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Question: Suppose a monopoly firm faces the following demand function: p = 200 - 2Q. The monopoly has a constant marginal cost of $40 and a fixed cost of $1000. Answer the following questions:
a. Calculate the monopoly firm's maximum profit.
b. Calculate the size of the monopoly deadweight loss.
c. Suppose the firm is considering investing in R&D that, if successful, has 10% chance of reducing marginal cost to $20 and 40% chance of reducing marginal cost to $30. The R&D spending is considered to be a one-time fixed investment. Find the maximum amount of R&D spending the firm is willing to commit given the probabilities of success and the results of the process innovation.
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A utility-maximising consumer changes their spending for goods X and Y so that:
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Develop a Java application that inputs the salesperson's gross sales for that item for last week and calculates and displays that salesperson's earnings. There is no limit to the number of items sold. After the loop is done, print out the aggregat..
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