Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
1) Table 1 below describes the revenue that a monopolist is able to make for different levels of output (denoted by Q). The total cost (TC) for a given value of output Q is given by the formula: TC = 20 + Q + Q2 (in words, total cost is given by twenty plus the level output plus the square of the level of output).
a) Complete the table.
b) Determine the profit-maximizing level of output.
c) At the profit-maximizing level of output, what is the marginal revenue and what is the marginal cost? (Hint: the marginal revenue, for, say, is the extra revenue that can be obtained by producing an additional unit). Compute these values and show how they are related to the choice of the profit-maximizing level of output.
d) At the profit-maximizing level of output, what is the price the monopolist charges (assume that the monopolist charges the same price for each unit of output he sells)? Is this price higher or lower than the marginal cost? Is the quantity produced by the monopolist efficient? How is this outcome different from the outcome of a competitive market?
Table 1:
Output (Q)
Total Revenue
Total Cost (TC)
Profit
1
$90
_____
2
160
3
210
4
240
5
248
6
7
8
9
90
There are 10 identical firms that have the common cost function c(y) = y 2 + 9. The industry demand function is given by X (P) = 200/
construct a production possibilities curve for a hypothetical country. put public capital goods per year on the
What is price-wage rigidity? Do you agree with Keynes assessment that wage-price rigidity requires government's involvement in the markets? Why? Why not?
In each of the cases listed below determine what this consumer needs to do (in terms of purchasing X and Y) to maximizes their utility.
What are the two primary factors that influence a firm manager's choice between a labor intensive and a capital intensive method of production? Explain how a manager should make his or her choice in selecting the amounts of labor and capital to use i..
In the model of a dominant company, assume that the fringe supply curve is given through Q = -1 + 0.2P, where P is market price and Q is output. Demand is given by Q = 11 - P.
Distinguish between the Federal funds rate and the prime interest rate. Why is one higher than the other? Why do changes in the two rates closely track one another?
Hurricane Katrina may sting United State economic growth through choking energy supplies even as damages caused by the storm spur massive rebuilding and emergency government spending.
1. at 7.0 effective annual interest how much should be deposited at the start of each year for 10 years 10 deposits in
question 1a describe economic terms and concepts in question.b describe your reasoning leading from concepts in
Assume that if a player is indifferent between accepting or rejecting a division, then the player always accepts the division. Using backward induction, the prediction is that
Clothing co. sells 30,000 units of blazers at £4.80 per unit in 2012, and 36,000 units of trousers at £6.00 per unit in 2013. (a) Calculate the following values for trousers for 2013 with 2012 as the base year:
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd