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Important information about profit maximizing quantity
A monopolist has a constant marginal and average cost of $10 and faces a demand curve of Qd=1000-10P. Marginal revenue is given by MR=100-1/5Q. Calculate the monopolist's profit maximizing quantity, price, and profit.
Define in general the term "internalize the externality" and explain its application in this case. Discuss a policy other than a tax or subidy that could cause individuals to internalize the externality. Explain briefly.
Utilizing the supply and demand model, explain what would happen to the supply curve during a drought. Also explain the affect on the price of water.
Provide each of the subsiquent price elasticities, determine whether marginal revenue is positive, negative, or zero.
How might there be increase in total spending on a child's education in response to providing a fixed level of education?
Illustrate each of the following events using a demand and supply diagram for bananas.
Keynesian thinking dominated US (and other developed-country) policy-making well into the 1970s, although the "classical" counter-arguments kept up a steady criticism:
Elucidate how might raise the chance that the employee would retire earlier as compared with the situation where the employee had to pay for his own health insurance.
A firm is using 20 units of labour and 30 units of capital to produce 4,000 units of output. At this combination the marginal product of labour is 50 and the marginal product of capital is 40.
Exchange and markets, Demand supply and market equilibrium
These costs are depends on a budgeted volume of 80000 units developed and sold every year. Lafluer uses cost-plus pricing methods to set its target selling price.
In 1991, Brazil and Columbia united to form a coffee cartel and reduce coffee output. Suppose total costs for the cartel are:
Illustrate the similar price elasticity of supply, sellers would be able to pass along the smalles portion of a 10%tax on which item.
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