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Assume that you are an industry consultant. You are called in to consult on two different international analyses. For each of the scenarios below, show all your calculations very carefully!
Scenario 1
Begin your analysis by finding a benchmark socially efficient level of output. Then compare the competitive industry level of output with the monopolistic level of output. Show all your calculations. The industry is in Kenya. Your initial assessment shows that the general inverse demand function for the market is P = 400-8Q. Further analysis has indicated that the external marginal cost is 7Q. The internal marginal cost is twice the external cost.
Scenario 2
Begin your analysis by finding a benchmark socially efficient price and level of output. Then calculate the monopolistic price and level of output. Finally calculate the threshold dollar amount that the monopolist should budget for lobbying to bar price regulation to take prices to the socially optimal level. Show all your calculations. The industry is in Bangladesh. It is a monopolistic industry. Your initial assessment shows that the general inverse demand function is P = 80-4Q. Further analysis has indicated that the cost function is C(Q) = 16Q.
Create a supply and demand graph and identify areas of customer’s surplus and producer surplus. Given the demand curve, determine what impact will an risee in supply have on amount of customer surplus shown in your diagram?
Ruby's Beauty College of Grand Forks, Nebraska, is one of many local beauty colleges each specializing in different haircutting techniques. Rubys Beauty College would become considered:
If you are the chief economist of a country experiencing high unemployment and flat GDP, what macroeconomic policies might you enact in response to these economic conditions? How would you expect these policy changes to impact the economy?
It is often suggested that giving the president a line-item veto would be a good way to make government work more eciently, as then he would not have to veto entire bills just because he felt one provision of the bill would make a bad law.
Suppose you were having lunch withyour best friend who just enrolled in an economics class. He was complaining about how irrelevant the class was, commenting that he saw no useful purpose for economics.
Suppose the Indiana Power Company wishes to maximize profits. The cost, demand and revenue functions have been determined and given below. Determine Indiana Power's profit maximizing price, output and level of profits. Q = output level, P = Pri..
Discussion Board also identify one decision that JTI managers must make in each of the six value chain functions for this product.
1. In ________ marketing, the firm operates in several market segments and designs different products for each segment.
Your company is considering a price reduction on a product which currently sells for the price of $5.00.The price elasticity for the product is roughly equal to -2.3 over the range being considered for the price change.
Calculate GDP and the country's gross national expenditure using the expenditure approach and derive the country's gross national product (GNP)
When measuring the GDP for a particular year, why do economist include only final goods? Why don't they include the value of stocks and bonds sold?
In the market for fertilizer, the equilibrium price is $4 per pound, and the equilibrium quantity is 500. At that point, the price elasticity of demand is 2.3, and the price elasticity of supply is 3.4. If a $1 excise tax is imposed in this market..
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