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Part A: Use the first order conditions for profit maximisation to show that a monopolist will never produce on the inelastic portion of his demand curve.
Part B: "Compared with perfectly competitive markets, monopoly markets lead to inefficiency". Assume a monopoly faces the demand curve Q=120-P and has a cost function C (Q) =10+2Q (The Q is squared). Draw a clear fully labelled diagram showing monopoly profit maximisation. Calculate the quantity produced, the price, and the deadweight loss and clearly indicate them on the diagram.
New York, had a serious ice storm. Electric power was out in houses for many days. The demand for power generators rise dramatically, Yet the local businessmen did not increase their prices.
Explain the output and price effects which affect the profit-maximizing decision faced by the firm in oligopoly market. How does this differ from output and price effects in monopoly market?
A country with fixed quantities of resources is able to make any of the following combinations of bread and ovens.
how does charging the monopoly optimum and the welfare of consumers, the monopoly, and society?
In your role as new human resources manager, you plan to make a series of videos with various situations. These situations will allow the workers to view real life sexual harassment issues that they may have to deal with.
Consider the production function Q=100L^.5K^.4. Suppose L=1 and K=1 so that Q=100. Explain the nature of returns to scale for this production function.
Cammco Industries operates in a large competitive market. While there are some other comapnies in industry due to the high fixed costs of building plants, rival companies are very aggressive in their pricing strategies.
Discuss and explain the limitations of the United States "supply side" policy in the war on drugs. Can we win the war on drugs? Describe your position on legalization.
Using such areas as producing and information technology or any related industry or areas that have had high job growth rates explain a scenario that would cause a shift in labor supply and demand.
Show, using supply and demand analysis, impact on the equilibrium price and quantity of new Hybrid automobiles when following occurs. Using graphs, explain the change in equilibrium price and quantity,
Use demand and supply analysis to illustrate the changes in chicken prices described in the article. Describe what has happened in the corn and soybean-meal markets and how that has influenced the chicken market.
The table given below are the demand and supply schedules for television sets in Venezuela, a small country that is unable to affect world prices.
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