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Suppose that the costs for a monopolist are given by C(Q) = 11 4 Q2+Q+476.68. Further suppose that the inverse demand function is given by P = 1 4 determine: (Q-28)2. Using calculus (a) Determine the profit maximizing quantity and price. (b) How much profit does the monopolist earn? (c) What is the social welfare maximizing quantity? ) (d) What is the magnitude of deadweight loss caused by the monopolist? (
assume the following data describe the gasoline market price per gallon 2.00 2.25 2.50 2.75 3.00 3.25 3.50 quantity
Briefly explain the meaning of MRTS for this production function and what is elasticity of substitution when the capital-labour ratio changes from 1/10 to 1/30?
An individual's annual income is $100,000. The person is considering opening their own business. Expected revenues for the business, if they open it, are 2 million the first year.
Select an organization you work for or are familiar with. Could the organization you have chosen lower prices to increase revenue?
Suppose the demand and cost function for a monopolistically competitive firm are given by: Q=36-4Q,C(Q)=124-16Q+Q^2. Determine the profit maximizing price and level of output. Calculate the firm’s maximum profits.
Reserve requirement for banks is set at 5 percent. Your firm deposits its profits of $28,000 into the Third National Bank. How much excess reserve does your deposit generate for the bank? What is the Federal Funds Rate in the banking system? Describe..
Suppose your supervisor has been asked many questions about how economy works and why the idea of limited resources is such a major concern in today's economy.
The effect of a trading partner who imposes a binding import quota on the good the home country is export subsidizing? Who are the winners and losers under these circumstances?
In the long run, the Martha Mowers can assemble 300 mowers per week at a total cost of $18,000, 400 mowers at a total cost of $24,000, or 500 mowers at a cost of $35,000.Plot points of the long-run average cost curve for these three levels of outp..
Candi has just purchased a car for $7,500. She expects that the value of this car will decline by 13% each year. Eventually Candi wants to sell this car for $2,000 and buy a new one. How many years should Chandi use this car before she can sell it?
Should we treat capital investments differently or all the same? More specifically should we encourage certain types of capital investments? Why? What are some of the ramifications of our decisions?
What are the benefits of the staggered movie times allowed by multiple screens? What is the benefit to a multiscreen theater of locating at a shopping mall?
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