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Suppose a monopolist’s costs are described by the function C = 200 + 2Q2, and it faces a demand curve of Q = 240 – p.
1. If it cannot price discriminate, what are the profit-maximizing price and quantity? What are profits?
2. If the monopolist uses block pricing by setting an intermediate price, but cannot charge more than two different prices in total, what would be the best prices to choose? How does the use of an intermediate price change profits and consumer surplus compared to the single price result?
when final sales are larger than gdpa. inventories did not changeb. a net increase in inventories took placec. a net
What examples of 1) elasticity, including an explanation of why or how they demonstrate the concept of elasticity; and 2) examples of externalities, again including an explanation of why or how they demonstrate the concept of externalities
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Suppose a firm is doing the best that it can and faces the following data: TR = 40, FC =20, VC =50. Should this firm exit the market immediatly? Explain. Should this firm exit the market in the long run? Explain
Suppose that currency in circulation is $500 billion, the amount of checkable deposits is $1,000 billion, excess reserves are $150 billion, and the required reserve ratio on checkable deposits is 10%. Calculate the money supply, the monetary base, th..
The central bank new head decides to increase the response of interest rates to inflation. Explain how does this change in policy alter the response of the economy to a supply shock.
Define national income as total income of all capitalists in a country plus total income of all workers (including immigrant workers) in the same country. Per capita income is defined as national income as defined above divided by all people in the c..
How is GDP a measure of both output and income? How is it possible that both measures of GDP - income and expenditure approach - can end up with the same number?
If this price floor is implemented, how many units of pork will the government are forced to buy to keep the price at $2.25.
Snow peak Ski Resort offers a price for a lift ticket that is barely over its marginal cost, but the high equipment rental fee keeps generating big profits. Which pricing strategy is the management using?
Elucidate why general level of wages in the united states and other industrially advanced countries. What is the single most important factor underlying the long-run increase in average real-wage rates in the united states
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