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Suppose that a monopolist's market demand is given by P = 100 - 2Q and that marginal cost is given by MC = Q/2.
a) Calculate the profit-maximizing monopoly price and quantity.
b) Calculate the price and quantity that arise under perfect competition with a supply curve P = Q/2.
c) Compare consumer and producer surplus under monopoly versus marginal cost pricing. What is the deadweight loss due to monopoly?
d) Suppose market demand is given by P = 180 - 4Q. What is the deadweight loss due to monopoly now? Explain why this deadweight loss differs from that in part (c)
A monopolist faces demand given by: P = 100 - 0.4Qd, and has marginal costs given by MC = 10 + 0.2Q a. draw the demand, marginal revenue and marginal cost curves. Calculate and show how much this firm will sell and what they will charge.
What discriminatory price does the monopolist set in market 2? Calculate the socially efficient level of widget sales in the US and in Europe. Calculate the monopolist's marginal cost.
(Changes in Government Purchases) Assume that government purchases decrease by $10 billion, with other factors held constant. Calculate the change in the level of real GDP demanded for each of the following values of the MPC. Then, calculate the c..
Assume that the market equilibrium rent for two-bedroom apartments in Santa Monica, California is $1500 per month and the quantity is 40,000 units. The city council of Santa Monica establishes a rent control of $1200 per month on two-bedroom apart..
Calculate the four-firm and six-firm concentration ratios for the computer industry. Calculate the HHI for the industry. Suppose that Appel Computer and Banana Computer were to merge with no change in the sales of any of the different computers. C..
Calculate the opportunity cost of producing olive oil and pasta in both Greece and in Italy.
When the price of oranges increases from $1.00 per pound to $1.50 per pound, quantity demanded falls from 500 pounds to 400 pounds. Calculate the price elasticity of demand. Is the demand for oranges price elastic, inelastic, or unit elastic.
suppose that, during the past year, the price of a laptop computer rose from $2,300 to $2,700 per laptop. During the same time period, consumer sales decreased from 600,000 to 500,000 laptops. Calculate the elasticity of demand between these two p..
Suppose that each firm that tries to produce autos must go through the shakedown period of high costs on its own. Under what circumstances would the existence of the initial high costs justify infant industry protection?
You wish to borrow $100,000 for 10 years at 5.0 percent annual interest. What is the difference in the cost of the loan if it is compounded yearly, monthly, or daily?
Calculate the total price paid by consumers and the total price received and kept by producers after a tax of .30 per gallon is levied on consumers. What is the tax burden on producers and on consumers
Analysts at the Fleetfeet Corporation estimate a demand function for its athletic shoe line to be: Qf = 5 - 2.4*Pf + 0.7*A + 0.002*I + 0.8*Ps Where Qf = the quantity of shoes sold, Pf = the own price of shoes produced by Fleetfeet ($/pair)
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