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Suppose a monopolist faces the following demand curve:
P = 140 - 6Q. Marginal cost of production is constant and equal to $20, and there are no fixed costs.
a) What is the monopolist's profit maximizing level of output?b) What price will the profit maximizing monopolist charge?c) How much profit will the monopolist make if she maximizes her profit?d) What is the value of consumer surplus?e) What is the value of the deadweight loss created by this monopoly?
Industry structure is often measured by computing the Four Firm Concentration Ratio. Assume you have an industry with 20 companies and the CR IS 30 percent.
the general price inflation in our economy, the purchasing power of the dollar shrinks with the passage of time. If the average general inflation rate is expected to be 7% per year for the foreseeable future, how many years will it take for the do..
The MacBurger Company, a chain of fast food restaurants, expects to earn $200 million after taxes for the current year. The company has a policy of paying out half of its net after tax income to the holders of the company's 100 million shares of c..
The director of a nonprofit foundation that sponsors 8-week summer institutes for graduate students analyzed the costs and expected revenues for the next summer institute and recommended that the session be canceled. In her analysis she included a..
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..
Total Total Average Fixed Variable Total Total Marginal Quantity Cost Cost Cost Cost Cost 0 $40 0 40 X X 1 40 55 95 95 55 2 40 75 115 57.50 20 3 40 90 130 43.33 15 4 40 110 150 37.50 20 5 40 135 175 35 25 6 40 170 210 35 357 40 220 260 37.14 50 8 40 ..
a nation's rate in 2003 was 5%. It accumulated capital at a rate of 5% and added to its employment of labor at a rate of 5%. The proportionate increase in real GDP in response to a proportionate increase in capital was 0.2, and the proportionate r..
The joint probability distribution on the returns of two securities X and Y is demonstrate in the table below.
Explain why we are using per capita data for food rather than the total value as the dependent variable and examine the residuals of your estimated equation to determine whether any of your years might be considered an outlier in the regression.
Chez Henri is a restaurant chain that operates in forty different cities. It employed an economist to determine the factors affecting the demand for its sales.
The Zenvox TV Company faces a demand function for its products that can be expressed as Q = 4,000 - P + 0.5i, where Q is the number of tv's, P is the price per tv, and i is the average monthly income. Average monthly income is currently equal to $..
Suppose a monopolist faces the following demand curve: P = 596 - 6Q. Marginal cost of production is constant and equal to $20, and there are no fixed costs. a) What is the monopolist's profit-maximizing level of output? MR = (P-MC)*Q MR = (596 - 6Q -..
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