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A pure monopolist determines that at the current level of output the marginal cost of production is $2, average variable costs are $2.75, and average total costs are $2.95. The marginal revenue is $2.75. What would you recommend that the monopolist do to maximize profits? b.) Why might a business owner keep their business open but let it deteriorate, rather than shut it down? Will this profitability last?
A pure monopolist determines that at the current level of output the marginal cost of production is $2, average variable costs are $2.75, and average total costs are $2.95. The marginal revenue is $2.75. What would you recommend that the monopolist do to maximize profits?
b.) Why might a business owner keep their business open but let it deteriorate, rather than shut it down? Will this profitability last?
What happens to the indifference curves when a household's income is reduced and how does a budget constraint explain consumer choices when used in conjunction with indifference curves?
Traditionally, how have estimated labour supply elasticities differed between men and women? How can economic theory explain this? Outline the relevant empirical evidence from the more recent literature? No more than 1200 words.
1) If the desired level of investment spending (I) is greater than the level of national savings (S), are net exports (NX) positive, negative, or zero? Explain the connection between I, S, and NX (in words as well as mathematically).
The basic economic argument for greater income equality is that: an equal distribution of income is the logical outcome of any tax-transfer program. because citizens enjoy political equality, they are also entitled to economic equality.
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For this week, we are continuing our discussion on GDP and economic growth. We will realize that most of government spending goes towards welfare such as social security. However, it is a common belief that social security benefits
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ome workers in the economy are paid a flat salary and some are paid by commission. Which of compensation scheme would require more monitoring by supervisors In which case do firms have an incentive to pay more than the equilibrium level
Applied Technology, Inc. (ATI) produces bicycle frames using two fiberglass materials that improve the strength-to-weight ratio of the frames. The cost of the standard grade material is $7.50 per yard and the cost of the professional grade mat..
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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