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Assume that a profit maximizing monopolist faces an inverse demand function give by p(.), where p'(y),0, and a total cost function given by c(y), where c'(y)>0. Suppose the government wishes to combat the undesirable allocational effects of a monopoly through the use of a subsidy.
a)Set up the monopolists profit maximization problem and derive the FONC in the presence of the per unit subsidy on output.
b)Show the competitive output inducing subsidy can be written as s=p(y_c)-MR(y_c)... (note** y_c is the same as saying the output of a competitive industry).
On a diagram, draw the marginal cost curves for the two factories, the average and marginal revenue curves, and the total marginal cost curve (i.e., the marginal cost of producing Q = Q1 + Q2)" Indicate the profit-maximizing output for each factory, ..
Clear Limited produces Plasma TV and distributes to retailers under her own house brand. Recent trend in market seems to favour adoption of TV using either LED technology.
How does your consumption of the two goods change? How does your response depend on income and substitution effects? Can you afford the bundle of soda and pizza you consumed before the price changes?
Suppose there are nine sellers and nine buyers, each willing to buy or sell one unit of a good, with values ($60, $50, $45, $40, $35, $30, $25, $20, $15). Suppose there is a single market maker in this market. What is the optimal bid-ask spread?
What is the current unemployment rate (hint: the update on the unemployment rate is usually released the first friday of each month) Do you think this unemployment rate is generally considered to be above, below or equal to NAIRU
Write a 4-6 page (12-point font, double-spaced) essay evaluating the role of governments in assuring that developing countries obtain a fair and adequate share of the benefits of international trade.
Describe why alternative efficient allocations may have different total levels, and different distributions, of wealth.
Insurance companies must provide insurance to drivers who may take risks that go unreported because they don't wreck or get ticketed (or if they do wreck or get ticketed, it goes unreported to the insurance company).
Calculate the following for Brian and Kim's firm
Draw a supply-and-demand diagram to explain the effect of a negative externality that occurs as a result of a firm's production process. Define and give an example of a public good.
What will be the profit maximizing prices and the firm's profit, if the proposal of the marketing manager is accepted and calculate the profit maximizing price of the full package? What is the firm's profit in this case
1.question why does a business need to understand elasticity of demand?2. the schedule below is for beer pricequantity
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