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Demand for microprocessors is given by P=35 - 5Q where Qis quantity of microchips in millions. The typical firm’s total cost of producing a chip is Ci=5qi where qi is the output of firm i.
A. Suppose that one company acquires all the suppliers in the industry and thereby creates a monopoly. What are the monopolist's profit maximizing price and total output?
B. Compute the monopolist's profit and the total consumer surplus of purchasers.
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What effect wills an increase in interest rates have on supply and/or demand of unskilled labour. Would wage rates increase or decrease.
If there are 12 identical firms in this industry and the market demand curve is given by QD = 360 - 2P, what is the short-run equilibrium price?
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insist that this represents a rightward shift of aggregate demand curve. Who is right. Explain.
According to the absorption approach, does it make any difference whether a nation's currency depreciates when the economy is operating in less than full capacity versus a full capacity?
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Assume the firm does enter the market and that, over time, increasing competition causes the price of telephones to fall to $35. Under these circumstances, what would be the firms optimal output, price and profit (or loss).
Suppose also that ham and cheese are the only goods that this person buys and that bread is free.
In which instance will total revenue decline?
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