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1. Show that a monopolist with one product at the left end point would find it profit maximizing to serve the entire market when transportation costs are quadratic in the linear city if V ≥ 3k.
2. Suppose that consumers are uniformly distributed on the unit interval and that the only locations where a firm can locate are at the end points. Suppose further that transportation costs are quadratic and V ≥ 3k. As usual assume that ( p - c) = 1 and the total number of consumers has been normalized to one. Show that for 3k/4 > f > k/4 a monopolist would provide products at both end points but the efficient solution is for a single product. Explain why the monopolist has excessive incentives to introduce the second product.
Define the Social Planner Problem. Solve the Social Planner Problem. This is, find the Euler equation in terms of exogenous variables and the only endogenous variable k2. Define the tax distorted competitive equilibrium of this economy. Solve the rep..
In response to the Great Recession a number of European governments adopted austerity policies which cut government spending on goods and services. Assuming no change in autonomous consumption or in autonomous investment, explain whether such an aust..
If the price elasticity of demand for a product is -5, and the income elasticity of demand for the product is 2.5. If a 0.5% decrease in product price as accompanied by a 1% decrease in consumer income, the firm's total sales will
If you were the angel investor, what is your certainty equivalent for these two projects? Are you risk averse, risk-neutral, or risk-lover.
What happens if the FOMC members DISAGREE on what to do with Monetary Policy? How is a compromise or resolution reached?
A Wartburg engineering student has been out of school and working for a few years when they decide to buy a house that costs $233,000. They intend to pay a down payment of 20% and finance the rest at 5.75% per year compounded monthly on a 30-year mor..
A woman wishes to make a uniform deposit every three months to her savings account so that at the end of 10 years she will have $10,000 in the account. If the account earns 6% annual interest, compounded quarterly how much should she deposit each thr..
To derive the uncovered interest parity (UIP) condition we assume, among other things, that there is free movement of capital across countries. Is there a variant of the UIP that we can expect to hold (given the other assumptions) under such asymmetr..
Calculate equilibrium quantity. Now suppose that the government imposes a tax on consumers of $1 per unit. Recalculate the prices for consumers and producers, and the quantity sold.
q.bud owen operates buds package store in a small college town. bud sells six packs for off-premises consumption. bud
A manufacture procedure using 2 inputs, labor as well as capital.
Elucidate how a bartender would know that the price of an exotic drink was too low or too high. Provide adequate conceptual justifications.
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