table below. Compute the oligopolist's total revenue at each of the nine prices
Compute total revenue, marginal revenue, marginal cost, and average total cost of this natural monopoly. What is the profit maximizing output and price for this natural monopoly when the government does not regulate it?
Enrodes is a monopoly provider of residential electricity in a region of northern Michigan. Total demand by its 2 million households is Q4 = 1,000 P and Enrodes can produce electricity at a constant marginal cost of $2 per megawatt hour.
Is this type of bonus structure in the interest of the company? Use theoretical and graphical insights from chapter five of the textbook to explain your reasoning.
Discuss the limitations of this model as an explanation of the effects of government expenditure on GDP.
The socio-economic shortcomings that China experienced
The nation is divided into __12______ Federal Reserve districts, each having a Federal Reserve Bank.
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