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Consider a firm which is a monopolist in the output market and monopsonist in the factor market. The monopolist's production function is y = f(x) = x/2 where x denotes the quantity of the factor and y denotes the quantity of the output. The inverse demand function for the monopolist's output is p(y) = 210 - 3y and the inverse factor supply function is w(x) = 10 + 4x. a) Find the quantity of output to maximize the firm's profit. What quantity of the factor does the firm use, what price of the output does it charge, and what price does it pay for the factor? b) Find the values of p, w, x, and y that correspond to the competitive equilibrium
a machine is purchased for 150000. revenue for the first year was 50000. over the total estimated life of 8 years
the average cost per seat on the 50-passenger floating on air bus companys trip from kansas city to st. louis on which
Use technology and information resources to research economic problems and issues and write clearly and concisely about economic problems and issues using proper writing mechanics.
Name any good or service which has a noticeable recent price change. Using concepts of supply and/or demand, what are some possible explanations for this change in price?
1. suppose that the linear market supply curve starts on the price axis at 8 per box and that the linear market demand
labor is the important factor of production for all firms. the most recent unemployment rate is estimated at 7.7
proper health and nutrition is of critical importance to the growth and development of young children yet many american
The equilibrium price for physiotherapy visits is $30 and the quantity utilized is 150 visits as a result of the demand and supply conditions in this diagram.
compare and contrast perfect competition and monopolistic competition. your response should be 100-200 words. write a
Public administration can't exist outside of its political context. Describe how politics affects the policy making process and the delivery of governmental services.
Many stocks and alternatives awarded or charged to CEOs are not indexed to either industry average or to market-wide averages
Which of the following statements is correct? Marginal revenue equals $3, Average revenue equals $600, Average revenue exceeds marginal revenue, but we don%u2019t know by how much.
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