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Consider a monopoly that can distinguish between every consumer, knows each consumer's willingness to pay and may charge different prices. Which of the following is true in this case?
a. The MR curve is below the demand curve.
b. There is DWL.
c. The rule that "MR=MC" still applies in this case.
d. The consumer will get some consumer surplus.
In April 2013, several employees of Javatech, Inc., a computer hardware developer with 250 employees, started organizing the Javatech Employees Union (JEU). When Javatech refused to voluntarily recognize the union, organizers petitioned the National ..
Why do nations care about having outlets to the ocean? Are landlocked nations at a disadvantage? What are geographers and economists saying about this? Could there be different views on this issue?
What effects would each of the following have on aggregate demand or aggregate supply, other things equal? In each case use a diagram to show the expected effects on the equilibrium price level and the level of real output, assuming that the price le..
Explain why would elasticity of demand be important to you in determining the products on which the taxes should be levied.
Monopolistic competition describes an industry characterized by a _____ number of firms producing _____ products with _____ entry.
q1. a monopolist has demand and cost curves given byqd 10000 - 20ptc 1000 10q .05q2a. find the monopolists
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Canada increased from 7,500 kg per month to 8,000 kg per month. Use calculated elasticity to comment on substitutability or complementarity of coffee and tea
Wong subscribes to the 6M plan and uses 150 hours a month. Suppose that Wong's demand curve is a straight line such that if the price of access were HK$20 per hour or higher, she would buy nothing. Draw her demand curve, and calculate her buyer surpl..
Engineers at a national research laboratory built a prototype automobile that could be driven 180 miles on a single gallon of gasoline. They estimated that in mass production the car would cost $40,000 per unit to build. The engineers argued that Con..
How did the "Real Plan" work? Why was it successful? What led the central bank to introduce a crawling peg in March 1995?
Explain how does trade affect the production possibilities frontier. Illustrate what other factors can expand the production possibilites frontier.
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