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Suppose the domestic demand for honey is Qd = 1600 - 2P (where quantity is measured in tons) and the domestic supply is Qs = -500 + P and there are many buyers and sellers such that the market is perfectly competitive.
a. If honey producers form a cooperative and form a monopoly, find the monopoly equilibrium price and quantity. Compare the competitive equilibrium to the monopoly equilibrium in terms of price quantity and welfare. What is the social loss due to monopoly?
A railroad branch line to a missile site is to be constructed. It is expected that the railroad line will be used for 15 years, after which the missile site will be removed and the land turned back to agricultural use. The railroad track and ties wil..
A typical university football program requires alumni to join one of several booster clubs (each club gets seats in different parts of the stadium) before the person can buy season tickets. What has this got to do with consumer surplus?
q1. you are the proud owner of a baseball card store. suppose you sell 100.00 worth the baseball cards each day with
Unemployment - Discuss the unemployment rate, types, issues, and government policy of Australia and comment unemployment in various states of Australia. You need to specify in different region like NSW, WA, Tasmania, Qld or SA
Drawing on current business publications, find out some updated facts for each case that support this theme.
The following are true statements about the income and substitution effect and the optimal consumer's allocation, EXCEPT:
Suppose the inverse demand for coal is estimated to be P = 75 - 0.6Q, where P is the price of coal and Q is the quantity demanded. The supply of coal is given by P = 0.3Q. Suppose coal mining produces an external marginal user cost. This cost equals ..
If the price of cheese is marked down during a sale by 20% and in response the quantity demanded (sales) increase from 30 packages to 45 packages what is the price elasticity of demand? Is demand elastic or inelastic?
The market for DVD rentals in Dallas, Texas, is estimated to be P= 10-0.002Q. Marginal cost (MC) of rental is equal to $2. Where PD is the price (per DVD in $) for DVD QD is quantity of weekly rental. The marginal revenue (MR) for rental is equal to ..
Prepare a power point presentation on networks and networking suitable for work areas for the company you are currently employed in.
1. What barriers to entry exist for the Monopolistic competition business model? 2. Describe the difference between Monopolistic Competition and Monopoly market structures.
Compare and contrast the historical periods/ eras typically used to describe business government relations in the United States. Discuss the nature of business organizations, legal doctrine and the role of government in each era.
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