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My professor requests the following: "When answering the questions, you must emphasize the line of reasoning that generated your results. It is not enough to list the results of your analysis, include correctly labeled diagrams while explaining your answers. It must have all axes and curves clearly labeled and must show directional change/shifts. 1)Due to a new technology, Bana computers enjoys monopoly power. It doesn't engage in price discrimination. A) Explain why the demand curve lies above the marginal revenue curve for Bana computers. Note type of elasticity. B) Assume Bana is earning a short-run economic profit using a correctly labeled graph, show the following I) Profit-maximizing level of output, label as Q* II) Profit-maximizing price, labeled as P* III) Economic profits, as a shaded area C) If Bana wants to maximize its total revenues instead of profits, using your graph from part B and show the following: i) Revenue-maximizing level of output, label as Q^R ii) Revenue maximizing price, labeled as P^R D) Given your answer (B), indicate whether Bana is,producing the allocatively efficient level of output. Explain. E) Explain what will happen to Bana's demand curve as other firms adopt the same technology. What will happen to the market demand curve? 2- Assume that a profit maximizing firm is in a monopolistically competitive industry, within a long run equilibrium. A) Draw a correctly labeled graph that shows the profit maximizing firm's Price and Output.
Calculate the standard deviation of the distribution of each investment. (b) Which of the two investments is more risky? (c) Which investment should the individual choose?
Compute the best response function of each firm in terms of prices. Compute the resulting equilibrium price quantity combination for each firm. Describe your answer with a suitable graph. Also calculate optimal profits of each firm.
how does charging the monopoly a specific tax of 10 per unit affect the monopoly optimum and the welfare of consumers, the monopoly and society?
For each of the following utility functions, draw the three indierence curves that correspond to the three stated utility levels, labeling each curve with the corresponding utility level. Label any intercepts or inks in the line to fully identify ..
a. Good Ais an inferior good and Goods A and B are substitutes. b. Good Ais an inferior good and Goods A and B are complements. c. Good Ais a normal good and Goods A and B are substitutes. d. Good Ais a normal good and Goods A and B are complements. ..
If the total issues in an economy are Rs 4,50,000, the financial interrelations ratio is 1.17, and the new issue ratio is 0.72, what will be the net capital formation in the economy?
Is the federal funds rate currently too high or too low, Suppose that a year has gone by, output is now just 1 percent above potential, and the inflation rate was 1.5 percent over the year. What federal funds rate should the Fed now set (assuming tha..
In the long-run, how would the solution of someone who favoured an active policy approach to an expansionary gap differ from that of someone who favoured a passive approach to policy?
Identify the IP rights that are owned by an organization you currently or formerly have worked at. Explain which intellectual property appears the most difficult for a business owner to protect.
Use a principle, or principles, discussed in the course to explain some pattern of events or behaviour that you personally have observed.
Using a prisoner's dilemma game such as the "wedding game." explain how a positional arms race can occur. In your answer be sure to explain positional arms races, the nature of the wedding game, etc.
Describe the difference between "stock variables" and "flow variables" in macroeconomic models. Of the following variables: aggregate income, aggregate wealth, aggregate investment, the aggregate money supply, government budget deficit, and govern..
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