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Question: A monopoly has the following total cost function: C = 120 + 10Q.
a. Determine the monopolist's output and price, assuming it cannot price discriminate. What is the total profit earned by the monopolist?
b. What would its total profit be if the monopolist were to produce the efficient output, but could not price discriminate.
c. How would your answer to b. change if (i) the monopolist could charge a price of 60 for the first block of its output, and a price of 50 for the second block, and (ii) if it could discriminate perfectly.
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Professor P cares about how many hours that Mr. A teaches and about how much she has to pay him. Professor P wants to maximize her payoff function, x-s, where x is the number of hours taught by Mr. A and s is the total wages she pays him. If Mr. A te..
If the Federal Reserve Bank wants to increase i by 10 per- centage points (e.g., from 2% to 12%), at what level should it set the supply of money?
A local newspaper headline blared, “Bo Smith Signs for $30 Million.” The article revealed that Bo Smith, the former record-breaking running back from Football University, signed a $30 million package with the Nebraska Lions.
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if a competitive firm is currently producing a level of output at which profit is not maximized then it must be true
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The company is Hershey imagine that it moves to China for its operations. what would the current and projected unemployment over the next 5 years. It must be at least 150 words in length, use proper in-citation.
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A supply schedule (or function or curve) defined analogously shows the total quantities (Q) that sellers are willing to sell at various prices (P) in a given period of time. One very special case is that of a fixed supply, where the quantity supplied..
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