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Suppose the inverse demand function and cost function for a monopolist's product are given by: P=5-Q and C(Q)=3Q a) if the firm wishes to maximize total revenue, how much output should it produce? b)if the firm wishes to maximize total revenue, what price should it charge? c) at the revenue maximizing level of output and price, what is the elasticity of demand for the firm's product? d) if the firm wishes to maximize profits, how much output should it produce? e) if the firm wishes to maximize profits, what price should it charge? f) what are the firm's maximum profits?
Someone say that capitalism is designed to create the rich richer and poor poorer. Enron raised benefits from 96 to 99 for yearly report purposes,
If at a point in time long term interest rates were below short term interest rates, what would this indicate about investors expectations of future short term interest rates? Explain your answer in a few sentences.
Assume that you are an advisor to the United States section of Justice, the agency with responsibilities that include, among others, the power to approve or disapprove proposed business mergers in the U.S.
Calculate marginal pdf's of both variables and calculate the probability that Bobo has fun if Bobo studies economics.
Traditionally, how have estimated labour supply elasticities differed between men and women? How can economic theory explain this? Outline the relevant empirical evidence from the more recent literature? No more than 1200 words.
in supply management one component to explore is how an organizations supply chain helps to achieve a strategic
Residents of your city are charged a fixed weekly fee of $6 for garbage collection. They are allowed to put out as many cans as they wish. The average household disposes of three cans of garbage per week under this plan.
monopoly1.a monopolistic firm has the short-run marginal cost functionmc 20 4qwhere k capital is fixed and l laboris
Describe how this change affects output both immediately and over time. Is the steady state effect on output larger or smaller than the immediate effect?
1 discuss the process of money creation by the commercial banks2 suppose the central bank sells 5 billion worth of
explain how the circular flow diagram relates to the current economic situation. using the circular flow diagram
Suppose that the most popular car dealer in your area sells 10 percent of all vehicles. If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car deal..
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