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Suppose that you are hired as a consultant to a firm producing a therapeutic drug protected by a patent that gives a firm a monopoly in two markets. The demand schedule in the first market is P1 = 200 - 2Q1, where P1 is the price of the product and Q1 is the amount sold in the market. In the second market, the demand is P2 = 140 - Q2, where P2 is the price and Q2 the quantity. The firm's marginal cost is 20.(1) If the firm can charge different prices in different markets, what price should it charge in each market? (2) If the firm must charge the same price in the two markets, what price should it charge?(3) Now suppose the firm's overall marginal cost is MC = 20+Q1 +Q2. If the firm cannot price-discriminate (the same price in the two markets), what price should it charge?
Suppose that the market for some product has a linear downward?sloping demand curve and a linear upward sloping supply curve. Then suppose that the price of a substitute good increases and the price of an input to production also increases.
The principal-agent problem arises when the interests of owners and workers diverge. because of diminishing marginal returns. when the interests of owners and workers converge. because of the profit incentive.
Suppose that a system of unemployment compensation isinstituted in the country, and the average duration of unemploymentrises for two months: a )What will be the unemployment rate for this economy now
explain to a martian what eigenprices are assuming no academic economic knowledge or understanding of mathematical
Assume that the following data characterize the hypothetical economy of Trance: money supply = $180 billion; quantity of money demanded for transactions = $160 billion; quantity of money demanded as an asset = $10 billion at 12 percent interest, i..
Can you identify factors that led to our country's trade deficit? Do you believe our country has developed a great dependency upon foreign goods and natural resources in which manufacturing and production have been hindered domestically as a resul..
If you can enter only one market, and the cost of entering the market is $250,000, should you enter one of the European markets. If you enter, what is your potential profit.
Consider three consumer goods: 100 of Good A, 100 of Good B, and 100 of Good C. In the base year, Good A sold at a price of $1, Good B sold at a price of $1, and Good C sold at a price of $1. In the current year, Good A sold at a price of $3, Go..
a doctoral student has just completed a study for her dissertation and found the following demand and supply schedules
Identify and describe the effects of a change in money supply on the interest rate. Explain the money multiplier and the money creation process.
given the following information answer the following questions tr 3q tc 1500 2q a. what is the break-even level of
Calculate the marginal revenue product given this information and how many real estate agents will the manger hire if the wage rate is $32,000? Why?
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