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Consider a monopoly which faces the demand curve P= 55-2Q and having a marginal cost function MC= 2Q-5
a) Calculate the marginal revenue (MR) function.
b) State the profit maximizing output rule for the monopoly in the short-run.
c) What is the profit maximizing output level? Next, calculate the price of the monopoly
What is the affordable care act and how does it affect the US and its current insurance policies?
Suppose the economy's production function is Y = A(300N – N^2). The marginal product of labor is MPN = A(300 - 2N). Suppose that A = 10. The supply of labor is NS = 0.05w + 0.005G. If G is 26,000, what are the real wage, employment, and output?
a. Calculate the actual unemployment rate and the natural rate of unemployment for this economy.
Suppose the government increases both taxes and government purchases by $10,000. Assuming that the marginal propensity to consume is 0.75, calculate the change in private saving, government saving, and total saving. Then draw a graph of the loan able..
As you shop for your favourite clothing, music, and food items try to describe how supply and demand influences the prices of these goods?
Carefully explain the resulting movements in an economy if the current situation in the economy (interest rate, level of output) can be characterized as on IS curve but not on the LM curve. On the LM curve but not on the IS curve. Off of both the IS ..
When tuition (P) is $500 per credit hour, enrolment (Q) is 1000 student. When tuition is 400, Enrolment is 1300 student: Calculate the elasticity and tell whether it is elastic or not. To increase revenue, should tuition be increased or decreased?
The fact that millions of jobs are created and destroyed every year is a sign of. Who would be hurt by unanticipated inflation? If the Consumer Price Index was 110 in one year and 117 in the next year, then the rate of inflation from one year to the ..
Find the subgame perfect equilibria of the variant of the game in which the post-entry competition is a game in which each firm chooses a price, rather than an output.
A bottling company uses two inputs to produce bottles of the soft drink Sludge: bottling machines, K, and workers, L. The isoquants have the usual smooth shape (bowed towards the point of origin). The machine costs $1,000 per day to run and the worke..
Recall from Exercise Ul the population of animals fighting over a food source worth 200 calories. Assume that, as in part (b) of that exercise, the cost of a fight is 150 calories per fighter. Assume also that a third phenotype exists in the populati..
Plot the demand and supply schedule for clothe and determine the equilibrium price and quantity for cloth in the US in the absence of [international] trade.
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