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Monopolies can sometimes find themselves in difficult financial situations that lead to losses. Suppose Mr. Burns' power company has a monopoly for providing electricity in Springfield. His costs of upkeep are so high that he is persistently losing money. Show this outcome in a completely labeled graph. Clearly identify all parts of your graph including the best price and output for the firm as well as the losses.
Now, answer the following:
What happens to the market when Mr. Burns raises the price he charges?
Will this stop his losses? Why or why not?
what is an externality? provide examples. how does an externality affect the market outcome? is it possible for a
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Two factories together have marginal abatement cost equal to MACT = 750 - 6eT, where e1 + e2 = eT. The undesirable pollutant imposes a cost on the residents of society and this is given by the marginal damage cost MD= 4eT.
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According to studies undertaken by the US Department of Agriculture, the price elasticity of demand for cigarettes is between - 0.3 and - 0.4 and the income elasticity is about + 0.5.
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Present a plan for monitoring carbon monoxide in a city
Think of another good that you have purchased recently (or you could continue with the good you selected in TDA I). Be specific (e.g. is it breakfast cereal in general or Cheerios cereal specifically). If the price of this item increases, how woul..
evaluate each of the following proposals to address global warming. consider for each the equity issues whether the
1. will increases in government spending financed by borrowing help promote a strong recovery from a severe recession.
a balance of trade trade balance is the difference between the monetary values of exports and imports of a countrys
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