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Assume that the government imposes a lump-sum tax on a monopoly, what will happen to the output and market price?
What will happen the Company's profits?
Assume the following data describe the gasoline market: Price per gallon $2.00 2.25 2.50 2.75 3.00 3.25 3.50 Quantity Demanded 32 30 29 28 22 21 20 Quantity Supplied 16 20 24 28 32 36 40 (a) What is the equilibrium price?
Discuss the relationship existing between production and cost. What is the MC function of the above TC function?
The inverse demand function for natural gas in Altoona is P(q) = 11 - Q. The Altoona market has a single natural monopoly producer with a total cost function of C(Q) = 5Q - 0.005Q2.The public utilities commission is thi..
Raj's Utility bundles of X and Y is given by U(X,Y)=XY A. Fill in the table with Raj's utility for the corresponding bundles x=1 x=2 x=3, y=1 y=2 y=3 B. Write a formula for Raj's indifference curves. Draw one such curve.
State whether you agree or disagree with the following statement and explain why: a. When the real economy expands (Y rises), the demand for money expands. As a result households hold more cash and the supply of money expands. b) Inflation a rise i..
In some ways monitoring is easier in a partnership than a corporation, where shareholders monitor directors. In what ways is monitoring easier? In what ways is it not?
Political Economy GV307 : Consider the model of “no theft” where the consumer pays the official government price plus a bribe in order to obtain X. Assume that the official marginal revenue for selling the good in this context is given.
During the country's current economic malaise, along with that of our local economy, what can individuals and businesses do to help get by financially, get a job, or promote economic activity?
How much excess reserves does the bank hold and how much more can this bank lend - What is the required reserve ratio?
Explain and illustrate how each of these events would affect aggregate demand, aggregate supply, and prices, then explain how you would respond with economic policies. Please show illustrations showing the movement of the AS and AD curves.
Why is an oligopolist more likely to be able to earn a profit in the long run compared to a monopolistic competitive firm Describe the Diamond-Water paradox and the solution Explain why price is greater than marginal revenue for a single-price
Using the equation in (c) show that if the capital/labor ratio K/L is a constant k, the elasticity of output with respect to labor is b + c. (e) Why are relationships expressed like those in (c) important for doing econometrics? (f) Show that the ..
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