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Here is the information you need to answer the question. This information is taken from a graph. So you will need to draw the graph to answer the questions. The best level of output for the monopolist in the short run is 500 units and is given by point E where MR=MC. At Q=500, P=$11 and ATC=$8 so that the monopolist earns a profit of AF=$3 per unit and AFBC=$1500 in total. Showing the short run price and output determination by the monopolist, suppose that the average fixed costs of the monopolist increase by $5 and that its AVC is $6 less that the new ATC at the best level of output. a). What is the best level of output and price, b) what is the amount of profit or loss per unit and in total and whether it pays for the monopolist to produce. Note: ATC=AFC+AVC. After AFC increases by $5, ATC will increase by $5 (ATC curve moves up vertically by $5 for every output Q) and MC, D and MR stay the same. The AFC for 500 units is $6, in other words, the TFC is $3,000.
Aztec Enterprises depends heavily on advertising to sell its products. Management at Aztec is allowed to spend $2 million monthly on advertising, but no more than this amount.
The switch to the use of HFCS from sugar in soft drinks was prompted in large part by its relatively lower price. Assuming a competitive market, what effect would this change have on the equilibrium price and output for soft drinks?
What is the relationship between bowed out shape of production possibilities frontier and increasing opportunity cost of the good as more of it is produced?
Derive the equation for the demand curve facing the airline during the winter month of January if P = $100, PC = 150, BAI = 200, and S+0 (Price should be expressed as a function of quantity.)
Political Economy GV307 : Consider the model of “no theft” where the consumer pays the official government price plus a bribe in order to obtain X. Assume that the official marginal revenue for selling the good in this context is given.
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Show the country's production possibility curve.
Choose any one topic out of the following , • Water , • Energy , • Agriculture , • Forest
Give an example of how you would use this information to set the price for your product in the market place and explain one factor in detail about how shifting demand and supply curves makes market demand estimation difficult
What is the profit-maximizing price of carpets? What is the maximum amount of profit that the firm can earn selling carpets?
To maintain utility constant an income adjustment brought the student to consume the basket (61,92). What are substitution effects and the income ?
Management at the Johnston Corporation estimates a demand function for its lawnmower line to be:Explain the coefficients of each explanatory variable.
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