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Consider a monopolist where the market demand curve for the produce is given by P = 520 – 2Q. This monopolist has marginal costs that can be expressed as MC = 100 + 2Q and total costs that can be expressed as TC = 100Q + Q2 + 50.
a. Given the above information, what is this monopolist’s profit maximizing price and output if it charges a single price?
b. Given the above information, calculate this single price monopolist’s profit.
c. At the profit maximizing quantity, what is this monopolist’s average total cost of production (ATC)?
d. At the profit maximizing quantity, what is the profit per unit for this single price monopolist?
The budget deficit is of tremendous concern and all law makers agree that some measures should be taken to reduce it. However, The Republicans see the issue as a spending problem, while the Democrats see it as a revenue problem.
Lenders and borrowers are all so nervous that the huge planned increase in the money supply ,refrred to as 'quantitative easing' , may have much smaller stimulating effect than it would have in normal circumstances.This strategy is not without ris..
Since a monopoly is the only source of supply, customers are entirely at its mercy. There is no limit to the price the monopoly can charge.
"Oligopolies have a negative impact on income distribution." Do you agree or disagree? Provide justification for our response.
Write a One Page write up with single space about the difference between Non-Cooperative and Coordination Games. What is the benefit of coordination between players.Stick to the outcome, not to the definition.
You are the manager of a firm that receives revenues of $40,000 per year from product X and $70,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross-price elasticity of demand between product Y and X..
Calculate the market demand for strawberries and plot it on a graph. On the same graph plot the supply function using the data in column A. What are the equilibrium price and equilibrium quantity?
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Write down any set of numbers. Calculate thier mean, and then the average deviation from the mean. c) Prov that, for every possible sample of n observations, the average deviation from the mean is exactly zero. Is this also true for deviations fro..
What price and quantity will monopolist produce at if the marginal cost is constant $4.00? Compute the deadweight loss from having the monopolist produce, rather than the perfect competitor.
Determie what geopolitical events helped shape John Maynard Keynes theories and how did they shape the future of economic policy in the United States and other Western nations?
Suppose the Fed responds quickly to these shocks and adjusts monetary policy to keep unemployment and output at their natural rate. What action would it take On the same set of graphs from part (a), show the results. Label the new equilibrium as p..
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