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Consider a market with inverse demand P(Q) = a -bQ. Assume there is a monopoly firm with cost function C(q) = cq2 .
(a) Find the optimal monopoly output and price.
(b) Compute the optimal profit for the firm.
(c) Calculate the optimal social welfare.
A cost-effective policy is always socially efficient. Enforcement costs are critical to the success of environmental program and should be included in the overall social costs of the program when evaluating different policy options
Statistics show China has a huge savings rate and huge trade surpluses. In contrast, the U.S. has very small savings rates and very large trade deficits. What national income accounting can explain this? Discuss and reference equations and/or the cir..
A monopolist produces a product which has high investment cost. The marginal cost of the product is very small ( negligible ). The monopolist has a patent for the product. how in a chart the price of goods that would arise if the company is unregulat..
Evaluate the statement: “The only time that a change in resource allocation clearly increases social welfare is when the change represents a “win-win” situation.”
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In early 1990s with a second wave of low-cost carriers (LCCs), which led to the second period of strong traffic growth from early 1993 through early 2000, Southwest Airlines arguably provided the blueprint for U.S. Between 2006 and 2009 a fuel crisis..
Explain how low must a quota be in effect to have an impact. Using a demand-and-supply diagram, illustrate and explain the net welfare loss from imposing such a quota.
Between 2013 and 2014 in a particular nation, the value of the consumer price index—for which the base year is 2010—rose by 9.091 percent, to a value of 120 in 2014. What was the value of the price index in 2013?
Suppose that initially the economy is in a long-run equilibrium with no money growth, no inflation, and πe = 0%. Then, the central bank announces that, starting in the next period (t+1), the money supply will begin growing at 10%/period. What happens..
What features of the product cycle theory are at variance with the assumptions of the Heckscher-Ohlin model? How might the imitation lag hypothesis be incorporated into the product cycle theory?
You are considering a stock investment in one of two firms (NoEquity, Inc., and NoDebt, Inc.), both of which operate in the same industry and have identical operating income of $27.5 million. NoEquity, Inc., finances its $50 million in assets with $4..
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