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A one-price monopolist faces a demand of P = 107 – 0.015Q and has a total cost function C(Q) = 5000ln(Q) + 30Q.
a) Calculate the profit of the monopolist
b) Prove that regulating the monopoly to produce with no deadweight loss will drive them out of business. Use elements from the calculations here to find the deadweight loss with a monopoly
c) Draw a picture as part of an explanation why the regulator may choose a price ≈ 39.33. Find the new DWL at this level of production.
Think about the pricing methods--markup pricing, target-return pricing, perceived-value pricing, value pricing, going-rate pricing, and auction-type pricing. As a consumer, which do you prefer to deal with? Why? If the average price were to stay the ..
What is the relationship between GPA and Job Selection? (inverse or direct) What are other factors that affect job selection?
Suppose that the pre-tax price of cigarettes is $3.00 per pack and the post-tax price of cigarettes is $4.00 per pack. The tax is $1.50 per pack and is paid by the retailers of cigarettes to the government. Six hundred packs were sold prior to the ta..
q1. do protectionist policies benefit producers consumers workers or the government? explain. explain how the buy
The national restaurant association publishes an annual industry factbook that can be found at wwwrstaurant.org. Based on information in the latest report, does it appear that macro-environmental factors and the economic characteristics of the indust..
A perfectly competitive firm has the cost curves drawn in the following diagram. If the firm's output sells for $16 per unit, what is the firm's profit-maximizing output? Why?
A corporation has ten employees, all of whom want a more pleasant work environment. Accordingly, they are considering removing litter from the grounds of plant.
A freeze in Brazil's coffee-growing region will lower the price of coffee. "Protecting" American textile manufacturers from Chinese clothing imports will lower clothing prices in the United States. The rapid increase in college tuitions will lower th..
First-degree price discrimination
A newspaper article once reported that U.S. economy was experiencing a low rate of inflation. Why does inflation affect increase in Social Security and or profits.
Is there a universal code for ethical business behavior? (Check the December 2005 issue of Harvard Business Review for Up to Code: Does Your Company Meet World-Class Standards? by Lynn Paine, Rohit Deshpande, Joshua D. Margolis, and Kim Eric Bettcher..
Suppose there are two types of workers: high-ability and low-ability. Workers know their own abilities but firms do not. A high school diploma costs a high-ability person $10,000 and costs a low-ability person $15,000. What value of $K guarantees tha..
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