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A cable company has a monopoly over the cable services industry in Rhode Island. The market demand curve for cable is P = 1000 - Q, where Q, the firms output, is here the number of hundreds of households with cable. The cost of supplying Y hundred households with cable is TC(Q ) = 500 - 50Q + 2Q*Q. MR=1000-2Q and MC=4Q-50.
a. Find the level or output.b. What is price in equilibrium?c. What is the DWL due to the monopolist?
The sales information for the Lonestar Sports Apparel Corporation for the last 12 years as follows:
The demand function for bicycles in Mapleville is estimated to be Qd = 2,500 + 10Y - 6 P Where Y denotes income in thousands, Qd is the quantity demanded in units, and P is the price of bicycles. When P = $120, Y = 12 What is the price elasticity o..
what uniform price will he charge and how much profit will he earn. The following figure shows the demand and marginal revenue for a monopolist, who has many buyers with different valuations of the good.
On the same graph, draw the daily budget constraint under AFDC for the single parent. According to AFDC, the family was given an income subsidy depending on family size and the family's benefit was reduced by $1 for every dollar earned. Suppose th..
To get an idea of how much those government rebate checks have spurred spending-and who's benefiting from the buying-business school professors Jonathan Parker (Northwes t ern) and Christian Broda (University of Chicago) analyzed the spending of 3..
Its total cost of production is given by TC = 800 + 18 Q + 2 Q2, and thus its marginal cost is MC = 18 + 4 Q. The market price is currently P = $54. In the short run, what is the volume of output that maximizes Commodity Inc.'s profits.
Joe Sabia, an assistant professor of public policy at American University in Washington, D.C., says that a 10 percent increase in minimum wage reduces retail employment by 1 percent and reduces employment among young workers by 3.4 percent.
Newton exports all their products outside the city and Garfield only sells their products within the city. Newton experiences growth, so it hires 100 more workers, all of whom come to reside in city A. Because of this, Garfield - at the first stag..
Twin cities in order to study health care costs for a client. One of the items being tracked is the annual deductible that employees must pay. The Minnesota Department of Labor reports the mean of this distribution is $502 with a standard deviatio..
A California asparagus farmer is maximizing profit. The price of asparagus is $2 a box, a farm worker's wage rate is $12 an hour, and the asparagus farm employs six workers. If, when the price of asparagus increases to $3 a box,the farm hires eigh..
Multicollinearity refers to existence of correlation among the independent variables in a multiple regression model. Explain how multicollinearity can impact your regression analysis.
A machine has an initial cost of $500,000, and was estimated to have a salvage value of $30,000 at the end of its 7 years useful life. The machine is expected to generate annual net savings of $125,000. A loan of $200,000 at 7% interest will help ..
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