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Consider a monopolist facing demand curve Q = 100 - P. MC=AC=$20.
a. Find the monopoly price, profits, and consumer surplus. b. Find the perfectly competitive price, quantity, profits, and consumer surplus. c. How much deadweight loss is due to monopolization? d. If the monopolist can perfectly price discriminate (1st degree), find the total quantity sold, the marginal price for the last unit sold, consumer surplus, profit, deadweight loss.
Suppose two nations are considering specializing in either calculators or personal computers. If solely producing calculators, country A can produce 300 and country B can produce 400.
Draw a diagram describing autarky and a pattern of comparative advantage for your example.
How is interest rate described? Why is there a lower present value of goods to be delivered in future? What are their respective interest rates? Illustrate the adjustments which you think will ensue.
Say if the following statement is true or false and why-Exports depend only on the demand of foreign countries for our products and therefore our exporting
Explain carefully in terms of production theory why it might be that no amount of "cracking down" can increase worker productivity at CF&D.
Describe the law of diminishing returns. Then discuss why you agree or disagree with following statements.
You have been hired as a plant manager for a firm that produces widgets (Q) in Angola, Indiana. Widget production requires machine time (K) and labor time (L).
If you can borrow (and lend) money at an interest rate of 8 percent, will the investment be a profitable undertaking? Is the project profitable at an interest rate of 12 per cent? Provide numerical calculations in support of your answers.
Describe what effect an expansionary fiscal policy would've on the price level and real GDP starting from full employment equilibrium.
Explain why competitive markets normally lead profit maximizing firms to make choices about resource use that lead to an "efficient" allocation of resources to the market?
Obtain the market clearing price and quantity. Under the assumption of profit and maximization , how much output should the representative firm produce?
Which of the following items are included in the calculation of GNP in the UK, and which are excluded?
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