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Suppose a monopolist faces the following demand curve: P = 90 - 2Q. Marginal cost of production is constant and equal to $10, 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?
Assume that a national restaurant firm called BBQ builds 20 new restaurants at a cost of $1 million per restaurant. It outfits each restaurant with an additional $300,000 of equipment and furnishings
The coefficient of determination for a regression relationship defined through Y = a + bX is 81 percent.
The short run optimal cost of Ohio Bag Company is 2Q. Price is $100. The company operates in a competitive industry. Currently, the company is producing 40 units per period. What is the optimal short run output.
The first provides foundation and structural details so that two additional stories can be added to the required initial two stories at a later date and without modifications to the original structure. by what time would the additional two stories ..
A business requires an initial investment of $800000 and annual operating cost of $100000. It generates an annual income of $500000 and a salvage value of $500000 after 4 years . At MARR = 10% and an effective tax rate of 30%, evaluate this invest..
In a local market, the monthly price of internet access service decreases from $30 to $20, and the total quantity of monthly accounts across all internet access providers increases from 90,000 to 190,000.
Given the following information, calculate the income elasticity of demand using the midpoint formula. a. Nancy's income increases from $20,000 to $30,000 and her consumption of spaghetti changes from 10 pounds per month to 2 pounds per month.
Flintstones, Inc., markets a small solid cylinder of a spark-producing alloy used to ignite the fuel in residential furnaces. Currently, the company's products are sold to other manufacturers who then incorporate it in their merchandise. The yearl..
It can be shown that the marginal return to schooling investments is MW(s) = k0 = ps. What condition governs the optimal choice of education, s*? If r= 5% and ifk 0 = 5.25, what is the optimal schooling level? Suppose that the wage-schooling sc..
Wyandotte Chemical Company sells various chemicals to the automobile industry. Wyandotte currently sells 30,000 gallons of polyol per year at an average price of $15 per gallon. Fixed costs of manufacturing polyol are $90,000 per year and total va..
consider the following short-run production function ( where L= variable input, Q = output): Q = 10L - 0.5L(squared) suppose that output can be sold for $10 per unit. also assume that the firm can obtain as much of the variable input (L) as it nee..
Suppose that the most popular car dealer in your area sells 10 percent of all vehicles. If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car deal..
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