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Suppose a monopolist faces a market demand given by the inverse demand function p = 10-q; and a total cost C(q) = 2q.
1.) what is the monopolist's optimal price and quantity? What is the total social surplus?
2.) Suppose the government subsidizes the monopolist by paying him 2 for every unit that the monopolist produces and sells. What pirce would be offered in the market? What would be the total social surplus?
3.) Consider another policy where the government could impose a price ceiling p on the monopolist. If the government were interested in maximizing social surplus, what would be the optimal value of p when considered from the point of view of the government? What would be hte total social surplus?
List the four major areas (audience analysis; objectives and budget; issues; and research) and explain how an organization designs a program around these four influences.
Based upon marginal revenue or marginal cost analysis, explain how output and price are determined in monopolistically competitive markets.
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Explain what he has done wrong on each graph and what assumption of preferences is violated by each particular graph.
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A television station is planning the sale of promotional DVDs. It can have DVDs manufactured by one of two suppliers. Supplier A will charge the station a set-up fees of $1,200 plus $2 for each DVD.
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