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You are the manager of a monopoly, and your demand and cost functions are given by P= 200 - 2Q and C(Q)= 2000 + 3Q^2, respectively.
a. what price-quantity combination maximizes your frm's profits?
b. calculate the maximum profits.
c. is demand elastic, inelastic, or unit elastic at the profit-maximizing price-quantity combination?
d. what price-quantity combination maximizes revenue?
e. calculate the maximum revenues.
f. is demand elastic, inelastic, or unit elastic at the revenue-maximizing price-quantity combination?
Government increases taxes by 50 billion and increase transfer payments by 50 billion illustrate what would happen to aggregate demand.
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She tells her friend that the additional utility she would get from the second pair of sneakers is the same as the additional utility she would get from the fifth sweater.
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Explain why did they have differing views on socialism, with Marx being optimistic and Weber being pessimistic.
Converse briefly its relationship to microeconomics also other related fields of study such as finance, marketplace also statistics.
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