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Enrodes is a monopoly provider of residential electricity in a region of northern Michigan. Total demand by its 5 million households is Qd = 1,000 - 2P, and Enrodes can produce electricity at a constant marginal cost of $5 per megawatt hour. Consumers in this region of Michigan have recently complained that Enrodes is charging too much for its services. In fact, a few consumers are so upset that they’re trying to form a coalition to lobby the local government to regulate the price Enrodes charges. If all the consumers of this region joined the coalition against Enrodes, how much would each consumer be willing to spend to lobby the local government to regulate Enrodes’s price?
Traditionally we look at the distribution of consumption as a fairness concern, not an efficiency concern. Why is that the case? Is there a perspective from which income distribution looks like a public good?
What are the equilibrium price and quantity for this monopolist if it charges a single price to everyone? How much profit does the firm make? Show on the graph whether this market is operating efficiently. Calculate the dead weight loss. Calculate th..
How do global regulations influence U.S businesses operating internationally? What are the major obstacles to global regulation?
An engineer is considering two different liners for an evaporation pond that will receive salty concentrate from a brackish water desalting plant. A plastic liner will cost $0.90 per square foot initially and will require replacement in 15 years when..
Banks in New Transylvania have a desired reserve ratio of 10 percent of deposits and no excess reserves. Households want to keep 25% of their money as currency. Now suppose that the Central Bank increases the monetary base by $1,000 billion. How much..
What is the difference between cost-push and demand-pull inflation? Which was the primary cause of inflation in the early 1970's? What type of inflation had the Federal Reserve been trying to prevent in 1998 and 1999? What about in 2005 and 2006?
A U-shaped average total cost curve implies what?:
Calculate the ICER for the new treatment, assuming that the new treatment would replace the old one. In what quadrant is the ICER located in Figure 3-4? Is cost effectiveness analysis relevant? How does the answer change if the cost of the new treatm..
Suppose the firm is operation in a high-way country, where capital cost is $100 per unit per day and labor cost is $80 per workers per day. which technology is cheapest for each level of output.
q. 1. clients to live theaters inc. can be partitioned into 2 groups seniors and everyone else. the converse demand
New York & Co. is considering a limited edition denim jacket. Because it is so special, the first few will sell for a very high price, the next for less, and so on. A curve on a graph is used to estimate the price of each jacket. What if a less autom..
Suppose you make equal quarterly deposit of $2,500 into a fund that pays interest at a rate of 8% per year compounded monthly. Find the balance at the end of year 2. Please provide formula or excel function?
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