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A monopolist's profit-maximizing quantity of its product is 10 units. The economically efficient quantity supplied of the product is 14 units. Consumers' valuations of the 11th, 12th, 13th and 14th units of the product are. respectively, $20, $17, $14 and $11. The monopolist's marginal cost of production is constant at $11 per product unit. What is the size of the deadweight loss caused by the monopolist choosing to supply 10 units of its product?
The two economies are so far apart that they don't share ideas and each evolves as a separate roomer economy.
Suppose me also my roommate started a bagel delivery service on campus. List some of our fixed costs also express why they are fixed.
If he estimates that the industry supply function for computers in the town is P = 700 + .5Q, explain how many computers will be sold at equilibrium and at what price would the producers be selling.
What is the probability (±0.001) that the next customer pays at least $30? What percent of customers who pay at least $30 pump premium? % (Round your answer to the nearest whole number.)
Use supply and demand model to explain the dramatic rise in the price of a college education.
Describe how McDonald's and Wal-Mart elucidate changes in the macroenvironment affect individual firms and industries through the microeconomic factors of demand.
Compute the MRS of other goods for airline miles; i.e., the MRS that represents the slope of the indifference curves when x1 is on the horizontal and x2 is on the vertical axis.
Compare and contrast the possible consequences for an economy of inflation and deflation.
Illustrate what is the individual's optimal consumption in each period. Explain how much saving does he or she do in the first period.
Elucidate how the investor's curves would appear if she adopts the 50:50 strategies but would not accept any additional return.
Can citizens who speak an official language or than majority language receive official personal documents in that language. What arrangements have been made in this respect.
Explain how you might use this survey data to predict the difference in the probability of marijuana use between married and single people.
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