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Question: Assume that a firm has a monopoly. Its demand curve is given by the equation
P = 60 - Q. It produces its output subject to the following short-run cost equation: C = Q2 + 20.
a. Draw a graph of the monopolist's demand curve, short-run marginal cost curve and marginal revenue curve and determine the profit-maximizing price and quantity.
b. Now assume that there is a $4 per unit specific tax. Determine the new profit-maximizing price and quantity.
c. Determine what effect the $4 specific tax has had on consumer surplus, producer surplus, tax revenues, and social welfare. Be sure to calculate the dollar amounts.
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Describe the present economic crisis situation in Europe. Why has it been so difficult for the Europeans to find a solution to this problem? Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..
Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.
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Problem based on Utility Function - Problem, Answer and explain the following using a diagram which is completely labeled.
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Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.
How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world.
Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?
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